Quick Summary:
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Nestuge has paid over ₦500 million to creators in just two years without external funding.
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The platform helps creators monetise their audiences through tools that integrate with WhatsApp, Telegram, Zoom, and more.
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Growth has been organic, driven by community-led marketing and product feedback.
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Nestuge now serves over 7,000 creators and is eyeing strategic fundraising to scale.
While many Nigerians seek opportunities abroad — popularly known as japa — Nelson Eze, Co-founder and CEO of Nestuge, made a bold decision to return home and build a startup.
The idea for Nestuge emerged in 2021 when Eze tried to pay for an online course. The process was tedious: transferring funds, sending proof of payment, and even screenshotting WhatsApp statuses to find account details.
Frustrated but inspired, he teamed up with Ruth Okoli and Jude Enete to launch Nestuge, a monetisation tool for digital creators, coaches, and experts.
Solving Monetisation Gaps in Nigeria
Eze observed that while social media platforms helped build audiences, they lacked monetisation features tailored to the Nigerian ecosystem.
Rather than replace these platforms, Nestuge integrates with them — enabling creators to earn from their communities by offering paid products, memberships, and services.
How Nestuge Works
To start, creators sign up on the platform and complete KYC verification. Once approved, they can build and sell “nests” — courses, masterclasses, consulting offers, or access to premium WhatsApp/Telegram groups.
Nestuge also connects with tools like Zoom, Telegram, and Google Meet. It automates email follow-ups, membership access, and more — offering a tailored user experience.
These features were added based on user feedback. What began as a membership platform expanded into a full-fledged monetisation suite.
Although conceived in 2021, development didn’t begin until 2022, after Eze returned to Nigeria. Nestuge officially launched in 2023 and now boasts over 7,000 active creators.
With just five people on the team (three co-founders and two employees), growth didn’t come easy. The team endured a slow start, multiple product iterations, and a failed attempt to introduce in-app purchases — which led to high revenue losses due to Apple’s 30% fees.
Eventually, they pivoted fully to the web and focused on building tools around the platforms creators already use.
Marketing with No Budget
Without external funding, Nestuge relied on grassroots marketing. Eze personally onboarded hundreds of creators via cold DMs and direct conversations.
This high-touch approach not only built trust but also delivered critical insights to shape the product.
As creators began seeing results, word-of-mouth referrals drove growth. Nestuge expanded organically, especially in tight-knit creator communities.
When Marketing Went Too Far
An attempt to scale faster through an affiliate program led to 30,000+ signups, but many didn’t align with their ideal customer base.
“We weren’t targeting just content creators — we wanted experts with something valuable to offer,” Eze explained.
It was the serious, value-driven creators who stayed — helping refine and grow the platform.
Handling Growth with a Lean Team
The rapid increase in user base brought new challenges. By mid-2024, customer service demands surged.
“Being responsive became a badge of honour,” said Eze, “but it stretched our small team to the limit.”
Still, Nestuge managed to keep operational costs low, with co-founders still juggling day jobs to keep the business running.
Fundraising Plans and Vision
Nestuge has yet to raise institutional capital but is open to the idea — if it aligns with their vision.
“We want to raise enough to attract top talent — not so much that it makes us complacent,” Eze noted.
The team remains focused on delivering value and building a long-lasting, user-centric business.
Business Model: Lean and Aligned
Nestuge earns revenue in two ways:
- Transaction Fees: 3.9% on local payments and 7.5% on international sales.
- Usage-Based Automation Fees: For tools like Google Calendar sync, automated email sequences, and private group access.
This pay-as-you-go model keeps the platform accessible to small creators while scaling with more established ones.
Facing Fierce Competition
Despite its success, Nestuge competes with larger players like Selar, which paid out ₦9.8 billion to creators in 2024 — more than 20 times Nestuge’s total payouts.
But Nestuge’s lean structure, personalized approach, and product adaptability give it an edge in building loyal creator communities.