Nigeria has firmly established itself as Africa’s digital powerhouse, outpacing countries like Kenya, long regarded as the continent’s “home of computer innovation.” With an ever-expanding pool of billion-dollar tech companies and a thriving fintech ecosystem, Nigeria is shaping the future of Africa’s digital economy.
Recent data on Africa’s largest startups reveal that Nigeria dominates the top rankings, hosting the majority of unicorns (startups valued at $1 billion or more). From payment platforms to logistics and energy tech firms, Nigerian companies are driving financial inclusion, digital transformation, and cross-border innovation.
1. Flutterwave 🇳🇬 – Valued at $3 Billion
Flutterwave, founded in 2016 by Olugbenga Agboola and Iyinoluwa Aboyeji, is Africa’s highest-valued startup, currently worth $3 billion. The Lagos-based fintech provides payment infrastructure for global merchants and helps businesses receive money from anywhere in the world.
Flutterwave’s technology powers major global companies such as Uber, Microsoft, and Booking.com in Africa. The startup’s innovative platform, Flutterwave for Business, has become the go-to payment solution for thousands of SMEs across 30 African countries.
2. OPay 🇳🇬 🇨🇳 – Valued at $2.7 Billion
OPay, backed by Chinese investors, is a leading Nigerian mobile payment and financial services company. Founded in 2018, OPay has expanded beyond payments to include lending, savings, and wealth management services.
Its seamless app allows millions of Nigerians to pay bills, transfer money, and access digital financial products easily. OPay’s growth reflects Nigeria’s fintech boom and the country’s expanding cashless economy, supported by youth-driven tech adoption.
3. Chipper Cash 🇺🇬 🇬🇭 🇺🇲 – Valued at $2.2 Billion
Founded by Ham Serunjogi (Uganda) and Maijid Moujaled (Ghana), Chipper Cash operates a cross-border payment platform connecting African countries with the global financial system.
Now valued at $2.2 billion, the company simplifies international remittances and money transfers, serving millions across Nigeria, Ghana, Kenya, Uganda, and South Africa. Its low-cost transaction model has positioned it as a major competitor to traditional banks.
4. Wave 🇸🇳 🇺🇲 – Valued at $1.7 Billion
Wave, headquartered in Senegal, is a mobile money company transforming West Africa’s financial landscape. With a valuation of $1.7 billion, Wave offers affordable, easy-to-use payment solutions in Senegal and Ivory Coast.
Its unique approach—zero withdrawal fees and low transfer costs—has made it a favorite among users who were previously excluded from the formal banking system.
5. Andela 🇳🇬 🇺🇲 – Valued at $1.5 Billion
Founded in Lagos in 2014, Andela connects top African software engineers with global tech companies. The company has helped thousands of developers find high-paying remote jobs with firms in the U.S. and Europe.
Now worth $1.5 billion, Andela plays a key role in Africa’s human capital export, bridging the global digital talent gap while boosting Nigeria’s reputation as a tech talent hub.
6. Esusu 🇳🇬 🇮🇳 – Valued at $1 Billion
Esusu, co-founded by Abbey Wemimo and Sami Ayinde, leverages financial technology to help immigrants and low-income earners build credit in the United States.
Valued at $1 billion, Esusu allows users to report rent payments to major credit bureaus, helping them access fairer financial opportunities. It is one of the most inspiring African-led startups making global impact.
7. Interswitch 🇳🇬 – Valued at $1 Billion
Interswitch, established in 2002 by Mitchell Elegbe, is Nigeria’s oldest fintech giant and one of Africa’s first unicorns. The company powers much of Nigeria’s digital payment infrastructure, including the Verve card and Quickteller platforms.
With a valuation exceeding $1 billion, Interswitch remains a symbol of consistency and innovation in Nigeria’s financial sector.
8. MNT-Halan 🇪🇬 – Valued at $1 Billion
Egypt’s MNT-Halan is a microfinance and digital banking platform that supports unbanked individuals and small businesses. With over five million customers, the company is valued at $1 billion and continues to expand across North Africa and the Middle East.
9. Moniepoint 🇳🇬 – Valued at $1 Billion
Formerly known as TeamApt, Moniepoint provides digital banking services for businesses, helping them process payments, manage cash flow, and access working capital.
Its innovative agent banking network has brought financial services closer to rural communities in Nigeria, contributing significantly to financial inclusion efforts nationwide.
10. Moove 🇳🇬 – Valued at $750 Million
Moove, founded in Lagos in 2020, offers vehicle financing solutions for ride-hailing drivers using platforms like Uber and Bolt.
The company has raised hundreds of millions in funding and operates across Africa, Europe, and the Middle East. Moove’s valuation stands at $750 million, making it one of Nigeria’s fastest-growing tech startups.
11. Fawry 🇪🇬 – Valued at $611 Million
Egyptian fintech Fawry provides electronic payment services for individuals and businesses. With a market capitalization of $611 million, Fawry is one of North Africa’s leading digital finance companies, processing millions of transactions daily.
12. Jumia 🇳🇬 🇬🇭 🇫🇷 – Valued at $520 Million
Jumia, Africa’s e-commerce pioneer, was founded by Nigerian and French entrepreneurs in 2012. Operating across multiple African countries, Jumia provides online retail, logistics, and digital payment solutions.
Listed on the New York Stock Exchange (NYSE), Jumia remains a key player in Africa’s growing e-commerce sector despite market fluctuations.
13. M-KOPA 🇰🇪 – Valued at $325 Million
M-KOPA, based in Kenya, provides pay-as-you-go solar power and smartphone financing for low-income households.
With a valuation of $325 million, M-KOPA demonstrates how technology can solve Africa’s energy access challenges while empowering consumers with affordable digital products.
14. Sabi 🇳🇬 – Valued at $300 Million
Sabi, a Nigerian B2B e-commerce platform, connects small businesses with manufacturers and suppliers through a digital marketplace.
Valued at $300 million, Sabi has rapidly expanded across Nigeria and Ghana, supporting thousands of informal retailers in digitizing their operations.
Nigeria’s Digital Dominance: A New Era for Africa
Out of the top 14 startups in Africa, eight are Nigerian-founded, underscoring the country’s status as Africa’s largest startup ecosystem. Nigeria’s young, tech-savvy population, expanding internet access, and government push for digital transformation have created fertile ground for innovation.
While Kenya, Egypt, and South Africa continue to make significant contributions, Nigeria’s dominance in fintech and digital infrastructure places it ahead in the race toward a $180 billion African digital economy projected by 2030.
