African startups risk losing investors by targeting $1 million pre-seed rounds—Sidebrief COO
African startups seeking pre seed funding have been advised to set more realistic fundraising targets and focus on securing their first investor commitments, The post African startups risk losing investors by targeting $1 million pre-seed rounds—Sidebrief COO appeared first on Nairametrics .
Nigerian startup experts advise founders to set more realistic pre-seed fundraising targets, warning that announcing a $1 million goal when only secured $20,000 could hinder investor interest. At GITEX Nigeria 2026 panel discussion, Sidebrief COO Abdulwaheed Yusuf emphasized the importance of aligning targets with attainable commitments before moving to larger rounds.
He argued that securing the initial investment makes subsequent investor conversations easier, as it showcases that another investor has already backed the startup. Nigerian startup funding slowed in 2026, with capital raised falling 27% year-on-year to $1.46 billion in the first seven months. Fintech dominates the sector, with $98.5 million in deals in the first half of 2026, accounting for 53% of total funding.
Despite challenges, Nigerian startups continue to seek investor attention to secure necessary capital.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
