Top 15 Richest Tech Companies in Nigeria

Nigeria’s technology sector has grown amazingly to attain a leading position in the digital economies of Africa. Such growth is due to innovative tech companies that have attained huge financial success and at the same time contributed to the nation’s economic development.

It only proves that the top richest tech companies are an indication that it might probably end up as an African technological powerhouse.

This contributes not only to high valuations but also to immense contributions to Nigeria’s economy; creating jobs, attracting foreign investments into the country, and fostering innovation-justifies why this study focuses on such key companies.

These tech giants act as inspirations for entrepreneurs and technology enthusiasts across the nation. More billion-dollar companies can be born soon in the Nigerian tech ecosystem with proper support.

In this article, we show you the richest tech companies in Nigeria; its founders, and their achievements.

How big is the tech industry in Nigeria?

This is an important and growing industry of the country’s economy, developed by skilled, ambitious, and well-educated professionals. Due to high internet usage and mobile connectivity, different tech startups and companies have mushroomed to provide solutions in areas such as fintech, e-commerce, and software development.

All these factors have attracted massive foreign investment and seen several unicorns rise in technology companies valued above $1 billion.

For example, the Nigerian fintech firm Moniepoint became a unicorn in 2024, after raising funding of $110 million, putting its valuation well over $1 billion.

What is the richest tech company in Nigeria?

One of the most famous and richest tech companies in Nigeria is Flutterwave. It is a FinTech company founded in 2016 by two brilliant individuals: Iyinoluwa Aboyeji and Olugbenga Agboola.

It is known for making the complex world of payments more straightforward for businesses to take online. It came out with a valuation above $1 billion, sealing its position as a tech unicorn.

Read Also: Top 5 African Tech Companies that can Become Unicorns in 2025

Who runs the richest tech company in Nigeria?

Olugbenga Agboola, popularly known as GB, is the co-founder and chief executive officer of Flutterwave. Before starting Flutterwave, Agboola was building fintech solutions for big tech companies and financial institutions like PayPal and Standard Bank.

Under his guidance, Flutterwave has grown to be one of the most prominent technology firms in Africa, reaching unicorn status and leading the continent in fintech innovation.

Richest Tech Companies in Nigeria

Below is an overview of the top 15 richest tech companies in Nigeria and their estimated valuation.

1. Flutterwave

Flutterwave was founded in 2016 in Nigeria, by Iyinoluwa Aboyeji and Olugbenga Agboola, to help other businesses accept payments across Africa.

It has grown to be one of the leading companies in that industry. Having its headquarters in Lagos, Nigeria, it has a presence in cities such as San Francisco, London, and Nairobi.

Flutterwave offers a suite of business tools for processing payments for these companies to scale. By 2023, Flutterwave raised over $475 million from investors and is valued at a billion dollars: $3 billion.

It alone processed over $9 billion in 2021-a testament to how well-received and trusted it is. The company now expanding globally with office openings in Europe and North America.

2. Interswitch

Interswitch is a leading firm in the digital payment space, products such as verve card and payment processing, of Nigeria, founded in 2002 by Mitchell Elegbe.

The payments giant, Interswitch’s Quickteller, allows people to pay bills and send money online. It also operates Verve, one of the largest payment card networks in Africa.

In 2019, it received $200 million from Visa; a deal that put the valuation of one of the rare African tech firms at $1 billion. Its headquarters are in Lagos, but it works across Africa.

Explore the Top 5 Fintech Companies That Will Raise More Money in 2025

3. Opay

Founded in 2018, in less than a year, Opay became one of the leading fintech companies in Nigeria. The company offers mobile payments, cab-hailing, food delivery, and bill payments.

Opay makes life easier for Nigerians to execute some daily activities, such as the payment of rides and sending money. It has received huge investments and expanded across Africa. Due to the innovative services offered by this company, Opay is now one of the richest tech companies in Nigeria.

4. Andela

Andela, an education and staffing company, was founded in 2014 that develop software developers in Africa. This company locates talented programmers for technology firms around the world.

Working with big names like Microsoft and IBM, the company helps businesses get themselves a good developer. Headquartered in Lagos, it is also present in many other African countries like Kenya and Uganda.

5. Jumia

Jumia, popularly described as “Africa’s Amazon,” was founded in 2012. It is an online marketplace from which one can purchase everything, from electronics to fashion. Indeed, Jumia revolutionized shopping in Nigeria by availing products of all kinds at your doorsteps and at the right time.

The company is now connecting buyers and sellers in Nigeria and across Africa, becoming among the leading e-commerce companies across the continent.

6. Moniepoint (formerly TeamApt)

Moniepoint is a Nigerian fintech company founded by Tosin Eniolorunda in 2015. The firm offers payment processing and business banking services.

Among the key services provided are agency banking services. This means reaching out to people in very remote areas and providing them with banking services. In 2024, the valuation of Moniepoint went above $1 billion, joining the echelon of the most valued tech companies in Nigeria.

7. Paystack

Founded in 2015, Paystack was founded by Shola Akinlade and Ezra Olubi to help businesses accept payments online. Paystack made sure that businesses could get all kinds of internet payment options.

When in 2020 Stripe acquired Paystack for well over $200 million to expand its pay network in Africa, it was able to show the world how African fintech businesses are crucial.

8. Konga

Co-founded by Sim Shagaya, Konga is one of the largest marketplaces in Nigeria, selling everything from electronic equipment to clothes, and managing to be among the points of reference in Nigeria when shopping is involved.

Besides, Konga developed a means through which one can ease online payment, making it even safer: KongaPay. In 2021, Konga had seen sales increase due to the influence of some sales events like Black Friday.

9. Paga

Paga is a mobile payment company founded by Tayo Oviosu in 2009, making it very easy to send money, pay bills, and buy things. Its network agents are scattered all over Nigeria, helping those living in places with no banks.

In return for its user-friendly services, Paga processes billions of dollars in transactions. Among the leading fintech companies in Nigeria, Paga grows more and more with every passing day.

10. SystemSpecs

SystemSpecs was founded in 1991 by John Obaro and is best recognized for its software-Remita. The software facilitates businesses, individuals, and governments to process payments and collections.

Remita has been adopted across Nigeria, including usage for the government’s TSA – Treasury Single Account – which has kept public funds transparent. Further, SystemSpecs has become among the front-runners in the technology sector of Nigeria.

11. IrokoTV

IrokoTV is the popular online streaming website for Nigerian movies and TV series. It was founded by Jason Njoku, an individual who boasts of arguably the largest content library in Nollywood today, presenting African entertainment to the world.

It has grown to be one of the pioneers in African digital content and continues to grow, creating original shows and building production studios.

12. Hotels.ng

Hotels.ng was one of the first online hotel booking sites in Nigeria, done by Mark Essien. The platform has been developed to assist customers in finding and booking top-class hotels around Nigeria and West Africa.

Hotels.ng, since its foundation, managed to attract several million dollars in investment aimed at improving its service and technology. Presently, it is among the biggest companies in the industry in the region.

See also: Top 5 Insurance Companies to Watch Out in 2025

13. Carbon

Formerly known as Paylater, Carbon is a Nigerian digital financial platform founded in 2016 by siblings Ngozi and Chijioke Dozie. The company provides services that range from instant loans to bill payments and money transfers, among others.

Probably the most striking feature of Carbon is its collateral-free loan service, which is very fast and available through its app. With its user-friendly approach, Carbon is changing the way Nigerians handle their finances.

14. Terragon Group

Terragon Group is a Nigerian technology business-to-business company, making use of data and technology to let businesses market effectively to African consumers.

Founded by Elo Umeh in 2009, it boasts big data, AI, and machine learning competencies core to its heart, thereby empowering enterprises to reach their targeted audience. Its main mission is to help enterprises in vertical industries like telecoms and finance better their marketing activity.

15. Cowrywise

Cowrywise is a fintech savings and investment company founded in 2017 by Razaq Ahmed and Edward Popoola. Its platform helps Nigerians save and invest in mutual funds.

Its application has made personal finance management very easy; thus, it’s gaining popularity, especially among the youth in Nigeria. This no-nonsense innovative approach has driven the company’s rapid growth in Nigeria’s Fintech space.

FAQs

What are the top tech companies in Nigeria?

Flutterwave, Paystack, Andela, and Jumia

What is the biggest Fintech company in Nigeria?

Flutterwave

What is the highest-paying tech job in Nigeria?

AI and Machine Learning Engineers

Conclusion

From innovations to economic contributions, the tech scene in Nigeria simply would not appear to relent, and Flutterwave yields no ground.

These tech giants feed into the potential of the country while raising the bar for young aspiring entrepreneurs and investors who look toward the digital future of Africa.

References

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Bright Emeka
Bright Emeka
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