Why Five Prominent Nigerian Fintech Startups Shut Down Despite Funding
Between 2023 and 2025, five backed Nigerian fintech startups, including Lazerpay and Pivo Africa, permanently closed their doors. Their rapid rise and fall highlight severe structural challenges in the ecosystem, demonstrating how tightening venture capital, complex regulatory hurdles, and weaker-than-expected market demand continue to threaten the survival of early-stage financial technology companies across the region.
Source: Legit.ng on MSN