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News and Updates on Entrepreneurship in Nigeria

OPay raises $50 million from investors to strengthen its position in Nigeria, expand to additional African markets

Incubated by Opera, OPay raises $50 million to strengthen the company’s position in Nigeria, expand to additional African markets and leverage its brand and app into adjacent verticals, including motorbike ride-sharing and food delivery services. IDG Capital, Sequoia China, Source Code Capital and Opera led the new investment. OPay recently …

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Opera founded startup OPay raises $50M for mobile finance in Nigeria

OPay, an Africa-focused mobile payments startup founded by Norwegian browser company Opera, has raised $50 million in funding. Lead investors include Sequoia China, IDG Capital  and Source Code Capital. Opera  also joined the round in the payments venture it created. OPay will use the capital (which wasn’t given a stage designation) primarily to grow its digital …

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Startups trying to fix Nigeria’s broken healthcare system are winning global investor interest

Health-focused startups have been low-profile players in Nigeria’s burgeoning tech ecosystem over the past decade—but that’s starting to change. Startups identifying gaps in the healthcare delivery value chain across Africa’s most populous country are increasingly winning investor attention and dollars. The sector reached a milestone this month as 54gene, a …

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MAX.ng raises $7M round backed by Yamaha and pilots EVs in Nigeria

Nigerian motorcycle transit startup MAX.ng has raised a $7 million funding round led by Novastar Ventures, with participation from Japanese manufacturer Yamaha. Based in Lagos, the company’s app-based platform coordinates motorcycle taxi and delivery services for individuals and businesses. Six million of the investment is in Series A capital followed by $1 …

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