Nigeria’s startup ecosystem recorded a major rebound in August 2026, posting one of its strongest funding activities with 20 startups raising a combined $364.1 million in funding.

The August figure represents a surge from the $4.9 million raised by six startups in July 2026 and a substantial improvement from the $20.1 million secured across three deals in August 2025.

An analysis of the disclosed transactions compiled by Nairametrics Research reviewed that the month was driven by a combination of mega deals, growth-stage investments, venture rounds, debt financing, pre-seed transactions, and grant funding across sectors including logistics, fintech, deeptech, agriculture, healthcare, education and jobs placement.

The $364.1 million raised in August represents an increase of $359.2 million, or 7,330.6%, from the $4.9 million recorded in July 2026, highlighting renewed investor confidence in Nigerian startups despite persistent macroeconomic challenges, foreign exchange pressures, and a tougher global venture capital environment.

August 2026 delivered both a substantial increase in the amount of capital raised and a significant expansion in the number of startups that received funding.

Moove’s $250 million raise influenced the funding rounds

The most significant deal of the month came from logistics and transport technology company Moove, which raised $250 million in a Series C round backed by Mubadala Investment Company, Woven Capital, and Ion Pacific. Moove was valued at approximately $2.1 billion following the transaction.

The transaction alone accounted for nearly 69% of all startup funding recorded during the month, underscoring investors’ continued appetite for scalable businesses with proven revenue models and expansion potential.

Notably, without the Moove deal, funding activity would still have totaled approximately $114.1 million, which remains significantly stronger than the figures recorded in both July 2026 and August 2025.

Jumia and Yellow Card also propelled the investments

Beyond Moove, two other major transactions helped shape August’s funding landscape.

Collectively, Moove, Jumia and Yellow Card accounted for $340 million, representing more than 93.4% of the total capital raised during the month.

Source: Nigeria startups pull $364 million in one month, Moove drives rebound - Nairametrics