Nigerian Startups Raise $177.1 Million in January 2026

In January 2026, Nigeria's startup funding reached $177.1 million, a sharp decline from the $349.1 million raised in December 2025 and the $292.65 million in January 2025. A total of 28 startups secured funding across 75 deals during this month.

The top 10 startups accounted for $163.8 million, representing 92.49% of the total capital raised. This data, compiled by Nairametrics Research, indicates a slowdown in deal volume and overall funding activity compared to previous months.

Notably, the funding landscape remains heavily concentrated among a few leading startups. The report highlights that Flutterwave's deal, valued between $25 million and $40 million, was a significant exit rather than new capital raised.

Additionally, Tuteria, a Lagos-based tutoring marketplace, raised $2.6 million, backed by Enza Capital and Chui Ventures, marking a notable investment in Nigeria's startup venture fund, which has reached its lowest level in recent years.