Nigerian startups raised $635 million in the first nine months of 2026. That’s 2.6 times the $247 million raised over the same period last year, and enough to put Nigeria back at the top of Africa’s funding table, according to Africa: The Big Deal data reported by Nairametrics.
It’s the country’s best January to September since 2022. Nigeria has already passed its full 2025 total of $442.8 million with a quarter of the year to go.
Read the fine print
Four deals did most of the work. Moove raised $250 million, Flutterwave $100 million, Jumia $50 million and Yellow Card $40 million. Together, that’s $440 million, about 69% of the total.
Moove alone accounts for roughly 39%. Moove announced earlier this month that it is exiting Nigeria. So the headline number partly counts money raised by a company on its way out.
Strip out the big four and about $195 million is left for every other Nigerian startup that raised at least $100,000 in the period.
The good news is real, though
Depth improved too. 77 Nigerian startups raised at least $100,000, more than any other African country and up 10% from 70 last year. Excluding pan-African ventures, Nigeria took 37% of country-specific funding, its highest share since 2021.
The rest of the big four went the other way. Kenya raised $201 million, down 73%. South Africa raised $182 million, down 58%. Egypt was steady at $445 million, up 10%.
Across the continent, logistics and transport overtook fintech as the biggest funded sector, with $780 million against fintech’s $760 million. Moove and Spiro drove most of that.
What it means for you
More startups getting cheques usually means more jobs in Yaba and beyond. Whether 2026 is a recovery or a few big rounds in a good year depends on Q4, and on what replaces Moove.
Sources: Nairametrics, “Nigeria reclaims Africa’s startup funding lead as investments rise to $635 million” (21 Oct 2026), citing Africa: The Big Deal.
