What are the “big” startup money magnets in Nigeria - financial services, ecommerce, energy? Haven’t seen much for health or other sectors recently but please correct me if I’m wrong.
“Nigerian startup that offers comparison on financial products to African consumers, TopCheck, has raised $1.1 million seed round from several investors.”
Press Release: http://topcheck.com.ng/news/topcheck-raises-1-million-euros-financing-round/
Nigeria’s tech industry is growing faster than everyone thought.
But is there any market for this in Nigeria? It’s unbelievable that majority of Nigerians are now looking online for price comparison for their auto, home insurance and checking account.
I doubt that sort of investor herding is happening at the moment. These decisions appear to be happening on case by case basis.
The 2015 VC4Africa report summary breaks down companies on their platform by sector but as we know that provides a limited sense of what sectors are seeing startup growth across Africa and doesn’t focus on investment dollars by sector. https://vc4africa.biz/assets/pdf/Summary-VC4Africa-2015-Report.pdf
