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TechNigeria: A weekly digest of what went down in Nigeria’s tech space



There is a lot to share with you this weekend. You won’t be missing out on any major development recorded for the week after this reading.

We will share with you the fund raiser story of Lagos-based startup Eden and that of Enugu-based wifi-sharing venture, Wicrypt. Impressively, both startups closed over $1 million during the week.

Aside Eden and Wicrypt, there are other updates you should not miss. Let’s get right into it.

Wicrypt’s $1.5m funding

Leading our fund raiser table is Wicrypt, an Enugu-based startup. The Wi-Fi sharing startup closed a strategic US$1.5 million funding.

Leading the round is AU21 Capital, with the vision to help the enterprise expand into new countries.

For those who don’t know about the startup: Wicrypt was founded in 2018 as a decentralised mobile internet sharing and monetisation network that allows anyone to get paid for sharing their Wi-Fi.

Now $1.5 million is in the bag. You can only imagine what will follow.

Luno’s milestone

Crypto venture Luno hits 9 million customers milestone. The startup was founded in 2013 but did not reach 1 million customer base until 2017.

It attracted a lot of buzz online during the week for adding a million more users in only four months.

READ ALSO: Nigeria’s Wicrypt closes $1.5m funding to scale venture. 1 other thing and a trivia

The new milestone tells us a lot about how the world is reacting to cryptocurrencies.

Luno was founded by South Africans Marcus Swanepoel and Timothy Stranex in 2013, allowing users buy, sell, and store cryptocurrencies.

Eden Life’s raiser

Lagos-based startup, Eden Life, also during the week, closed a $1.4 million seed capital, an investment led by UK-based LocalGlobe.

The startup is a leading home chore on-demand service provider that helps users manage food, laundry and cleaning services via its mobile app.

The round is expected to be used to further grow and develop the innovative tech startup’s in-house technology.

On the deal book, the round saw the participation of Samurai Incubate, Future Africa, Village Global, Rising Tide Africa and Enza Capital.

Mono as the highlight of the week

Africa-focused fintech startup, Mono, secured $15 million in a Series A round of investment.

Led by Tiger Global, the funding window saw the participation of new investors like Target Global (an investor in neobank Kuda), General Catalyst, and SBI Investment.

The tech venture allows users easily connect their bank accounts to financial apps.

Venture analysts noted that the investment makes the third major investment by Tiger Global in Africa, this year.

Opay’s recognition

Police shuts down OPay office in Kano

Finally, we saw how Nigeria’s Opay, during the week, made CB Insights’ top 250 fintech startups list

Priding itself as a leading fintech player, the new development comes on the heels of its recent $400 million raiser.

It would be recalled that the raiser was the highest raiser in the third quarter of 2021 by any startup based in Africa.

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