Tech companies in Nigeria have become quite a sensation online & offline because of the services they offer and how they've tried to proffer solutions to major problems we face in Nigeria.

According to Tech Point Africa, Nigerian startups have raised $377M in 2019, more than twice the value of 2018.

These 10 tech companies have raised the most capital since 2019;

Branch International

Founded in 2015, Branch delivers world-class financial services to the mobile generation. With offices in San Francisco, Lagos, Mexico City, Mumbai and Nairobi, Branch is a global, socially conscious company that uses the power of data science and mobile technology to reduce the barriers of delivering financial services in emerging markets. Branch raised a $170M Series C financing round led by Foundation Capital and Visa. The company also announced a new global partnership with Visa.

Opay

OPay is a one-stop mobile-based platform for payment, transportation, food & grocery delivery, and other important services in your everyday life. Millions of users rely on OPay everyday to send and receive money, pay bills, and order food and groceries.This Africa-based mobile payments startup was founded by Norwegian browser company Opera in 2018. The Nigerian fintech startup raised $120 million in a Series B funding round. Inspired by the injection of the new capital, OPay plans to use the funds to scale up operations in Nigeria and expand its payments product to Kenya, Ghana and South Africa.

Bolt

Bolt, previously known as Taxify, is the leading European transportation platform providing ride-hailing and scooter sharing services. The company’s mission is to make urban travel easier, quicker and more reliable. Founded by Markus Villig, Bolt launched in 2013. It’s one of the fastest-growing transportation platforms in the world. The Estonia-based company raised $109 million in funding. Bolt also confirmed that it is now valued at €1.7 billion (or nearly $1.9 billion at today’s rates). The money is coming from a single investor, Naya Capital Management, which was also a major backer of the company in its last round, a $67 million Series C in July 2019.

Andela

Connects Africa’s top software developers with technology companies from the U.S. and around the world, has raised $100 million in a new round of funding.

TLcom Capital

TLcom Capital LLP is a Lagos, Nairobi and London based Venture Capital firm focused on Tech enabled companies across Sub Saharan Africa. TLcom has been investing across Europe, Israel and the US since 1999, with more than $300m under management. TLcom has closed $71M to invest in 12 startups in Nigeria, Kenya and South Africa With the new $71 million funds, TLcom Capital plans to focus primarily on startups in Africa’s big-three tech hubs: Nigeria, Kenya and South Africa. The firm is also considering rising markets, such as Ethiopia.

Palmpay

Launched in 2019, PalmPay is a mobile payments platform that offers a number of financial services. On the most basic level, it allows users to send and receive money through their smartphones into their PalmPay wallets or regular bank accounts. The company raised $40 million seed funding in November 2019. The PalmPay service is available in Nigeria and Ghana. It has plans to expand to two more African countries by the end of 2020.

Flutterwave

Flutterwave provides digital payments infrastructure and services which enable global merchants, payment service providers and pan-African banks to accept and process payments across various channels. The company recently raised a $35M Series-B round led by US venture capital firms Greycroft and eVentures. According to the CEO, The funding will be invested in technology and business development to grow market share in the countries it currently operates in.

Lori System

Lori Systems is a logistics coordination platform that seamlessly connects Cargo Owners to Transportation. Founded by chief executive officer (CEO) Josh Sandler in 2016, Lori Systems provides supply chain management solutions to cargo owners, ensuring flexibility, reliability and cost savings.The startup opened operations in Uganda, Rwanda and South Sudan in 2018, and last month expanded to Nigeria. The Kenyan logistics startup Lori Systems raised $30M dollar in funding.

Jiji

Jiji is the best place to sell anything to real people. It is the biggest free online classified with an advanced security system. They provide a simple hassle-free solution to sell and buy almost anything. Jiji raised from six investors, led by Knuru Capital, $21 million in Series C andC-1 funding. Jiji is preparing to use the new investment to increase the total number of buyers, sellers and transactions on its platform.

Migo

Migo, a fintech startup offering credit-as-a service to large companies, has raised $20 million in a Series B round led by Brazil-focused venture firm, Valor Capital Group. The round also saw participation from existing investors including The Rise Fund and Velocity Capital. Migo is one of several startups focused on helping Brazilians have increased access to personal financing options.