Startup funding in Nigeria 2026
January to September 2026. Data as of 23 October 2026.
Release
Total
Startups in Nigeria raised $290M in 62 venture rounds from January to September 2026, 31st of 119 countries, according to FundingWatcher.
Without rounds of $100M or more
1 round of $100M or more holds 86.1% of that money. Without it, Nigeria raised $40M, 51st of 119 countries.
Largest round
The largest round was Moove in Lagos: $250M, Series C, in August 2026.
Cities
Lagos startups raised $262M, 90.3% of the national total, ahead of Abuja with $18M.
Cities without rounds of $100M or more
Without its 1 round of $100M or more (Moove), Lagos falls behind Abuja: $18M to $12M.
Early stage
Pre-seed, seed, angel and Series A rounds under $100M: 61 rounds, $40M.
Source
Source: FundingWatcher, startup funding by country and city 2026, https://fundingwatcher.com/research/startup-funding-by-country-2026/
Cities
| City | Rounds | Total | Under $100M | Rounds of $100M+ |
|---|---|---|---|---|
| Lagos | 33 | $262M | $12M | 1 |
| Abuja | 10 | $18M | $18M | 0 |
| Yaba | 2 | $7M | $7M | 0 |
| Lekki | 2 | $2M | $2M | 0 |
| Abakaliki | 1 | $120K | $120K | 0 |
| Benin City | 1 | $100K | $100K | 0 |
| Abeokuta | 1 | $20K | $20K | 0 |
| Wuse | 1 | $5K | $5K | 0 |
| Kaduna South | 1 | $2K | $2K | 0 |
| Ado-ekiti | 1 | $2K | $2K | 0 |
| Agege | 1 | $1K | $1K | 0 |
| Kaduna | 1 | $0 | $0 | 0 |
Largest rounds
| Company | City | Round | Date | Amount |
|---|---|---|---|---|
| Moove | Lagos | Series C | 2026-08-05 | $250M |
| Terra Industries | Abuja | seed | 2026-08-17 | $18M |
| Swoop | Yaba | seed | 2026-04-24 | $7M |
| Cybervergent | Lagos | seed | 2026-03-05 | $3M |
| Daya | Lagos | pre-seed | 2026-06-24 | $2M |
| Cardtonic | Lekki | seed | 2026-01-16 | $2M |
| Biochar Industrial Group | Lagos | pre-seed | 2026-07-31 | $2M |
| Codar | Lagos | seed | 2026-07-17 | $2M |
| LilyShops | Lagos | pre-seed | 2026-06-30 | $1M |
| Swave Market | Lagos | pre-seed | 2026-02-02 | $1M |
Method
62 rounds in Nigeria in the FundingWatcher startup file: companies whose most recent round is a named stage, pre-seed and angel through Series J, dated January to September 2026. One round per company, the latest. Debt, grants, corporate rounds, private equity and secondary sales are not counted. 28 of the 62 rounds carry an amount. Method and data files: startup funding by country and city, 2026.
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