Nigerian startups secured over $4.8 million in funding across 10 deals in July 2025, led by digital credit recovery and debt management platform, Bfree, and Mobility fintech firm Moove.
The funding, according to data tracked by Naijaonpoint Research, came through a mix of debt financing, venture capital, and grants.
Specifically, Bfree raised $3 million in debt financing from Verdant Capital, and it was the largest raise by any Nigerian startup in the month.
The company plans to expand its AI-powered debt collection solutions across African markets.
Moove followed with a $500,000 venture round led by Launch Africa. Known for financing vehicle ownership for drivers on ride-hailing platforms, Moove plans to use the funds to scale its operations and improve vehicle financing models.
However, the $4.8 million raised by Nigerian startups accounted for only 0.75% of the total funds raised by African startups in the month, which stood at $636.8 million.
Energy and agriculture-focused ventures dominated the month, with four startups receiving targeted grants from the Powering Renewable Energy Opportunities (PREO) program.
Other sectors that attracted funding included logistics, legal tech, and fintech, underscoring the resilience and diversity of Nigeria’s startup scene.
Energy & Water startups accounted for 50% of the funding deals, largely driven by grant support from PREO, while Logistics & Transport saw strategic debt and venture financing aimed at scaling operations in Nigeria’s mobility sector.
Fintech continued to attract capital, with Bfree and Flick securing both debt and equity rounds. Legal Tech made the list with PocketLawyers, highlighting growing investor interest in digitizing professional services.