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5 Nigerian Startups That Raised $1million in 2016

2016 has been a wonderful year for major startups in Nigeria who are keen to solving a specific problem within their niche.

Their efforts and contribution towards solving different issues have prompted investors to key into their dreams and visions. Investors have showered a whole lot of them with a whopping sum of money to help achieve their goals and also to improve their platforms and also staff acquisition.

Below are the 5 notable startups that raise $1million in 2016 – some raised more than $1million in their series A funding.

1. Hotels.ng

Hotels.ng secured an investment of $10 million from the Dangote Investment Group (DIG) and also $1.2 million it got from international investors EchoVC and Omidyar Network.

2. Printivo.com

Printivo closed a six-figure funding round from early-stage technology venture capital firm EchoVC Partners, which it plans to use to expand its product range, grow its staff, accelerate customer acquisition and scale the business.

3. ToLet.com.ng

ToLet.com.ng raised a $1.2 million Series A round of funding from Frontier Digital Ventures.

4. Paystack

Paystack secured $1.3M Seed investment from both international and homegrown investors.

The investors include Tencent, Comcast Ventures and Singularity Investments, with participation from Spark, M&S Partners, Tokyo Founders Fund, Blue Rinc Capital, Pave Investments, KIBS-CFY Partners, Michael Siebel, Justin Kan, Olumide Soyombo, Leonard Stiegeler and a number of Angels.

5. Adpump Ng (S&T Media)

S&T Media secured $1million from an early-stage technology venture capital firm, EchoVC Partner to invest in expansion, product development, and hardware/staff acquisition.

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