Nomba and Drive45 Lead $11.3M Startup Funding in Nigeria

In September 2026, Nigeria's startup ecosystem experienced a significant decline in funding, with nine startups raising a total of $11.3 million, down 96.9% from August's $364.1 million raised by 20 startups. This sharp decrease is attributed to the unusually large transactions in August, including Moove's $250 million Series C round, Jumia's $50 million, and Yellow Card's $40 million funding.

Despite the lower total capital, more startups received funding in September compared to the same month in 2025. Nomba, a fintech company, and Drive45, operating in logistics and transport, were the largest recipients, each securing $3 million through debt financing from CardinalStone Finance and TLG Capital, respectively.

ChipMango, a deeptech startup, raised $2.1 million through a $1.9 million seed round and a $200,000 venture round, accounting for approximately 18.6% of the total funding. Aeon, another deeptech startup, raised $1 million in a pre-seed round from Terra Industries, contributing to the funding landscape in waste management.