Nigerian Startups Attract $113.7 Million in Venture Capital

Nigeria’s startup ecosystem saw significant investment activity in June 2026, with companies raising a total of $113.7 million in disclosed funding according to Technext analysis. While the actual figure could be higher due to undisclosed rounds from notable players like insurtech Myka and B2B platform Midddleman, this still represents a strong performance for Nigerian startups.

The June funding surge was fueled by both large transactions and smaller investments across various sectors including fintech, enterprise AI, agriculture technology, and climate/green energy. A particular highlight was the Cascador Pitch Day in Lagos which saw $4.5 million invested in early-stage climate and clean energy ventures. ## Major Funding Rounds

The most remarkable transaction of June was Flutterwave’s Series E funding round, estimated at $100 million from a strategic investment by Ripple. This valued the fintech unicorn at $3.2 billion and integrated Ripple’s blockchain technology into Flutterwave’s payment infrastructure.

Other notable rounds included:

• Myka (insurtech) - Undisclosed pre-seed funding from Ventures Platform, TLcom, Paystack founders, LemFi founders, and Voltron Capital
• AethexAI (enterprise AI) - $3 million pre-seed led by 4DX Ventures with participation from Enza Capital and others
• Stabyl (fintech) - $2.7 million pre-seed led by Konga to build institutional-grade FX infrastructure
• Daya (stablecoin startup) - $2.4 million pre-seed round powered by Hivemind Capital with participation from Lattice and others

Climate Tech Takes Off

The Cascador Pitch Day showcased growing investor interest in climate solutions, with startups like Agriarche, Koolboks, and Powerstove securing catalytic funding totaling millions of dollars.

This investment activity underscores Nigeria’s position as a leading destination for tech innovation in Africa, particularly in sectors addressing critical local challenges such as financial inclusion, access to energy, and food security.