How to Find the Right Investors for Your Startup Business in the UK and Nigeria

By Iyabo Bello, Founder of Mercy Elroi.

Finding the right investor is not just about money. It’s about finding someone who believes in your vision, understands your market, and is willing to grow with you.

When I was building one of my first businesses, I made the mistake of thinking that any investor with a cheque was the right one. I was wrong. That partnership cost me time, energy, and nearly the business itself. So today, I want to share what I’ve learned. Not from books or theories, but from real life experience working with investors in both Nigeria and the UK.

If you’re preparing to raise capital or just starting to explore your funding options, this is for you.

1. Start With Clarity

Before you even begin looking for investors, ask yourself a few honest questions.

What exactly do I need the funds for?
How much control am I willing to give up?
Do I want a silent investor or someone hands-on?

Knowing these things early helps you avoid wasting time with people who don’t align with your goals. Some investors want fast returns, others are patient and value long-term growth. You need to be clear on what you want before sitting at the table.

2. Look Beyond the Money

Good investors bring more than just capital. They bring networks, knowledge, credibility and experience. If you’re in Nigeria, you want an investor who understands the local challenges. Think infrastructure, unstable policies, or unpredictable shifts in the economy.

In the UK, investors often look for startups with clear governance and scalable systems. But just like in Nigeria, the best investors are those who open doors and stay with you for the long haul.

When you meet with potential investors, ask them what other businesses they’ve backed. Ask how they support founders and request to speak to a couple of them. You’ll learn more in one honest conversation than in a fancy pitch.

3. Tap Into Founder Networks

Some of the best investor connections happen at small events, webinars, or over coffee chats. Not always in formal boardrooms.

In Nigeria, join platforms like Founders Connect, Lagos Innovates, or tech hubs like Co-Creation Hub. In the UK, you can explore places like Seedcamp, Tech Nation, or early-stage venture meetups.

Make sure your LinkedIn is active and aligned with your story. Share your wins, speak from your journey, and connect genuinely. You don’t need to sell all the time. Just show up with value. The right people are watching.

4. Tell Your Story Not Just Your Numbers

Investors want to know your numbers, yes. But numbers alone don’t move hearts. Your story does.

Talk about why you started this business. Who you’re helping. What makes your idea different. And where you’re headed.

I once worked with a founder whose business was helping small food vendors in Lagos move online. Her growth metrics were still early, but when she told her story, it moved the room. One investor came forward not because of perfect stats but because of clear purpose and genuine passion.

5. Be Patient. The Right Investor Is Worth The Wait

It’s tempting to take the first offer when funds are low and stress is high. But a wrong-fit investor can slow your business down and drain your peace.

Take your time. Do your research. Ask around. If something doesn’t feel right during the first meeting, pay attention. Trust your gut and walk away if needed.

Whether in Nigeria or the UK, your reputation matters. So build relationships before you ask for anything. Keep showing up. Share your story. Let people see your consistency.

Final Thoughts

Getting investment is not the destination. It’s a door. And you want the right people walking through it with you.

At Mercy Elroi, we help founders get clear on their vision, build strong foundations, and prepare for big opportunities like funding. If you want support with that next step, download our Visionary Digital Planner or book a clarity session with me on mercyelroi.com.

Let’s get your business ready for the future.

Visit www.mercyelroi.com to get started.