Nigerian Startup, Social Lender Wins First IE Venture Day in Africa

Last month, IE held its first African Venture Day in Lagos, Nigeria. Focusing on growth and scalability in business, the event showcased startups dedicated to providing innovative digital based solutions to everyday problems faced by African businesses.

The Venture Day was opened by the Consul General of Spain in Nigeria, Mr. Juan Antonio Moreda Otero. “IE, Nigeria and Spain are three clear dots joined by three lines which are entrepreneurship, knowledge and commitment”. The keynote speech was delivered by Dr. Amy Jadesimi, MD, Lagos Deep Offshore Logistics Base (LADOL).

This was followed by a panel discussion on Business in Tech and Sustainability featuring Managing Director of BPL Nigeria Limited and IE Alumni, Ajibade Oluwabiyi and Adedeji Oduntan – Co-founder of Gokada and an IE Alumni as well. Other members of the panel included founder of Flying Doctors Nigeria Limited, Dr Ola Brown; Senior Venture Analyst at Climate and Innovation Center, Adamu Garba; and Associate Director of Portfolio for Acumen (West Africa) Oluwatoyin Emmanuel. The panel was moderated by IE Alumni and CEO, Concept to Market, Funmi Odusola.

The pitching competition featured five startups who pitched their innovative solutions to a jury made up of tech and finance leaders including Founder of TrainQuarters Stephanie Obi, Social Impact and ESG Manager at Alithea Capital, Temilade Denton; Programme Head, Accion Venture Lab Ekene Agu and Deputy Managing Director of Afrinvest; Victor Ndukauba, who is also IE alumni.

Social Lender, a Nigerian startup granting loans to low-income earners who cannot afford collateral was crowned winner! In addition to a cash prize, Social Lender also won a trip to Spain to participate in a week long startup bootcamp and South Summit start-up conference and $15,000 from Amazon Web Services.