Wema Bank has reinforced its commitment to Nigeria’s startup ecosystem by channeling about $400,000 in funding through its Hackaholics innovation programme, as 10 emerging startups begin participation in the 2026 Hackaholics Accelerator.
The funding represents cumulative grants disbursed by the bank to startups across multiple editions of Hackaholics since the initiative was launched in 2019. At current exchange rates, the total support translates to roughly N560 million, underscoring sustained financial backing for early-stage, technology-driven businesses.
Brandspur Banking News Desk reports that the 2026 accelerator cohort was drawn from top finalists of Hackaholics 6.0 following a competitive selection process that assessed innovation quality, market readiness and growth potential. The accelerator is structured to help founders transition from early traction to building sustainable and scalable enterprises.
Since inception, Hackaholics has attracted over 15,000 applications from entrepreneurs across Nigeria, supporting hundreds of digital solutions spanning fintech, health, education, logistics and agribusiness. Several startups from earlier cohorts, including Feegor, Myitura and Bunce, have gained increased market visibility and operational momentum after participating in the programme.
The startups selected for the 2026 accelerator are Farmslate, Ploy, Stocmed, Feest (Chao), Varsityscape, MamaAlert, Sane, Cyclex, Kieva and Loocomo. Organisers said all selected companies already have products in the market, early customer traction and clear growth trajectories.
Speaking on the evolution of Hackaholics, Moruf Oseni, Managing Director and Chief Executive Officer of Wema Bank, said the initiative has grown beyond a competition into a national innovation platform with a focus on long-term value creation. He noted that the bank is increasingly committed to supporting founders through the more demanding stages of business building.
Oseni explained that the accelerator reflects Wema Bank’s strategy of providing hands-on support, mentorship and access to networks that can help transform innovative ideas into commercially viable businesses addressing real market needs.
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Also commenting, Babatunde Mumuni, Chief Transformation Officer at Wema Bank, said the accelerator offers a structured development process designed to strengthen startup foundations. According to him, the programme combines mentorship, strategic guidance and ecosystem access to prepare founders for expansion and future investment.
During the accelerator, all 10 founders will undergo intensive training sessions led by Wema Bank executives and external ecosystem leaders, including startup advisors, innovation hub executives and representatives from global startup support organisations.
The programme is supported by IDEAx Labs, Wema Bank’s innovation and venture platform, which provides startups with access to infrastructure, partnerships and capital-enabling opportunities.
With the 2026 edition underway, Hackaholics is expected to further boost Nigeria’s startup pipeline by helping young companies move decisively from innovation to sustainable growth, strengthening the country’s rapidly expanding digital economy.
