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Nigerian startups secured over $4.8 million in funding across 10 deals in July 2025, led by digital credit recovery and debt management platform, Bfree, and Mobility fintech firm Moove.
The funding, according to data tracked by Nairametrics Research, came through a mix of debt financing, venture capital, and grants.
Specifically, Bfree raised $3 million in debt financing from Verdant Capital, and it was the largest raise by any Nigerian startup in the month.
The company plans to expand its AI-powered debt collection solutions across African markets.
Moove followed with a $500,000 venture round led by Launch Africa. Known for financing vehicle ownership for drivers on ride-hailing platforms, Moove plans to use the funds to scale its operations and improve vehicle financing models.
However, the $4.8 million raised by Nigerian startups accounted for only 0.75% of the total funds raised by African startups in the month, which stood at $636.8 million.
Other startups that raised fund
Energy and agriculture-focused ventures dominated the month, with four startups receiving targeted grants from the Powering Renewable Energy Opportunities (PREO) program.
Other sectors that attracted funding included logistics, legal tech, and fintech, underscoring the resilience and diversity of Nigeria’s startup scene.
- Clean energy monitoring startup enee.io raised $300,000 from impact investor All On to scale its IoT-based energy management systems.
- Four companies, Koolboks, Spunvertek, Consistent Energy, and Green Eden Farms, each received $200,000 grants from PREO, reflecting the program’s growing role in supporting renewable energy and sustainable farming solutions across Africa.
- Legal-tech startup PocketLawyers secured $100,000 to expand its digital legal advisory platform. The startup connects users with verified legal professionals and offers affordable legal services online.
- Similarly, digital payments platform Flick. also secured $100,000 from Nubia Capital to enhance its product offering and support customer acquisition efforts.
- Logistics company Gamp obtained an undisclosed debt round from Nigerian financial institutions, including FSDH Bank, Meristem, and BAS Finance. The logistics and transportation startup is focused on streamlining delivery services across urban centers, leveraging technology to optimize fleet management and last-mile delivery
What you should know
Energy & Water startups accounted for 50% of the funding deals, largely driven by grant support from PREO, while Logistics & Transport saw strategic debt and venture financing aimed at scaling operations in Nigeria’s mobility sector.
Fintech continued to attract capital, with Bfree and Flick securing both debt and equity rounds. Legal Tech made the list with PocketLawyers, highlighting growing investor interest in digitizing professional services.
- Local and international investors such as Verdant Capital, Launch Africa, All On, and Nubia Capital remain active in the Nigerian market. Meanwhile, PREO continues to emerge as a major backer for renewable energy solutions, with four deals in a single month.
- July’s funding activity reaffirms that despite economic uncertainties, Nigeria’s startup ecosystem remains vibrant, with diverse funding sources enabling innovation across sectors.
- The continued inflow of grants, debt, and venture capital suggests a healthy mix of risk appetite and impact-driven investment.
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