It’s no secret that the economy of Africa has been massively expanding over the years, with Nigeria at the forefront of its developments and innovations. Compared to the technological landscape of the continent and its country a couple of decades ago, the region has come a long way with reliable and speedy internet connection and mobile services. Nigeria has become one of the largest economies in Africa due to its expansive oil and gas production and has resulted in a GDP growth of 6.9%.
And who else can we thank for these improvements other than startups who dedicate their time, energy, and resources to provide more sustainable and innovative solutions to our everyday problems and issues? It’s become a lot easier to set up business in Nigeria, and these lower barriers to entry into the market have been accompanied by various companies who have set up operations in numerous industries, such as finance, health care, investment, auto-manufacturing, and logistics.
In this article, we’re focusing on five of such startups that are committed to reaching great heights in this new year.
Founder: Etop Ikpe
Funding: $3.4 million
Contact No.: +234 700-288-6243
AutoCheck is an interesting new startup that has streamlined buying and selling cars in Nigeria through the use of digital technology. Through the support of TLcom Capital and 4DX Ventures, this company has raised around $3.4 million, which it has invested in the construction of a safe and reliable environment for Nigerians to buy and sell their automobiles.
In addition to this, it also provides automobile repair and maintenance services, alongside car washing, engine service, tire and brake service, painting, denting, and battery service. You’ll find all you need to maintain your car in tip-top shape with this company’s services. All you need to do is download the AutoCheck app from the App Store, launch it and add your login credentials using your customer ID and password. Once you enter your vehicle’s identification number (VIN), you can register it and access the full range of AutoCheck’s maintenance services.
You can also scan the VIN barcode of a vehicle to get to know if it has been in any accidents, has been stolen or repossessed, or has any damages that you should know of. This information is valuable since it allows customers to quickly assess the details and history of the vehicle they would like to acquire. It also makes it easier to compare it to other substitutes, allowing customers to make the optimum decision when purchasing their car.
Founder: Tosin Osibodu
Funding: Not disclosed
Contact No.: +234 701 120 4586
Chaka is a technology solutions startup that combines its investment and digital expertise to provide customers across Africa a platform to engage in investment and training and wealth management without any geographical restrictions. By creating an account with Chaka, you can start investing in portfolios designed to serve your goals within a few minutes. You can also trade more than five thousand the United States and Nigeria stocks and Exchange-Traded funds without any hidden charges or risk of losing your finances.
This startup is particularly important and relevant to our conversation because it is Nigeria’s first and, as of date, the only Securities and Exchange Commission (SEC) registered digital investment network. With fast withdrawals, free deposits, close control of your investments, and 24/7 customer support, Chaka is a revolutionary player in the country’s investment market.
Founder: Edward Popoola, Razaq Ahmed
Industry: Banking and personal finance
Contact No.: +234 903 000 0857
The best way to increase your finances is to invest, and CowryWise is here to help you out with that! Licensed by Nigeria’s SEC, this company helps Africans in accessing digital investments in a more secure and efficient manner. It particularly focuses on the underserved African middle class and millennials. You can invest in a number of funds and stocks and watch your money grow, and you can create multiple savings plans alongside this to help you manage your finances better. You can also save with your friends and family to keep you motivated through what can often be a challenging process. Overall, CowryWise is just what you need to help you build a strong safety net and achieve financial independence.
Founder: Nadayar Enegesi, Prosper Otemuyiwa, and Silm Momoh
Industry: Home Service, Technology
Contact No.: +234 903 964 2139
Eden is one of the more creative and unique startups in Nigeria that are focusing on harnessing the power of technology to help in home maintenance services. Gone are the days when you needed to spend countless hours doing chores that distracted you from what was actually important. By using Eden, you can live a stress-free life via a service provider from Eden who completes your daily to-do list for you. From cooking to doing laundry to cleaning the house, your Eden helper will take care of everything for you!
Founder: Iyinoluwa Aboyeji, Olugbenga Agboola
Contact No.: +234 1 280 9030
And last but not least, we have Flutterwave—a FinTech startup leading the transformation of payment methods in Africa by using its application programming interfaces (APIs). This company provides users with all the necessary resources to make customized payments and monetary transactions. If you’re involved in transaction services, banking, or business, you’d definitely want to check out Flutterwave.
As stated on its official website, the overall vision for this brand is to help Africans engage in the global industry with their businesses by being able to make and accept payments all across Africa and the world. This company is also associated with The Wave Podcast, a radio where experts have conversations about finance, business, and much more. Whether you’re committed to managing your finances better or you want a fast and reliable platform to make your transactions, Flutterwave is all you need.