In a vibrant showcase of innovation and talent, Feegor, an innovative B2B e-commerce company, emerged as the grand prize winner at Wema Bank’s Hackaholics 5.0, taking home an impressive N50 million. The event, held recently in Lagos, spotlighted the ingenuity of Nigeria’s tech ecosystem and marked another milestone in the bank’s commitment to fostering transformative ideas.
Hackaholics has grown into a premier platform for unearthing Nigeria’s brightest tech talents. This year’s edition saw an overwhelming 3,500 applications from across the country, reflecting a rising wave of innovation among young Nigerians. After rigorous rounds of evaluation, 10 finalists were chosen to present groundbreaking solutions addressing challenges in sectors like education, healthcare, and agriculture.
Moruf Oseni, Managing Director and CEO of Wema Bank, underscored the initiative’s significance during the event. “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 said.
The prize pool for Hackaholics 5.0 was increased to N145 million, nearly doubling the initial sum, in recognition of the high-caliber ideas presented by the finalists.
Feegor’s win was anchored in its innovative B2B wholesale marketplace and SaaS platform, which connects small and medium-sized enterprises (SMEs) with verified suppliers. The platform offers unique features like negotiation tools, sourcing assistance, and a Buy Now Pay Later (BNPL) credit model, empowering SMEs to scale and drive economic growth.
In accepting the award, Ugonna Ginigeme, CEO of Feegor, expressed heartfelt 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.
Hackaholics 5.0 wasn’t just about Feegor; other startups also made a significant impact:
- Empayment AI secured the first runner-up prize of N35 million for its AI-driven invoice discounting platform.
- Bloom Beauty, specializing in AI-personalized beauty solutions, received N20 million as the second runner-up.
In the women-led category, mental health platform MyTherapist and remote healthcare provider MyItura earned N12 million and N8 million, respectively, for their transformative solutions.
Additionally, Northino and University X each received N10 million in recognition of their unique contributions, ranging from digital skills training to comprehensive education management systems.
