Here are the top 10 startups in Nigeria for 2022 according to LinkedIn 

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Global professional networking site, LinkedIn, has published a list of 10 promising Nigerian startups that are overcoming the present challenges and attracting attention in 2022. The ultimate goal of this list is to serve as a resource for job seekers who are eager to join a cutting-edge startup, contribute to solving significant issues, and develop their skills.

According to LinkedIn, data were examined across four pillars for the compilation of this list: employee growth, jobseeker interest, member engagement within the company and its employees, and how well these startups attracted talent from their flagship LinkedIn Top Companies list.

Eligibility process

According to LinkedIn, the startups must be fully independent, privately held, and have at least 30 full-time employees in order to be eligible. They have to be no more than 8 years old and have their headquarters on the country’s list they would appear.

Staffing agencies think tanks, venture capital firms, law firms, management and IT consulting firms, nonprofit and philanthropic organisations, accelerators, and government-owned entities are excluded.

 NairametricsTop 10 Nigerian startups. Photo Credit: Nairametrics

Also, Nigerian startups that have laid off 20% or more of their workforce or more during the methodology time frame are ineligible.

LinkedIn’s Top 10 Nigerian startups

1. Bundle Africa

Bundle Africa is a social payment technology startup for cryptocurrency and cash transactions. The company helps drive crypto adoption on the continent by making it more fun, easy to use, and inclusive for Africans.

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It was founded in 2019 by the founder of Microtraction and former director at Binance Labs, Yele Bademosi with Emmanuel Babalola leading as CEO. The company has its headquarters in Lagos.

LinkedIn indicates that the Nigerian startup currently employs 60 people. Engineering, Customer Care, and Support are among the company’s largest job functions.

2. Utiva

Utiva is an educational technology startup founded in 2017 by Eyitayo Ogunmola with the goal of empowering people with technological know-how. In order to connect with and hire talent from within the platform and among Africans, it provides training services to significant startups and businesses.

With expert instructors, Utiva trains tech talents through live virtual classes in courses including Data Analysis, Product Management, Digital Marketing, Artificial Intelligence and UI/UX Design. The startup was Selected among the Winners of Facebook’s $3m Community Accelerator in 2021.

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According to LinkedIn, the startup currently has 55 full-time employees, with information technology, marketing, and engineering among the most prominent job functions.

3. Okra

Okra is described as an API “super-connector” that builds a secure portal and procedure to exchange real-time financial information between customers, applications, and banks.

Founded by Fara Ashiru Jituboh and David Peterside in June 2019, Okra provides API integrations to developers and businesses into existing banking services and takes commissions off subsequent transactions. The company says it has recorded over 150,000 live API calls and an average month-on-month API call growth of 281%. 

Okra

The Nigerian startup currently has 50 full-time employees, and according to LinkedIn, the most important qualifications for employment there are leadership, web development, and digital literacy.

4. Moove

Moove is a mobility fintech startup that was founded in 2020 by Ladi Delano and Jide Odunsi. It offers financial services and revenue-based vehicle financing to mobility entrepreneurs in ride-hailing, logistics, mass transit, and instant delivery platforms.

The mobility company has raised a total of $174.5 million in debt and equity funding in 2 years. It has a presence in six African cities including Lagos, Accra, Johannesburg, Cape Town, Nairobi and Ibadan. It also claimed that its customers have completed over 3 million rides covering more than 25 million kilometres.

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According to LinkedIn, Moove currently has 425 full-time employees working for the Nigerian startup, and the majority of the positions are spread across operations, customer success and support, and engineering.

Read Also; Is the car financing model of Moove and Lag Ride killing the gig in cab-hailing for drivers?

5. CowryWise

Founded in 2017 by Razaq Ahmed and Edward Popoola, Cowrywise provides a mutual funds investment and savings platform for individuals and businesses across Nigeria.

Having started out as a PiggyVest-like savings platform, Cowrywise has shifted its focus to tackling the problem of inaccessibility of credible investment opportunities to millions of Nigeria due to the concentration on top-end earners. Cowrywise says it has up to 220,000 registered users and is targeting 10 million registered users by 2025. 

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With affordable interest rates, the startup has made investment options more appealing to the average Nigerian who is looking for the best interest rates on any investments they make. Traditional banks usually charge high rates, hence leaving out a large proportion of underserved Nigerians.

According to LinkedIn, the platform has 45 full-time employees, the majority of whom work in sales, engineering, the arts, and design.

6. Bamboo

Bamboo is a digital investment platform that offers smart investment opportunities to Africans to promote long-term wealth growth. It was founded in 2019 by Yanmo Omorogbe and Richmond Bassey.

Bamboo

The app also provides instructional materials on fundamental investment strategies.

The startup currently employs 75 people, and according to LinkedIn, some of the job functions include customer success and support, arts and design, marketing, etc.

7. Nomba

Nomba, formerly known as Kudi, was founded in 2017 by Adeyinka Adewale and Pelumi Aboluwarin. The company started off as a chatbot primarily designed to simplify payment in 2017.

Nomba has evolved into an omnichannel payment platform that offers tools that enable businesses to quickly make and receive payments. Nomba currently processes over $16 million in payments daily with over 500,000 unique transactions and an onboarding rate of over 10,000 new businesses monthly.

KudiKudi-Nomba

According to LinkedIn, the Nigerian startup currently has 235 full-time employees, with engineering, operations, and sales among the largest job functions.

Read Also; African fintech company, Kudi, changes its identity to Nomba

8. Team Apt

TeamApt, a fintech startup founded in 2015 by Tosin Eniolorunda, focuses on developing and operating infrastructure for African banks, companies, and individuals to manage their money, by developing banking, credit, and management tools for various business needs. The startup says that it is servicing 26 financial institutions and processing $160 million in monthly transactions.

TeamApt

Moniepoint, its agency banking channel launched last year is perhaps its biggest win. Moniepoint agents use mobile apps and point-of-sale terminals to the unbanked access to financial services like cash withdrawal, cash deposit, funds transfer, airtime purchase and bill payments.

The Nigerian startup has 250 full-time employees, according to LinkedIn, and some of the most important job functions in the organisation are engineering, customer success and support, and information technology.

9. Prospa

Prospa is a fintech/digital banking service that offers an operating system for small to medium-sized businesses, with a suite of tools like loans, bookkeeping, and spending tools to help manage their business finances.

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The startup was founded by Frederik Obasi, Chioma Ugo, and Rodney Jackson-Cole in 2019, and currently has 70 full-time employees. Some of the largest job functions are in business development, engineering, and marketing, according to LinkedIn.

Read Also: We assessed the Prospa app and here is what we think

10. PiggyVest

Founded in 2016 by Joshua Chibueze, Odunayo Eweniyi, and Somto Ifezue. PiggyVest is an online platform for investing and saving that offers Nigerians opportunities to save money and make affordable investments that promote wealth creation and preservation.

piggyvest

The 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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