The FinTech Association of Nigeria says operators in its industry accounted for 63 per cent of the 1.37 billion dollars funding raised in Nigeria in 2021.
Mr Ade Bajomo, President of the association, said this on Saturday in Lekki, Lagos, at a dinner held at the FinTech Platinum Awards ceremony.
Bajomo noted that Nigeria had been well-positioned in Africa and in the global FinTech ecosystem.
He said Africa could currently boast of 10 unicorns out of which seven – Jumia, Fluttwerwave, Andela, Chipper Cash, Airtel Africa, OPay and Interswitch – are owned by Nigerians.
His words, “In a similar light, Nigerian start-ups raised 1.37 billion dollars of the four billion dollars raised in Africa in 2021.
“Of these, the FinTech space alone accounted for about 63 per cent of all total funding, compared with just 25 per cent in 2020.
“The growing investor confidence in African FinTech reflects the continent’s huge potential due to deepening mobile and internet penetration, a youthful population, increasing consumer sophistication and income, amongst many other factors.
“When you think about how far FinTech in Nigeria has come, you should thank the incredible entrepreneurs who envisioned, pioneered and executed strategic moves that have now crystallised into strong and growing companies.’’
