Seven innovators get N145m in Wema Bank Hackaholics 5.0

Seven outstanding innovators have received N145 million cash prize at the grand finale of the Wema Bank Hackaholics 5.0 grand finale.

They emerged from the initial 3,500 applicants that entered for the competition across the country.

The Hackaholics initiative is an ideathon designed to empower and support the nation’s brightest tech innovators.

The 5.0 grand finale, which took place recently in Lagos, witnessed a remarkable showcase of ingenuity and problem-solving prowess, culminating in seven startups sharing an impressive N145 million in prize money—nearly double the initial prize fund of N75 million.

Feegor, the overall winner, was awarded the top prize of N50 million for its innovative B2B wholesale marketplace and SaaS platform. Feegor empowers SMEs to discover, negotiate, and source goods from verified suppliers while accessing credit through a Buy Now Pay Later (BNPL) model. This groundbreaking approach is set to drive growth and create significant economic impact.

The first runner-up, Empayment AI, received N35 million for its AI-powered invoice discounting platform, revolutionising how businesses manage payments. Bloom Beauty, the second runner-up, was awarded N20 million for its personalised, AI-curated solutions that are transforming the beauty industry.

In the women-led category, MyTherapist secured the position of first runner-up, earning N12 million. MyTherapist connects users with mental health professionals, providing accessible and affordable therapy solutions for emotional well-being.

MyItura, an innovator delivering remote healthcare services, clinched the position of second runner-up in the women-led category, receiving N8 million.

Both Northino and University X earned 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.

Moruf Oseni, managing director/CEO, Wema Bank, who shared his vision for the initiative, 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.”

Ugonna Ginigeme, CEO of Feegor and the overall winner, lauded the bank’s steady support for the innovators.