Venture Garden Nigeria just raised the sum of $20 million from Convergence Partners to enable the investment holding company accelerate its strategic plans in Nigeria, and across the West African.
According to Bunmi Akinyemiju, Venture Garden Nigeria’s CEO “We believe that the fintech space is a catalyst for technology-driven transformation in Africa and are pleased to have a specialist investor like Convergence Partners on board who shares our vision of technology as a key enabler and driver of economic development, for example in the education sector. ”
“With the support of Convergence Partners, VGN can accelerate the execution of its strategy, and achieve a wider customer reach”, he added.
This investment comes just a few months after Convergence Partners closed a capital of over $200 million and launched an office in Lagos, Nigeria.
The company which was founded in 2011, Venture Garden Nigeria is an investment holding company that incubates, invests in and operates financial technology companies developing technology solutions for institutions in the education, power, aviation, downstream oil and gas, financial services and cyber-security sectors.
In Q2 2018, Nigerian startups raised a total funding of $73.6 million. Download our report to find out more.