In 2025, funding was allocated to startup founders who built for hard problems. Investors wrote larger cheques only for entrepreneurs running businesses with clear revenue logic, robust corporate governance, and models that can withstand Nigeria’s harsh realities, such as power, cross-border payments, retail distribution, and the complex logistics of moving people and goods.
The standout pattern was concentration. Data show that 98 startups raised capital in 2025, but only 11 companies accounted for an estimated 83% of the total inflow. In plain terms, most startups raised capital, but the largest sums went to a tight circle of executives whom investors believed could execute in a challenging global funding climate.
This shift suggests that, for Nigeria’s startup economy, credibility and innovation are inseparable twins at the top of the investor checklist.
Below is the top 10, ranked by the amounts raised in 2025, and what each founder’s path says about where investor confidence is settling.
10. Mouloukou Sanoh – MANSA ($10m)
9. Victor Alade – Raenest ($11m)
8. Ayoola Dominic – Koolboks ($11m)
7. Femi Adeyemo – Arnergy ($15m)
Adeyemo founded Arnergy in 2013 and has spent more than a decade building distributed energy solutions for homes and businesses across Nigeria. In 2025, Arnergy raised an additional $15 million in April as an extension of its Series B, bringing total Series B funding to $18 million.
His education runs across engineering and finance. He attended the University of Ibadan, got a master’s degree in metallurgy and materials science from the University of Lagos, attended KTH Royal Institute of Technology, and later earned a master’s in finance from London Business School.
He has also worked across finance and operations, including roles at PwC, First Securities Discount House, and Huawei.
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6. Christopher Longbottom – MOPO ($15m)
5. Deepankar Rustagi (Omnibiz) – $20m
4. Adeola Adedewe (Kredete) – $22m
3. Ridwan Olalere (LemFi) – $53m
2. Tosin Eniolorunda (Moniepoint) $100m
 and one of the most established fintech operators in the country. He studied engineering at Obafemi Awolowo University and later attended Lagos Business School.</p>
<p>Before <span>founding Moniepoint, he spent five years at Interswitch, advancing</span> from senior software engineer to unit head of application development and product manager.</p>
<p>In 2025, Moniepoint raised a combined $100 million across two venture rounds backed by <strong>Visa</strong>, <strong>Development Partners International</strong>, <strong>LeapFrog Investments</strong>, <strong>Google for Startups Black Founders Fund</strong>, and <strong>Verod Capital</strong>. With over 4,500 employees, the company falls within the “institutional scale” category, precisely where institutional investors tend to feel safer.</p>
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1. Chief Diana Chen (LagRide) $100m
. She is a graduate of Peking University HSBC Business School, founded Choice International Group over 23 years ago, and has spent more than 11 years operating in Nigeria, playing a central role in China–Nigeria commercial relations.</p>
<p>In December 2025, Lagride secured a $100 million strategic investment from <strong>United Bank for Africa</strong>. The scale of that cheque, and the “strategic” label, suggests a partnership approach.</p>
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