Day 1-1000: How GetEquity found profit in the venture drought
- GetEquity launched in 2021 and quickly filled a $50,000 startup round in under an hour.
- The company faced a significant downturn in 2023 due to naira devaluation and a freeze in venture capital.
- In 2024, GetEquity successfully tested commercial papers, achieving nearly ₦300 million in investments.
GetEquity's journey illustrates the volatility of the fintech landscape in Nigeria, where external economic factors can drastically reshape business models. Their ability to pivot and adapt to changing market conditions is commendable, but it raises questions about the sustainability of such rapid growth in a challenging environment. Further discussion could explore how fintechs can better prepare for economic downturns and build resilience.
