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5 Nigerian Startups That Raised $1million in 2016


2016 has been a wonderful year for major startups in Nigeria who are keen to solving a particular problem within their niche.

Their efforts and contribution towards solving different issues have prompted investors to key into their dreams and visions. Investors have showered a whole lot of them with a whopping sum of money to help achieve their goals and also to improve their platforms and also staff acquisition.

Below are the 5 notable startups that raise $1million in 2016 – some raised more than $1million in their series A funding.

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hotelsng-VergeHub secured an investment of $10 million from the Dangote Investment Group (DIG) and also $1.2 million it got from international investors EchoVC and Omidyar Network.



Printivo closed a six-figure funding round from early-stage technology venture capital firm EchoVC Partners, which it plans to use to expand its product range, grow its staff, accelerate customer acquisition and scale the business.

3. raised a $1.2 million Series A round of funding from Frontier Digital Ventures.

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4. Paystack


Paystack secured $1.3M Seed investment from both international and homegrown investors. The investors include Tencent, Comcast Ventures and Singularity Investments, with participation from Spark, M&S Partners, Tokyo Founders Fund,  Blue Rinc Capital, Pave Investments, KIBS-CFY Partners, Michael Siebel, Justin Kan, Olumide Soyombo, Leonard Stiegeler and a number of Angels.

5. Adpump Ng (S&T Media)


S&T Media secured $1million from an early-stage technology venture capital firm, EchoVC Partner to invest in expansion, product development, and hardware/staff acquisition.

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