Nigerian Fintechs make up almost 91% of the $ 417.5 million, which were collected by tech startups in the country-fintech
Nigerian Fintechs make up almost 91% of the $ 417.5 million, which were collected by tech startups in the country-fintech
According to an analysis of the $ 417.5 million, which were collected by Nigerian technology startups in the first nine months of 2021, around $ 379 million or $ 90.78 % of the total of fintech companies.
nigerian fintechs dominate the African continent
nigerian fintechs currently make up more than 90% of the $ 417.5 million, which were collected by tech startups in the first nine months of 2021, according to a local report.
While test report , which is compiled by the local media company Punch, the 417.5 million US dollar is already significantly higher than the 300 Millions of US dollars that have been collected throughout 2020 and admits that this growth of the creation of funds is largely due to fintech groups.
The report indicates that 600 million US dollars were collected from FinTech Startups between 2014 and 2019. In order to prove that the FinTech area has grown quickly since 2020, the report refers to the conviction of the Fintech Association of Nigeria (fan). that the investments in the financial services ecosystem in 2021 400 million
state support
In addition to the majority of the funds collected by tech startups, the lion's share of the funds, which was collected by Fintech startups on the African continent, also does not apply. As before from Bitcoin.com News, from the 277 fintech financing rounds Disrupt Africa were followed between 2015 and mid -2021, 108 of these rounds went to Nigerian startups.
These rounds with a total investment volume of $ 467,901,000 mean that Nigerian Fintechs made 53.4 percent of the funds collected since the start of the persecution. This number is much higher than that of the second-placed South Africa, whose startups brought in a total of $ 216,124,800 in the same period.
Meanwhile, the newspaper Punch also reported that the government of President Muhammadu Buhari has noticed the growth of space since then and is now interested in further promoting it by creating an environment in which the country's youth can implement its passions in ideas.
The report added that a “startup Bill”, a joint initiative of the Nigerian Tech startup ecosystem and the presidency, is now to be presented to the Nigerian legislator at some point.
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