Fintech startups in Nigeria 2017-2023

Published by Statista Research Department, Nov 9, 2024
In 2023, there were 217 fintech startups in Nigeria. Compared to the previous years, the number of startups in this sector experienced an increase. Nigeria has, in fact, some of the highest amounts of fintech startups in Africa.

Number of fintech startups in Nigeria from 2017 to 2023

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Release date

January 2024

Region

Nigeria

Survey time period

2017 to 2023

Supplementary notes

The source adds the following information:
"Fintech - financial technology - is an umbrella term used to describe tech-enabled solutions disrupting traditional financial services, and challenging incumbent service providers. While increasingly, many companies include an element of fintech in their work, and incumbents launch fintech-esque products in-house, this report focuses on startups with a fintech solution at the core of their business. So, for example, while an e-commerce platform which accepts payments is not a fintech startup for the purposes of this report; an agri-tech company operating a crowdfunding solution specifically for farmers is considered a fintech venture. A fintech product rolled out by a bank or established company will not be included in this report even if it self-refers as a startup".

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