42 investors have funded 8 CFO Stack companies head-officed in Lagos, across 54 rounds (Nov 2016 – Feb 2025). They are ranked by how many Lagos companies in this market they have actually backed.
"In Lagos" describes the companies, not the investor: most of the money in any city comes from somewhere else, and the Where the money comes from section below shows exactly where it came from here.
Ranked by companies backed in this market and city, then by round count. "Led" counts rounds recorded with this investor as lead.
| # | Investor | Based in | Stages here | Companies | Rounds | Led | Latest | Portfolio total |
|---|---|---|---|---|---|---|---|---|
| 1 | Y Combinator | Mountain View, United States | SeedSeries A | 3 | 7 | 5 | Dec 2023 | 5,648 |
| 2 | Soma Capital | San Francisco, United States | Seed | 2 | 2 | 1 | Aug 2022 | 333 |
| 3 | Ventures Platform | Abuja, Nigeria | SeedSeries A | 2 | 2 | 1 | Feb 2025 | 40 |
| 4 | Khosla Ventures | Menlo Park, United States | Series BSeedSeries A | 1 | 3 | 1 | May 2023 | 680 |
| 5 | Partech Partners | Paris, France | Series ASeries B | 1 | 2 | 1 | May 2023 | 351 |
| 6 | Oui Capital | Lagos, Nigeria | Seed | 1 | 2 | 2 | Aug 2022 | 11 |
| 7 | Techstars | New York City, United States | Seed | 1 | 1 | 1 | Dec 2022 | 3,580 |
| 8 | 500 Global | San Francisco, United States | Series A | 1 | 1 | 1 | Nov 2016 | 1,988 |
| 9 | Plug and Play Tech Center | Sunnyvale, United States | Seed | 1 | 1 | — | Aug 2022 | 934 |
| 10 | Global Founders Capital | Berlin, Germany | Seed | 1 | 1 | — | Aug 2022 | 563 |
| 11 | Kima Ventures | Paris, France | Seed | 1 | 1 | — | Dec 2023 | 636 |
| 12 | Alumni Ventures | New York City, United States | Seed | 1 | 1 | 1 | Aug 2022 | 607 |
| 13 | Startup Wise Guys | Tallinn, Estonia | Seed | 1 | 1 | 1 | Nov 2022 | 374 |
| 14 | QED Investors | Alexandria, United States | Series A | 1 | 1 | 1 | Feb 2025 | 216 |
| 15 | Liquid 2 Ventures | San Francisco, United States | Seed | 1 | 1 | 1 | Aug 2022 | 309 |
| 16 | Entree Capital | London, United Kingdom | Seed | 1 | 1 | — | Dec 2023 | 144 |
| 17 | Accion | Washington, DC, United States | Seed | 1 | 1 | 1 | 117 | |
| 18 | Tribe Capital | Menlo Park, United States | Seed | 1 | 1 | 1 | Aug 2022 | 155 |
| 19 | Commerce Ventures | San Francisco, United States | Seed | 1 | 1 | 1 | Aug 2022 | 118 |
| 20 | Base10 Partners | San Francisco, United States | Series B | 1 | 1 | 1 | May 2023 | 116 |
| 21 | Ulu Ventures | Palo Alto, United States | Seed | 1 | 1 | — | Aug 2022 | 100 |
| 22 | Musha Ventures | New York City, United States | Seed | 1 | 1 | 1 | Jun 2018 | 58 |
| 23 | Unpopular Ventures | San Francisco, United States | Seed | 1 | 1 | — | Dec 2023 | 58 |
| 24 | 4DX Ventures | Accra, Ghana | Seed | 1 | 1 | 1 | Apr 2017 | 42 |
| 25 | TLcom | Nairobi, Kenya | Seed | 1 | 1 | 1 | Aug 2022 | 34 |
| 26 | Seedstars | Carouge, Switzerland | Series A | 1 | 1 | — | Feb 2025 | 37 |
| 27 | Nama Ventures | Riyadh, Saudi Arabia | Seed | 1 | 1 | — | Aug 2022 | 25 |
| 28 | P1 Ventures | San Francisco, United States | Series A | 1 | 1 | — | Feb 2025 | 30 |
| 29 | DFS Lab | Seattle, United States | Seed | 1 | 1 | — | Aug 2022 | 30 |
| 30 | Helios | London, United Kingdom | Series B | 1 | 1 | — | May 2023 | 29 |
| 31 | MyAsiaVc | Singapore, Singapore | Seed | 1 | 1 | — | Feb 2022 | 30 |
| 32 | LoftyInc Capital Management | Ikeja, Nigeria | Seed | 1 | 1 | 1 | Dec 2021 | 28 |
| 33 | Shopify | Ottawa, Canada | Series B | 1 | 1 | — | May 2023 | 23 |
| 34 | The Baobab Network | Nairobi, Kenya | Seed | 1 | 1 | 1 | Oct 2023 | 25 |
| 35 | Voltron Capital | Lagos, Nigeria | Seed | 1 | 1 | — | Dec 2023 | 24 |
| 36 | Golden Palm Investments | Ghana | Seed | 1 | 1 | — | Aug 2022 | 20 |
| 37 | Norrsken22 | Stockholm, Sweden | Series A | 1 | 1 | — | Feb 2025 | 13 |
| 38 | BFA | Nairobi, Kenya | Seed | 1 | 1 | 1 | 10 | |
| 39 | Kairos Angels | Seed | 1 | 1 | 1 | Dec 2021 | 6 | |
| 40 | Mastercard Foundation | Toronto, Canada | Seed | 1 | 1 | 1 | 5 | |
| 41 | Paradox Capital | San Francisco, United States | Seed | 1 | 1 | 1 | Dec 2021 | 3 |
| 42 | Berrywood Capital | Nigeria | Seed | 1 | 1 | — | Dec 2021 | 2 |
Head office of the investors on this page.
Rounds by stage — where in a company's life this money arrives.
Total disclosed size of each round, not one investor's share.
How active this market has been.
CFO Stack companies head-officed in Lagos that took money from these investors.
| Company | Backers | Rounds | Disclosed | Latest round |
|---|---|---|---|---|
| Nomba nomba.com |
9 | 14 | $174.6M | Series B May 2023 |
| Duplo tryduplo.com |
9 | 11 | $38.3M | Seed Aug 2022 |
| Pastel pastel.africa |
7 | 7 | $38.5M | Seed Aug 2022 |
| Flex Finance flexfinance.ai |
7 | 7 | $600K | Seed Dec 2021 |
| Raenest raenest.com |
6 | 6 | $55M | Series A Feb 2025 |
| Bujeti bujeti.com |
5 | 6 | $10.1M | Seed Dec 2023 |
| Bunce bunce.so |
2 | 2 | $100K | Seed Oct 2023 |
| TalentBase talentbase.ng |
1 | 1 | — | Series A Nov 2016 |
| Date | Investor | Company | Stage | Round size |
|---|---|---|---|---|
| Feb 2025 | Ventures Platform | Raenest | Series A | $11M |
| Feb 2025 | QED InvestorsLED | Raenest | Series A | $11M |
| Feb 2025 | Seedstars | Raenest | Series A | $11M |
| Feb 2025 | P1 Ventures | Raenest | Series A | $11M |
| Feb 2025 | Norrsken22 | Raenest | Series A | $11M |
| Dec 2023 | Y CombinatorLED | Bujeti | Seed | $2M |
| Dec 2023 | Kima Ventures | Bujeti | Seed | $2M |
| Dec 2023 | Entree Capital | Bujeti | Seed | $2M |
| Dec 2023 | Unpopular Ventures | Bujeti | Seed | $2M |
| Dec 2023 | Voltron Capital | Bujeti | Seed | $2M |
| Oct 2023 | The Baobab NetworkLED | Bunce | Seed | $100K |
| May 2023 | Base10 PartnersLED | Nomba | Series B | $30M |
| May 2023 | Shopify | Nomba | Series B | $30M |
| May 2023 | Khosla Ventures | Nomba | Series B | $30M |
| May 2023 | Helios | Nomba | Series B | $30M |
| May 2023 | Partech Partners | Nomba | Series B | $30M |
| Jan 2023 | Y CombinatorLED | Bujeti | Seed | $125K |
| Dec 2022 | TechstarsLED | Raenest | Seed | $20K |
| Nov 2022 | Startup Wise GuysLED | Bunce | Seed | — |
| Aug 2022 | Liquid 2 VenturesLED | Duplo | Seed | $4.3M |
CFO Stack investors in other cities
Other markets in Lagos