There is no doubt that Nigeria is a very tough place when it comes to doing business or founding a startup. However, despite the challenges faced by startups in Nigeria, more and more of these are springing up trying to meet the needs of Nigerian and the world as a whole. Some of these startups have been blossoming over the years.
This article reviews some of these startups in Nigeria to watch out for in 2021.
SumoTrust is a platform that automates the process of saving and investing for its users. It is designed to help you manage your finances better by regularly saving up for you and giving you an interest of 10-15% on your investments annually. This platform was created to encourage Nigerians to save and invest more. It is targeted mostly at the younger to medium age group. You can start saving on this platform with as low as 100 Naira and enjoy all the benefits it comes with.
Here are some of the features of the SumoTrust Platform
- Hedge Fund investment of up to 24% per annum
- Account Security
- User-Friendly interface
- Group Saving
- NUBAN Account
- Money Transfer
5 Key Reasons Why You Should Enroll on Sumotrust Today
SumoTrust is a great platform for those who are looking for save or invest some money. Below are some of the benefits of choosing SumoTrust as your savings platform.
- Secure Hedge Fund Investment: Sumotrust is the only savings platform offering hedge fund investment for users with medium to a large amount of money looking for security on their investment. With a minimum of N500,000 to as much as N100 million, the SHIFDA fund allows users to earn up to 24% secure returns on their investment per annum.
- No Hidden Charges – Many people save their money in commercial banks and end up getting charged for things like maintenance fee, SMS alerts, etc. You do not have to worry about these charges on SumoTrust. They do not charge you for SMS fees nor withdrawal fees. SumoTrust is totally free.
- Great Security – SumoTrust boasts of a highly secured platform even in a case of a hack, your bank details and money would still be secured. They use the highest level of security to keep the funds of their subscribers safe. A 256 bits SSL security encryption is used to secure the platform and it also uses a powerful block chain security protocol to make sure its users account is absolutely safe.
- High Interest Rate – You stand a chance to earn interest as high as 10 – 15% on your investment annually (0.83% monthly and 0.028 daily) on this platform. Nigerian banks do not give an interest rate as high as this, and even if they do, they end up sucking it all up with their maintenance and SMS alert fees
- Creates an Avenue to Learn and Connect – Another incredible benefit of this platform is their provision for people to connect and collaborate. You will have access to Nigeria’s online business academy (Motute) owing to the fact that SumoTrust has a partnership with these entrepreneur platforms.
To start saving on SumoTrust visit sumotrust.com to sign up.
2. Bundle Africa
Bundle Africa is a startup in Nigeria which amongst other things has an application through which people can send and receive cryptocurrencies (digital currencies like Bitcoin, Ethereum, Litecoin, etc.) and fiat currency (regular money) to people free of charge. With the Bundle app, you can send money to anyone on your contact list, you can even request money from them. This is possible as long as they also have this bundle App installed on their mobile device(s).
Basically, the Bundle app gives one the opportunity of buying, selling and depositing cryptocurrencies and also allows one to securely store cryptocurrencies in his/her Bundle wallet.
The Bundle app provided by Bundle Africa is a fun app to use that makes money transactions easier. You do not have to worry about unnecessary bank charges as bundle app does all transactions for FREE.
Here Are Some of The fundamental Things that You Can Do with Bundle Africa App:
Send and Receive cash or crypto instantly
Bundle makes it very easy to send and receive cash or crypto for free. You do not have to carry cash around in your wallet with the bundle app at hand. All you just need is a few taps and you have paid for a meal or refunded your friend of some money you owe him.
Send cash or crypto to your contacts not on Bundle
Maybe you need to send money to someone and they are not on bundle yet, you do not have to worry. You can send them cash or crypto through their phone number for FREE. All they need to do is to download the Bundle app to receive it.
Buy and sell crypto
Bundle app includes a feature that allows you to buy and sell cryptocurrencies right there on the application. You can sell cryptocurrency such as Bitcoin, Ethereum, BNB and others. After making sure you have Naira in your bundle account (You can fund your wallet with the “ADD CASH” feature), you can then buy any crypto that is featured on the bundle APP. You can as well sell your cryptocurrencies and get Naira withdrawn directly into your bank account.
Withdraw and deposit crypto
You can also transfer cryptocurrency from your Bundle wallet to another wallet. Just click on the withdraw button to proceed. You can also store your cryptocurrency in the Bundle app smart wallet by depositing into it for free.
N/B: Bundle is not a cryptocurrency exchange. They are just there to bridge the gap between individuals and cryptocurrency exchanges, this way making it easier for you to buy, sell and store cryptocurrencies.
Led by Chris Ani, DABA is a platform that enables individuals and organizations to gain the relevant strategies and in-demand global skills needed for scaling, wealth creation, and financial freedom. The startup aim at equipping 1 billion people with high income and digital skills to better compete in the global market. They are interested in helping people and businesses to grow their capacities, start/grow their businesses, and gain financial freedom.
With the online courses offered on DABA, you would be equipped with the necessary real time skills that would help you make cool cash from the comfort of your home. These courses are taught by real-time experts, practitioners, and business leaders who have adequate knowledge, expertise, and experiences with the digital skills that they teach and have also gained financial freedom themselves with these skills.
DABA does not operate on monthly fees; you only pay once and upon successful payment, you would be granted the eternal access to learn the skills you paid for on the platform.
There is no need for any kind of degree or qualification before you can enroll on the website. Anyone, just anyone with any skill level can enroll on DABA and begin his/her journey to digital skills acquisition/expertise within a short time frame.
4. LifeBank Nigeria
Founded in 2015 by Temie Giwa-Tubosun, LifeBank (formerly One Percent Project) is a startup that aims to tackle the problem of blood shortage in Nigeria and across Africa. They deliver critical medical supplies needed by patients in a faster, cheaper, and safer way.
This SME’s innovative ideas have saved over 10,000 lives by ensuring blood donations are delivered to the hospitals in need of them. They impact vulnerable communities located in urban, peri-urban, and rural areas in Africa by delivering to the very last mile.
The start-up has within the short time of its existence won several awards including Cartier 2020 Women’s Initiative, Sub-Saharan Africa Laureate, African Netpreneur Prize Initiative Award by Jack Ma and others. Besides assisting with blood-donation services, LifeBank also delivers other medical products such as oxygen, blood products, and vaccines.
5. Kuda Bank
Kuda Bank is a full-fledged digital-only bank which is operating with a banking license. Kuda is designed for your smartphone, free of the ridiculous charges that regular bank charges, and it is also great at helping you to budget, spend smartly, and to save more.
some of the features include no ATM card maintenance fees, no Charges for cash withdrawals, and no transfer fees to Other Nigerian banks”
Founded in 2018 by Emem Essien, Michael Ogundare, and Seyi Paul, Crop2Cash is a startup with the aim of digitizing the supply chain of agro-processors. It also aims to provide farmers with access to financial services to increase their agricultural production.
It makes sure the supplied agricultural products get to the farmers at the best qualities. Farmers in rural areas are also enabled to receive digital payments thereby building their financial identity.
Leveraging the power of Artificial Intelligence, Judy Innovative Technologies solves the challenges faced by researchers in the African legal space. It was founded in 2018 by Sadiq Okocha and Bright Oleka.
Judy gives its users access to over 20,000 cases, rules of court, and statues. They provide lawyers with a comprehensive database of common law case Judgments, thereby making it easier for them to make research and provide quicker judgments. Judy got seed funding, a sum of $100,000 from Switzerland-based Meltwater Foundation in 2019.
With CredPal, lending and borrowing has never been easier. It is a Fintech startup founded by Olorunfemi Jegede and Fehintola Olaogun in 2017. CredPal provides funds for consumers by bringing them in contact with willing lenders to finance their purchases while they pay back in fixed monthly installments.
Providing their users with ATM cards which functions as a credit card. These cards enable the user to access credit for purchases made. The user is required to input their bank details on the app, this is where the decision to pay a lump sum or pay by installments is made.
Publiseer was founded in 2017 by twin brothers Chidi Nwaogu and Chika Nwaogu. Having both struggled to get their book and song out to the public, they birthed the idea if helping independent artists and authors meet their publishing needs across Africa. They promote the creativity of Nigerians by offering free publishing, designing and technology, to artists and authors.
First you would have to get approved on the platform which does not take much to accomplish. After getting accepted, the platform takes care of the media and publishing work for the author and artist.
The team works overtime just to provide artists and authors with good publicity. Authors get access to professional book covers, ISBNs and worldwide book distribution. While artists have their songs distributed across online stores and also get free professional cover art.
This crowdfunded platform was founded in 2019. CrowdyVest enables individuals to participate in multiple investment options by giving them the opportunity of selecting the kind of project they are willing to sponsor.
After making a choice, the sponsors procure the funds needed to carry out the project and its operation.
Their focus is various sectors available in communities and cities which seem to be underutilized.
They make use of the sponsor’s funds to engage the projects, secure the land, provide the facilities with improved services, complete the full production and marketing circle.
After this, the profit made is used to pay the sponsor a return on their investment. They also provide regular updates of the project circle to the sponsor through text, pictures and videos.