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Nigerian startups raised $70.5m in Q1 2020, with over 99% from foreign sources

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April 23, 2020
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Nigerian startups raised $70.5m in Q1 2020, with over 99% from foreign sources
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Over the last three years, Techpoint has consistently released a series of reports — both quarterly and annually — that captured the funding activities of the Nigerian startup space with insights and analysis.

In the spirit of consistency, we present the Q1 2020 funding report — the first quarterly edition in the build-up to the 2020 annual report.

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In Q1 2020, Nigerian startups raised $70.5 million which is higher than the amounts raised in Q1 2018 and Q1 2019 combined.

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