In a dazzling showcase of ingenuity, Feegor, a groundbreaking B2B e-commerce company, emerged as the grand prize winner of Wema Bank’s Hackaholics 5.0. Held recently in Lagos, the event celebrated the brilliance of Nigeria’s tech ecosystem. Feegor walked away with an impressive N50 million, cementing its place as a leader in driving transformative innovation.
Hackaholics: A Platform for Nigeria’s Brightest Minds
Hackaholics has evolved into a premier platform for discovering and nurturing Nigeria’s tech talent. This year, the competition received an overwhelming 3,500 applications from across the country. From this large pool, 10 exceptional finalists were selected to pitch innovative solutions addressing challenges in education, healthcare, and agriculture.
Moruf Oseni, Managing Director and CEO of Wema Bank, highlighted the significance of the initiative. “At Wema Bank, we are more than just a financial institution; we are enablers of dreams and drivers of transformation. Hackaholics is our way of empowering innovators to shape a better tomorrow,” he remarked.
Record-Breaking Prize Pool
This year’s edition raised the stakes with a prize pool of N145 million, nearly doubling the previous amount. The increase reflected the extraordinary quality of ideas presented by the finalists, further affirming Wema Bank’s commitment to fostering innovation.
Feegor’s Winning Solution
Feegor’s victory was powered by its innovative B2B wholesale marketplace and SaaS platform. The platform connects small and medium-sized enterprises (SMEs) with verified suppliers, offering features such as negotiation tools, sourcing assistance, and a Buy Now Pay Later (BNPL) credit model. This solution is designed to empower SMEs, enabling them to scale and contribute to economic growth.
In his acceptance speech, Ugonna Ginigeme, CEO of Feegor, expressed gratitude. “This is a humbling moment for my team and me. Winning among so many exceptional startups strengthens our resolve to create meaningful impact for SMEs and the Nigerian economy,” he said.
Recognizing Other Trailblazers
While Feegor claimed the top prize, other startups also made significant impacts:
- Empayment AI: Secured the first runner-up prize of N35 million for its AI-driven invoice discounting platform.
- Bloom Beauty: Earned N20 million as the second runner-up for its personalized AI beauty solutions.
- Women-Led Innovations:
- MyTherapist, a mental health platform, received N12 million.
- MyItura, a remote healthcare provider, won N8 million.
- Special Recognition:
- Northino and University X each received N10 million for their contributions to digital skills training and education management systems, respectively.
Driving a Better Tomorrow
Hackaholics 5.0 reaffirmed Wema Bank’s role as a catalyst for innovation and economic growth. The event not only rewarded creativity but also underscored the immense potential of Nigeria’s tech ecosystem in solving real-world problems.
