Nigerian startups raised $113.7 million in disclosed funding during June 2026, according to data compiled by Technext. The figure excludes undisclosed rounds, meaning the actual total could be higher. Flutterwave's Series E round, though officially undisclosed, is reported by insiders to be worth approximately $100 million. The investment came from Ripple as a strategic deal, integrating Ripple's U.S. dollar-pegged stablecoin RLUSD and the XRP Ledger into Flutterwave's payment infrastructure. This positions Flutterwave as one of the first African fintechs to deeply embed a global digital asset network into its core operations. The company, founded by GB Agboola, now holds a valuation of $3.2 billion.
Other notable funding events in the month included AethexAI, an enterprise AI startup founded by Mariama Diallo and Ayooluwa Odemuyiwa, which raised $3 million in a pre-seed round. The funding was led by 4DX Ventures, with participation from Enza Capital, Dorm Room Fund, Mojo Ventures, and Stanford GSB 26 Fund. Investors also included Stanford faculty, telecom executives, and AI researchers from Anthropic. AethexAI is developing voice AI systems tailored for customer service, debt collection, customer activation, and KYC processes in Africa and the Middle East. The startup is also releasing APIs, SDKs, and a testing platform for enterprise clients.
Stabyl, a Nigerian fintech focused on foreign exchange infrastructure, launched with a $2.7 million pre-seed round led by Konga. The company was founded by Prince Nnamdi Ekeh, former Co-CEO of Konga Group, alongside Zachary Schwartzman and Michael Anyi. Stabyl aims to streamline liquidity access and accelerate settlement across African markets. The startup raised additional support from Hivemind Capital, Lattice, Alliance, Globelink, and Aptos Foundation. In the climate and clean energy sector, Agriarche raised $1.8 million, Koolboks secured $1.5 million, and Powerstove received $1.3 million, all through catalytic funding from the Cascador Awards. Myka, an insurtech founded in 2025 by Sim Shagaya, Muritala Ahmed, and Oluwadamilola Okenla, raised an undisclosed pre-seed amount backed by Ventures Platform, TLcom, and founders including Shola Akinlade and Ridwan Olalere.
Flutterwave's $100 million deal with Ripple is framed as a milestone, yet the round remains officially undisclosed, leaving key details to insider speculation. The integration of RLUSD and XRP Ledger into Flutterwave's system gives it a technical edge, but also ties a major African fintech closer to a volatile digital asset ecosystem. Nigerian startups are attracting capital across fintech, AI, and climate tech, but heavy reliance on undisclosed rounds obscures the true scale of growth. This pattern makes public assessment of sector health dependent on leaks rather than transparency.
Editorial note: AI-assisted opinion, not established fact. Full disclaimer →
