10+ Top Startups in Nigeria to Watch out For in 2023

Starting and growing a company has always been tough, but it’s especially tough right now. As the working world navigates widespread inflation and economic uncertainty, it’s getting more challenging for young companies to receive investment and grow.

But while it’s a challenging moment, some argue that innovative ideas are born in times of uncertainty. Operating under constrained resources and limited capital can push young companies to prioritise assets and values and adapt quickly.

That has been the case for many of Nigeria’s startups, which continue to remain very attractive to venture capitalist funding globally. In the first quarter of this year, Nigerian startups attracted more than $800m in VC funding – a 128% increase from what they received in the same period last year. Those numbers have solidified Nigeria as the top destination for VC funding in Africa, followed by Kenya, Egypt, and South Africa.

Our inaugural LinkedIn Top Startups list is the resource to find the startups to pay attention to right now, featuring 10 companies in Nigeria that are rising to the challenges of the moment and continuing to innovate and gain attention in 2023.

To compile the list, we looked at LinkedIn data across four pillars: employee growth, jobseeker interest, member engagement within the company and its employees, and how well these startups pulled talent from our flagship LinkedIn Top Companies list.

This list is ultimately meant to be a resource for jobseekers excited by the opportunity to innovate, solve big problems, and grow their skills. If joining a startup is the right fit for you, check out which roles, functions, and skills are in demand at each company – and click on them to find the associated LinkedIn Learning courses to study up. If you see a company that sparks your interest, take a look at who you may know and turn on job alerts to stay on top of future opportunities.
Check out this year’s 10 Top Startups in Nigeria – and join the conversation using 

1. Sendy

With the rate at which e-commerce is blooming, trust me, 2023 will see a hike. This calls for strategies to make the entire supply chain and processes seamless and Sendy is one of the startups doing just that.

Whether it’s an individual purchasing goods or it’s a supermarket stocking up, Sendy’s got you. The startup, founded by Mesh Alloys, Evanson Biwott, Don Okoth and American Malaika Judd, picks up, delivers, stores and even offers payment processing. All you need to do is tell them what you want and you can sell more, move goods efficiently and affordably at your own comfort.

Added to its 5,000 vehicles from third party partners, Sendy has over 92% fulfillment rates across its four countries of operations including Kenya and Nigeria.

2. TomX Holdings

Focused across sectors including logistics, finance, fast-moving consumer goods, real estate and ICT, TomX Holdings thrives to tackle the unemployment challenge in the African continent.

Via its product offerings including TomX Credit, Rapaid and others, the startup provides affordable and reliable capital to individuals, small and medium-sized businesses, as well as corporate bodies, with trusted financial returns to investors. It also stimulates growth in savings, seamless loan applications and rewarding investments.

TomX Holdings leverages an inclusive approach, taking into cognizance the financially limited and unbanked population of the continent.

3. Mkobo

Licensed by the Central Bank of Nigeria and insured by Nigeria Deposit Insurance Corporation, Mkobo is a microfinance bank focused on enhancing the economic sustainability of the African continent, improving the quality of lives in the continent.

We can never have too many fintech companies, can we? I don’t think so, there’s just a lot to cover and these fintech companies are helping a great deal.

Giving access to efficient banking, Mkobo was built on a goal to provide affordable financial services that help improve the lives of underserved Africans in the near future.

4. Ckrowd

Ckrowd is taking techtainment to another level. Are you a content creator? Ckrowd would help you monetize your content within and outside the African continent.

The premium content streaming platform is also focused on supporting young African students, helping them receive affordable educational programmes through the leverage of technology.

Expanding its goal achievement, the startup recently invested in its Digital-Marketing-As-A-Service (DMAAS) technology to support content creators and businesses interested in expanding their subscribers’ reach and driving revenue from sales of their content or other products and services.

5. Babymigo

Any mum can relate with the feeling of wanting attention and guide all through pregnancy processes, that’s what Babymigo does.

Babymigo is a pregnancy and parenting community that provides tools, resources and local support services for pregnant women and parents with children between the ages of 0 and 7.

Babymigo officially launched its services towards the end of 2020 and already, over 250,000 mums have signed up on its platform, showing increasing trust from the public. The startup has major reach in Nigeria and Ghana, even mums outside these countries leverage the platform.

6. ArtSplit

How much do you love art and how well do you wish it accessible to you so you can easily invest?

Well, ArtSplit is a startup built to make credible art investment accessible, as it democratizes the arts industry, making it visible to the international market.

ArtSplit leverages technology to break down a piece of art worth $200,000 for instance, into a 100 thousand splits, taking entry points of that work to $2 per split and then people can afford to buy up to 10 or 50 splits easily with the app.

Users can only co-own these works, which are physical works, not an NFT, through the app.

7. Empress Linguistics Services

Empress Linguistics Services applies to every business, whatever sector they might be.

The startup is focused on making communications and business transactions seamless across borders. It eliminates the issue of language barrier, enabling you to gain customers from whatever part of the world, even non-English speaking countries.

In simple terms, it helps startups and established companies track their businesses with the use of languages.

8. Lazerpay

Lazerpay helps African businesses and creators get paid from any part of the world in cryptocurrencies, specifically stablecoins.

The fragmented currencies utilized across the world, causing inadequate business flows is its focus, bringing about an effective means of transactions to help businesses scale.

Its zeal is to improve the current financial landscape for underserved businesses. Lazerpay keeps creating new means to make commerce seamless for businesses leveraging crypto payments.

9. Chowdeck

Do you realize how nice it is to order a meal in the comfort of wherever you are from restaurants of your choice?

Chowdeck doesn’t limit you to certain restaurants, it doesn’t matter where they are located. The logistics service delivers meals to you within minutes from a wide variety of restaurants ranging from African to Continental cuisines to satisfy your cravings.

It was among the startups in Y Combinator’s 2022 Summer Batch and trust me, it’s an app I use every day and can testify to its goodness.

10. Azapay

Azapay is a fintech startup which saves us the embarrassment of failed transactions without immediate reversal.

The startup’s uniqueness comes from its cardless-based payment solution, enabling individuals and businesses to overcome the fear of being trapped at any point.

You can send money to anyone without requesting their account details, just a phone number. Azapay includes all your banking needs; send money, receive money, buy airtime or data, pay bills and lots moreThe Nigerian startup currently employs 105 people full-time, and some of its most important job functions are customer success and support, sales, finance.
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