A Nigerian fintech company aimed at helping micro-suppliers manage payments, which has recently shut down due to insufficient user growth.
10 African startups that shut down in 2025
Four startups across Nigeria and East Africa shut down or suspended operations in the first quarter of 2025. Fintech sector experienced the highest number of shutdowns, with eight out of ten closures occurring in Nigeria.
70% of African startups fail in the first 5 years; Clarus believes it’s a go-to-market problem
Joovlin, a Nigerian fintech, shut down after failing to grow its user base sufficiently to sustain operations. Experts estimate that around 70% of African startups fail within their first five years, with funding issues often cited as a primary cause.
4 African startups that shutdown in Q1 2025
African tech startups secured $780 million in funding in the first half of 2024, a 57% decrease from 2023. 54gene, a Nigerian genomics company, and Sendy, a Kenyan logistics startup, shut down due to funding problems.
