Venture capital funding has declined significantly across the world in 2023, and though there were initial hopes that the nascency of the African tech ecosystem might mean it avoided too much damage, the growing size of the continent’s “startup graveyard” suggests that is not the case.
Pivo, a Nigerian supply chain fintech, has shut down. The Y Combinator-backed startup has ceased operations a year after securing a $2 million seed round.
Pivo, the Nigerian fintech that offered banking services to small supply chain businesses, is shutting down one year after raising a $2 million seed round.