Failed 2022

    Dash

    Ghanaian-founded, Nigeria-active payments startup Dash raised US$33M in seed (largest ever in Africa at the time) then was wound down by investors after $25M+ went unaccounted.

    Founded → Closed

    2019 → 2022

    Funding Raised

    $33M

    Industry

    Fintech/Payments

    Country

    Nigeria

    Full Analysis

    Ghana-based Dash was launched by Prince Boakye Boampong and raised a record US$32.8M seed in 2022 from Insight Partners. Within months, the board removed the CEO citing serious financial irregularities and missing funds — reportedly over US$25M. Operations were wound down in 2023. The Dash collapse remains the largest African seed failure on record and a defining African startup governance scandal.

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