Wema Bank’s Hackaholics Grants N37 Million to Four Nigerian Tech Startups

 

During the grand finale of Wema Bank’s Hackaholics 4.0, four Nigerian tech startups secured a total of N37 million in funding to advance their innovative products. IRETI, a health-tech startup focusing on breast cancer management, emerged as the winner and received a N15 million cash prize for the best-pitched business idea.

 

GRIP, a fintech startup, claimed the first runner-up position, earning N10 million, while Trakka secured N7 million as the second runner-up. Additionally, Outsidee was awarded N5 million as part of the Women Led Award, supporting women in tech.

 

The funding received by IRETI will be used to expand its reach and raise awareness about breast cancer among women in both urban and rural communities through partnerships with NGOs.

 

In a parallel effort to promote STEM (Science, Technology, Engineering, and Mathematics) education, Wema Bank also granted endowment funds to three universities: Babcock University (N10 million), Afe Babalola University (N7 million), and Nile University (N5 million).

 

At the Hackaholics 4.0 grand finale, Wema Bank’s MD/CEO, Moruf Oseni, highlighted the bank’s commitment to supporting the Nigerian tech ecosystem, emphasizing the importance of STEM education for sustainable economic development.

 

Tunde Mabawonku, Executive Director of Retail and Digital Business at Wema Bank, emphasized the theme of the event, “Re-imagine: Disrupting the Ecosystem for Scale,” as an embodiment of the bank’s innovation program, fostering collaboration among digital innovators, visionaries, and industry leaders.

 

Olugbenga Agboola, CEO of Flutterwave, delivered a keynote address and praised Wema Bank for its role in supporting fintech innovation in Nigeria.

 

The Hackaholics 4.0 featured ten finalists, including IRETI, GRIP, Trakka, Outsidee, Chao, Raptor, Pup Industries, University-X, Naijabox, and MumAlive, providing valuable opportunities for founders to address local and global challenges through technology solutions.

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