Nigeria’s top 10 startup founders by funding raised in 2025

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In 2025, Nigeria’s startup founders emerged not just as entrepreneurs, but as key economic actors, directing hundreds of millions of dollars in foreign and domestic capital into critical sectors of the economy.

Beyond products and sectors, investors concentrated hundreds of millions of dollars behind a small group of executives whose professional histories, governance discipline, and execution track records inspired confidence in a cautious global funding climate.

Nairametrics data shows that while 98 startups raised funding during the year, just 11 companies accounted for an estimated 83% of total capital inflows, underscoring how investor capital increasingly clustered around founders with institutional credibility and long-term execution track records.

Founders such as Oluwatosin Michael Eniolorunda of Moniepoint, Chief Diana Chen of Lagride, and Ridwan Akangbe Olalere of LemFi stood out not merely for the size of capital raised, but for the depth of experience they brought into payments, mobility, and energy sectors critical to Nigeria’s financial inclusion, infrastructure resilience, and productivity growth.

No publicly available information exists on the dates of birth for Chief Diana Chen, Adeola Adedewe, Deepankar Rustagi, Victor Alade, Seyi Ebenezer, Mouloukou Sanoh, and Christopher Longbottom.

Across fintech, energy, retail, and logistics, 2025 reinforced a defining shift in Nigeria’s startup economy, leadership credibility, governance maturity, and capital efficiency now matter as much as innovation itself.

Founders who attracted most startup funding into the economy in 2025

Seyi Ebenezer – Payaza

• 2025 funding: $10 million (Debt)
• Startup founded: 2022
• Sector: Fintech
• Co-founder(s): — None

Seyi Ebenezer is the founder and CEO of Payaza, a cross-border payments and financial infrastructure platform serving African businesses. In a year when many fintech peers leaned heavily on equity raises, Ebenezer took a more conservative path, opting for non-dilutive financing to fund Payaza’s expansion.

He holds an MBA from Northwestern University’s Kellogg School of Management and Lagos Business School. Before founding Payaza, Ebenezer built a strong banking career, working at Access Bank and Keystone Bank in commercial and corporate banking roles.

In 2025, Payaza raised $10 million through a commercial paper issuance approved by the Securities and Exchange Commission (SEC). The debt-led funding structure underscores Ebenezer’s focus on balance-sheet sustainability, cash-flow discipline, and long-term resilience over valuation-driven growth.

Mouloukou Sanoh – Mansa

• 2025 funding: $10 million (Debt component)
• Startup founded: 2023
• Sector: Fintech (Stablecoin & Liquidity)
• Co-founder(s): Nkiru Uwaje

Mouloukou Sanoh is the founder and CEO of Mansa, a stablecoin-powered fintech providing liquidity for remittance and cross-border payment flows in emerging markets. A Forbes 30 Under 30 nominee, Sanoh operates at the intersection of blockchain infrastructure and traditional financial rails.

Educated at The Chinese University of Hong Kong, Sanoh brings deep Web3 and investment experience to Mansa. Before founding the company, he ran one of Africa’s largest Web3-focused venture capital funds and previously built Cassava Network, one of the continent’s notable crypto companies.

In 2025, Mansa raised a total of $10 million, split between debt and equity, to support transaction liquidity rather than customer acquisition. The funding reflects Sanoh’s infrastructure-first approach to fintech, positioning Mansa as a back-end enabler within the global payments ecosystem.

Victor Alade –Raenest

• 2025 funding: $11 million (Series A, February 2025)
• Startup founded: 2022
• Sector: Fintech
• Co-founder(s): Richard Oyome, Sodruldeen Mustapha

Victor Alade is the co-founder and CEO of Raenest, a fintech platform that enables African startups and freelancers to manage multi-currency accounts, compliance, taxes, and team expenses.

A graduate of the Federal University of Technology, Minna, Alade represents a growing cohort of locally trained fintech founders gaining global investor confidence.

Before founding Raenest, Alade worked as a senior software engineer at Jumia and Andela, building strong technical foundations across large-scale digital platforms.

In February 2025, Raenest raised $11 million in a Series A round led by QED Investors, with participation from Norrsken22, Ventures Platform, P1 Ventures, and Seedstars.

The Series A accounts for the bulk of Raenest’s disclosed funding to date and positions Alade as a founder trusted by institutional fintech investors early in the company’s lifecycle.

Ayoola Dominic –Koolboks

• 2025 funding: $11 million (Series A, August 2025; excluding grants)
• Startup founded: 2019
• Sector: Energy & Water (Climate-tech)
• Co-founder(s): Deborah Gael

Born in 1992, Ayoola Dominic is the founder and CEO of Koolboks, a renewable energy refrigeration company serving off-grid and underserved markets. He holds a degree in Pharmacy from Obafemi Awolowo University and a master’s degree from EDHEC Business School in France.

Before Koolboks, Dominic built a diverse international career, working as a Marketing Intelligence Officer at L’Oréal, a Talent Management Consultant at Robert Walters, and Director of Operations for the Middle East and Africa division at Servier in France.

In August 2025, Koolboks raised an $11 million Series A round led by KawiSafi Ventures and co-led by Aruwa Capital, with participation from All On and others. Dominic’s leadership blends operational discipline with climate-focused innovation, using a pay-as-you-go model to deliver affordable cold-chain solutions across emerging markets.

Femi Adeyemo –Arnergy

• 2025 funding: $15 million (Series B extension, April 2025)
• Startup founded: 2013
• Sector: Energy & Water
• Co-founder(s): Kunle Odebunmi

Born in 1987, Femi Adeyemo founded Arnergy over a decade ago, positioning it as a distributed energy company delivering solar power solutions to homes and businesses across Nigeria.

He studied Engineering at the University of Ibadan, earned a master’s degree in Metallurgy and Materials Science from the University of Lagos, attended KTH Royal Institute of Technology in Sweden, and later obtained a Master’s in Finance from London Business School.

Adeyemo’s professional background spans investment banking and operations, with prior roles at PwC, First Securities Discount House (FSDH), and Huawei.

In April 2025, Arnergy raised an additional $15 million as an extension of its Series B, bringing total Series B funding to $18 million. The raise reinforced Arnergy’s positioning as critical energy infrastructure rather than speculative climate technology.

Christopher Longbottom –Mopo

• 2025 funding: $15 million (Debt & Grant)
• Startup founded: 2013
• Sector: Energy & Water
• Co-founder(s): Jono West

Christopher Longbottom is the co-founder and CEO of Mopo, an energy access company providing battery rentals through solar-powered hubs in underserved communities. A graduate of the University of Stirling in the UK, Longbottom has spent more than a decade building long-cycle energy infrastructure across Africa.

In 2025, Mopo secured approximately $15 million in combined debt and grant funding to expand its hub network and battery assets. Longbottom’s approach prioritizes steady infrastructure deployment over rapid consumer scaling, aligning with development finance and impact-oriented capital structures.

Deepankar Rustagi –Omnibiz

• 2025 funding: $20 million (Series A)
• Startup founded: 2019
• Sector: Retail / B2B Commerce
• Co-founder(s): Anand Leo

Born in 1984, Deepankar Rustagi is the founder and CEO of Omnibiz, a B2B commerce platform digitizing Nigeria’s informal retail supply chains. Educated at Visvesvaraya Technological University in India, Rustagi brings manufacturing and supply-chain expertise to one of Africa’s most fragmented markets.

Before Omnibiz, he worked as a zonal marketing manager at Dfil Group and national sales manager at Lucky Fibre. He also founded earlier ventures including VConnect and Mplify Limited.

In April 2025, Omnibiz raised $20 million in a Series A round backed by Norfund, Timon Capital, Ventures Platform, Aruwa Capital, and Flour Mills of Nigeria. With nearly 600 employees, Omnibiz ranks among Nigeria’s largest B2B startup employers.

Adeola Adedewe– Kredete

• 2025 funding: $22 million (Series A)
• Startup founded: 2021
• Sector: Fintech
• Co-founder(s): — none

Adeola Adedewe is the founder and CEO of Kredete, a fintech company focused on embedded credit, payments, and financial management tools for individuals and businesses. He holds a BSc in Accounting and Finance and a master’s degree in Business Administration from The City University of New York.

A Techstars alumnus, Adedewe previously worked as an Accounting Manager at WeWork, Senior Underwriter at JPMorgan Chase & Co., and Tax and Audit Accountant at KPMG.

In September 2025, Kredete raised a $22 million Series A round led by AfricInvest, with participation from Partech Africa and Polymorphic Capital. The funding marked a major institutional vote of confidence in Adedewe’s disciplined, infrastructure-focused fintech strategy.

Ridwan Olalere –LemFi (Lemonade Finance)

• 2025 funding: $53 million (Series B)
• Startup founded: 2020
• Sector: Fintech
• Co-founder(s): Rian P. Cochran

Born in 1989, Ridwan Akangbe Olalere founded LemFi to address the persistent challenge of affordable and reliable cross-border banking for Africans in the diaspora. He studied Physics and Electronics at Bells University of Technology and later attended the Shenyang Institute of Aeronautical Engineering in China.

Before LemFi, Olalere worked at Uber as Country Manager and held senior engineering and operations roles at Flutterwave and OPay.

In January 2025, LemFi raised $53 million in a Series B round led by Highland Europe and Left Lane Capital, with participation from Y Combinator and Endeavor. Olalere’s leadership emphasizes regulatory compliance, trust, and corridor-by-corridor expansion rather than aggressive blitz scaling.

Tosin Eniolorunda– Moniepoint (TeamApt)

• 2025 funding: $100 million (Venture Rounds)
• Startup founded: 2015
• Sector: Fintech
• Co-founder(s): Felix Ike

Born in 1985, Oluwatosin Michael Eniolorunda is one of Nigeria’s most experienced fintech founders. He studied Engineering at Obafemi Awolowo University and later attended Lagos Business School.

Before founding Moniepoint, Eniolorunda spent five years at Interswitch, rising through roles including Senior Software Engineer, Unit Head of Application Development, and Product Manager.

In 2025, Moniepoint raised a combined $100 million across two venture rounds backed by Visa, Development Partners International, LeapFrog Investments, Google for Startups Black Founders Fund, and Verod Capital. With over 4,500 employees, Moniepoint is among Nigeria’s largest fintech employers.

Chief Diana Chen –Lagride

• 2025 funding: $100 million (Strategic Investment)
• Startup founded: 2022
• Sector: Logistics & Transportation
• Co-founder(s): Lagos State Government

Chief Diana Chen is the founder and Chairman of Lagride, a Lagos-backed ride-hailing and mobility platform positioned as public infrastructure delivered through private-sector execution. She is also Chairman of CIG Motors Group Nigeria and Vice Chairman of the China–Africa Business Council (Nigeria).

A graduate of Peking University HSBC Business School, Chen founded Choice International Group over 23 years ago and has spent more than 11 years operating in Nigeria, playing a central role in China–Nigeria commercial relations.

In December 2025, Lagride secured a landmark $100 million strategic investment from United Bank for Africa (UBA). Under Chen’s leadership, Lagride has scaled with a lean operational structure, emphasizing governance, institutional partnerships, and long-term urban mobility planning.