Top 10 Tech Companies in Lagos, Nigeria

The buzz around tech disruption in Nigeria is no longer hype but a clear reflection of the country’s technological advancements both at home and at the global stage.

According to Business Day, Nigeria is only second to Kenya on the list of African countries with the highest startup funding.

The problems these startups are solving, along with the groundbreaking innovations, have attracted funding and placed them on the global scale to compete favourably with global giants.

Many tech companies in Lagos, Nigeria are leveraging technology to create jobs, solve problems, and empower people. However, for the sake of this text, we will outline the top 10 tech firms in Nigeria making a difference.

10 Tech Companies in Lagos
Frequently Asked Questions on List of Tech Companies in Lagos
Conclusion
References
Recommendations

10 Tech Companies in Lagos

These tech behemoths are revolutionizing how Nigerians live, work, and conduct business by slicing through important industries, including FinTech, education, e-commerce, hospitality, and more.

And their income, innovation, and growth all show this significant shift—breaking the scale, becoming leaders, and establishing Nigeria as a centre for digital excellence.

The top ten tech firms in Lagos are as follows:

1. Flutterwave – $3 billion

After working for many traditional banking institutions, two young entrepreneurs Olugbenga Agboola and Iyioluwa Abodeji set out to establish a disruption that was going to compete with the big giants in the industry.

Through a series of fundraising, Flutterwave has grown to become a Unicorn with over $3 billion in valuation.

Their main offering is the payment gateway, which enables companies to send and receive money using digital wallets, bank accounts, credit cards, and debit cards. Additionally, they provide a variety of offline and online payment methods.

Due to its wide range of services and payment options—accepting up to 150 different currencies—this payment gateway is also linked to well-known systems like PayPal.

Additionally, Flutterwave provides developers with APIs and software development kits (SDKs). Developers can customize the payment process to meet their needs by using these tools to integrate Flutterwave’s payment system into their program.

2. Opay – $3 billion

What started as a ride-hailing app rose through the ranks to become a leading FinTech company in Lagos.

With lots of subsidized financial services and products, Opay has grown to become a leading financial service provider with improved service experience and lots of customer-centred.

Opera Software, which is owned by Chinese billionaire Yahui Zhou and operates the web browser Opera, introduced OPay in 2018.

Opay provides a broad range of financial services for both individuals and businesses, including internet banking, savings accounts, airtime purchases, money transfers, and much more.

Opay became the main bank alternative for money transfers and bill payments during the 2023 financial crisis. The FinTech company is now well-known and one of the most popular banking apps in Nigeria.

The company offers good returns on savings in addition to cashback incentives for specific purchases.

Read this: 5 Best Cryptocurrency Exchange Platforms to Watch Out in 2025

3. Andela – $1.5 billion

Christina Sass, Ian Carnevale, Brice Nkengsa, Nadayar Enegesi, Iyinoluwa Aboyeji, and Jeremy Johnson founded Andela in 2014.

By assisting IT talent around the continent and providing top international tech businesses with access to a pool of highly skilled workers, Andela, one of the tech startups in Lagos, is helping to rewrite the narrative of Africa’s digital talent.

Software developers and engineers are trained by Andela, which also links them with businesses throughout the world that require their skills and knowledge. Their model is revolutionary.

They do more than just instruct developers; they also help them advance professionally and put them in touch with companies like Google and Microsoft. This arrangement is advantageous to the developers and the companies they collaborate with.

4. Paystack – $1.5 billion

When the duo of Shola Akinlade and Ezra Olubi were asked about their startup in Y combinator, they said it was Stripe for Africa. Since then they have lived up to that notion.

With several competitors around, Shola and Ezra went on with an entrepreneurial audacity that saw them develop a leading payment service infrastructure for businesses.

Businesses can safely and swiftly accept online payments through a variety of channels, including bank transfers, mobile money, and debit and credit cards, thanks to Paystack’s platform. The platform also accepts payments in Naira (NGN) and US dollars (USD).

The platform also provides a method that allows businesses to set up and manage recurring payments or client subscriptions, along with an improved fraud detection system.

Paystack was acquired by Stripe, an Irish-American financial services company, in 2020. The transaction was very successful for Paystack and consolidated its place as one of the leading tech firms in Nigeria.

5. ULesson – $ 1Billion+

Nigerian businessman Sim Shagaya established the Abuja-based digital firm ULesson, which stands for “Universal Lesson,” in 2019. ULesson is a platform that offers African students educational technology (ed-tech) solutions.

Before Ulesson, Sim founded and ran an e-commerce company, Konga and Dealdey. Zinox Technologies acquired Konga in a deal worth over N 400 Million.

ULesson wants to make high-quality education freely available and reasonably priced for students all over Africa, particularly in disadvantaged regions.

Additionally, its app offers practice exercises and interactive, curriculum-aligned video lectures to assist students in better understanding difficult subjects and achieving academic success.

The offline mode, which enables you to download lessons and study materials and access them without the internet, is one of ULesson’s greatest benefits.

You should read this article: 10 Best Tech Brands in Nigeria

6. Interswitch – 1Billion +

The story of tech disruption in Nigeria will not be complete without the inclusion of Interswitch. Known as the pioneer tech company in Nigeria, Interswitch laid what is known as the groundwork for other FinTech platforms.

Interswitch is not just one of the tech companies in Lagos, Nigeria. It is one of the oldest and most well-known digital payment and commerce companies in Nigeria, offering integrated payment and transaction solutions across the African continent. Mitchell Elegbe established Interswitch in 2002.

Interswitch has been at the forefront of Africa’s FinTech revolution ever since, paving the way for others to follow. Interswitch provides integrated payment solutions and transaction processing across Africa. The well-known products from Interswitch are Quickteller and Verve.

They simplified bill payment, money transfers, and shopping. Furthermore, Nigeria’s financial inclusion has greatly risen thanks to its electronic payment methods.

7. Jumia – $1 Billion

Once referred to as the Amazon of Africa, Jumia has broadened to become a household e-commerce platform in not just Nigeria but Africa. Jeremy Hodara, Raphael Kofi Afaedor, Tunde Kehinde, and Sacha Poignonnec launched it in 2012.

Similar to Amazon, they offer a platform that enables consumers in Nigeria to quickly locate and purchase anything they require from a single online retailer—their website. In 2019, Jumia became the first tech company from Africa to list on the New York Stock Exchange (NYSE).

They have also effectively grown to incorporate Jumia Pays, Jumia Food, and many more things. Even though Jumia is still struggling to maintain profitability, it has not failed to continue innovating new ways to shop online in Nigeria.

8. Moniepoint – $1 Billion

Moniepoint is a startup that processes payments and conducts digital banking.

It began by developing banking software, but it has since broadened its scope to include direct consumer access to digital financial services that help small and medium-sized enterprises in Nigeria make payments.

Their POS mobile money platform is the most popular among Nigeria mobile money merchants and businesses.

Moniepoint became a unicorn after raising $110 million in a Series C investment round headed by a British private equity group. To spearhead financial expansion, the organization hired a new CFO.

9. Moove – $750 million

Moove is one of the companies in Lagos, Nigeria, changing the future of vehicle financing in Nigeria. Additionally, the company operates in Ibadan and other African locations. Ladi Delano and Jide Oduns founded Moove in 2019, although it wasn’t completely operational until June 2020.

Moove offers affordably priced vehicle financing options, including low-interest loans for drivers who want to buy automobiles for business use and pay them back over four years to African mobility entrepreneurs.

Additionally, they provide financial services and revenue-based car finance to mobility entrepreneurs on platforms for ride-hailing, logistics, public transit, and fast delivery.

Accepting a $100 million investment from Uber was one of Moove’s key decisions; following the transaction, the company’s valuation increased to $750 million, making it one of the biggest tech firms in Nigeria.

10. Kuda – $500 Million

Kuda is Nigeria’s first digital-only bank, offering seamless and cost-effective banking solutions with no physical branches. The company raised $55 million in a Series B funding round in 2021, positioning itself as a leader in Nigeria’s emerging digital banking sector.

Kuda offers zero fees on transfers besides loans, bill payments, overdrafts and company stock investments. These and many more positioned Kuda as one of the leading tech firms in Nigeria.

Frequently Asked Questions on List of Tech Companies in Lagos

What is the most valuable tech company in Lagos?

Leading the field with a $3 billion valuation, Flutterwave is among Africa’s most valuable tech company in Lagos.

Which FinTech company is best in Lagos?

Moniepoint has risen through the ranks to become the best FinTech company in Lagos, with over 10 million users.

How much do tech companies pay in Lagos?

FinTech companies pay as high as N 100,000 to N3 Million which depends a lot on the skill set.

What is the highest paying tech job in Lagos?

Cloud architects, cybersecurity specialists, DevOps engineers, and AI and machine learning engineers are among the top-paid IT positions in Lagos.

Conclusion

For Nigerian IT startups, the future seems bright and optimistic. The nation’s technology is developing quickly, and it is becoming a major force in the African tech scene.

To address regional and worldwide attention, startups and creative businesses, including FinTech platforms, Edtech projects, and online trading platforms, are aggressively seeking investment and implementing new technology.

Nigeria’s technology sector is among the most fascinating and promising in the world due to its rapid development and innovation.

Many top tech firms in Nigeria are doing great with many innovations. However, with time we will unveil more companies doing great in the tech field.