Nigeria’s fintech company, TeamApt, is evolving as a unicorn, valued at least $1 billion. People, this is indeed a cambrian moment of entrepreneurial capitalism in Nigeria. TeamApt is a fintech company which focuses on developing digital banking, business solutions and payments infrastructure.
Nigerian tech startup TeamApt Ltd. is in the market raising its third round of funding at a value of more than a $1 billion, which will result in the fintech firm joining a spate of Africa-tech companies to become so-called unicorns.
In Tekedia Capital, we see some of our portfolio companies to join this club by 2023; one in the current active cycle has a huge chance. Technology is the accelerant that will advance all industrial sectors because every business is increasingly a technology business.
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People, Africa* now has six unicorns as I write, assuming that TeamApt closes the deal: Interswitch, Andela, Flutterwave, OPay, Wave and TeamApt.
I expect this number to hit 15 by the end of 2023 (India has minted 28 so far in 2021). Andela is another non-fintech in that list after Jumia, an ecommerce, until it exited the private club. MENA’s Careem which Uber acquired was also in that club.
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