Wema Bank awards N145 million to Seven Outstanding Innovators At The Hackaholics 5.0 Grand Finale
Wema Bank has concluded the fifth edition of its Hackaholics initiative, awarding N145m to seven start-ups that showcased innovative solutions to real-world challenges.
The grand finale, held in Lagos, had 3,500 applications from across Nigeria, with 10 finalists presenting their ideas.
The overall winner, Feegor, received N50m for its innovative B2B wholesale marketplace and SaaS platform.
Other winners included Empayment AI, which received N35m for its AI-powered invoice discounting platform, and Bloom Beauty, which received N20m for its personalised, AI-curated beauty solutions.
The women-led category saw MyTherapist secure the first runner-up position, earning N12m, while MyItura received N8m as the second runner-up.
Also, MyItura, an innovator delivering remote healthcare services, clinched the position of second runner-up in the women-led category, receiving N8m.
Both Northino and University X earned honorable mentions at the grand finale, each receiving N10 million.
Northino was recognised for bridging traditional knowledge and modern technology through digital skills training for African native speakers, while University X impressed with its transparent, all-encompassing platform for tertiary education management.
Wema Bank’s CEO, Moruf Oseni, expressed his delight at the brilliance of the youth showcased at the event, stating that the bank is committed to empowering lives and driving transformation.
He said: “We are delighted to celebrate the brilliance of our youth through the Hackaholics initiative. At Wema Bank, we are more than a bank; we are enablers of dreams and drivers of transformation. When I stood here earlier, the total prize money was N75 million. But, inspired by the potential we saw, we decided to increase the total prize pool to N145 million.
“Wema Bank’s legacy of 79 years remains rooted in innovation, and with initiatives like Hackaholics, we continue to empower lives and shape the future.”
On his part, CEO of Feegor and the overall winner, Ugonna Ginigeme, expressed gratitude for the recognition and support.
“I feel very grateful to God, my team, and everyone who has been part of this journey. Winning among so many great startups and entrepreneurs is humbling. I sincerely thank the MD, Wema Bank, and its management for this incredible opportunity. These are still early days, but we are determined to keep working, building, and creating a positive impact for SMEs and the Nigerian economy while building an all-around successful company.”
The Hackaholics initiative is part of Wema Bank’s legacy of innovation, aimed at fostering a generation of problem-solvers poised to reshape Nigeria’s future.
