Wema Bank recently concluded the fifth edition of its Hackaholics initiative, awarding a total of N145 million in cash prizes to seven innovative startups. This year, the initiative saw a remarkable 3,500 applications from across Nigeria, showcasing a variety of solutions aimed at addressing significant challenges in sectors like education, healthcare, and agriculture. The grand finale, held in Lagos, celebrated the most promising startups, with Feegor, a B2B marketplace platform, emerging as the overall winner, receiving N50 million. Feegor’s platform empowers SMEs to source goods from verified suppliers while offering credit through a Buy Now, Pay Later (BNPL) model .
In addition to Feegor, other winners included Empayment AI, which earned N35 million for its AI-powered invoice discounting platform, and Bloom Beauty, awarded N20 million for its AI-driven solutions in the beauty industry. MyTherapist, a mental health platform, claimed the first runner-up position in the women-led category with a N12 million prize. MyItura, which provides remote healthcare services, received N8 million as the second runner-up in the same category .
Honorable mentions went to Northino, which bridges traditional knowledge with modern technology through digital skills training, and University X, which impressed with its comprehensive platform for tertiary education management. Each received N10 million .
Wema Bank’s CEO, Moruf Oseni, highlighted the importance of these innovations in shaping Nigeria’s future, emphasizing the bank’s long-standing commitment to fostering technological advancement. The prize fund for Hackaholics 5.0 was nearly doubled from the previous year, underscoring the bank’s belief in the potential of Nigeria’s youth and their role in driving economic growth .
Ugonna Ginigeme, CEO of Feegor, expressed his gratitude for the recognition and pledged to continue building solutions that positively impact SMEs and the Nigerian economy. With the success of Hackaholics 5.0, Wema Bank reaffirms its position as a key enabler of innovation in the Nigerian tech ecosystem .
