Latest Top 20 Popular (FINTECH) Companies In Nigeria 

Latest Top 20 Popular (FINTECH) Companies In Nigeria 

Latest Top 20 Popular (FINTECH) Companies In Nigeria

Latest Top 20 Popular (FINTECH) Companies In Nigeria

Fintech has quickly become the most talked-about topic in the world’s financial industry. Access to banking and financial services has been through a revolutionary change in Nigeria, just as it has in the rest of the globe as a result of the ecosystem of companies that use technology to deliver financial services.

Because of the enormous potential offered by these digital banks, venture capital firms from around the world have been investing heavily in financial technology companies based in Nigeria. The industry is getting increasingly competitive as a result of the proliferation of new fintech companies. This is due to the fact that clients in the target demographic now have access to a wide variety of companies that provide cutting-edge financial services via mobile applications.

It is interesting to note that as more people in Nigeria adopt fintech apps for the ease of use and quick access they provide to financial services regardless of where they are, these users are also providing feedback in the form of ratings and reviews based on their experiences.

Fintech, which stands for “financial technology,” is currently the most prominent technology startup sector in Nigeria. The financial technology industry in Nigeria has attracted more money from venture capitalists than any other industry in both Nigeria and the rest of Africa combined.

Fintech companies in Nigeria are generating significant change, not only for corporations but also for individual customers. They are delivering services that are more streamlined and efficient in an effort to unbundle the financial services that were previously provided by the banks.

Although it is impossible to provide an accurate count of the number of financial technology companies in Nigeria because new fintechs continue to emerge on a daily basis.

It is estimated that there are approximately 250 financial technology companies operating in Nigeria, and a significant number of these businesses have secured financing.

List Of Top 20 Popular (FINTECH) Companies In Nigeria 

  • 20. Credpal
  • 19. Fint
  • 18. Fairmoney
  • 17. Wallet Africa
  • 16. Cellulant
  • 15. Bamboo
  • 14. Trove App
  • 13. Risevest
  • 12. Carbon
  • 11.  Lidya
  • 10. TeamApt
  • 9. Bankly
  • 8. Remita
  • 7. Paga
  • 6. Accelerex
  •  5. KiaKia
  • 4. PayUp
  • 3. Paystack
  • 2. Piggyvest
  •       1. Flutterwave 

20. Credpal

One of the few fintech businesses in Nigeria that deals with credit cards and Buy Now Pay Later.

Credit cards from Credpal make it simple for customers to make purchases at any time. Additionally, the company’s credit card provides rewards on every purchase.

BishopGate Microfinance Bank, which is fully licensed and regulated by the Central Bank of Nigeria, provides CredPal financial services. CredPal provides cutting-edge financial services, including credit and investment products.

Our credit solution offers quick access to credit at the point of checkout, enabling businesses and consumers to purchase anything and pay for it in installments across online and offline Merchants.

Register For Credpal HERE

19. Fint 

The first lending marketplace in Nigeria is called Fint. This fintech business links borrowers with business and individual decision-makers in Nigeria who are looking to profit from low-risk investments. Nigeria’s peer-to-peer lending platform is called Fint. However, new P2P lending services have begun to appear in Nigeria.

Fint is an alternative lending platform that offers everyone the chance to generate income and have an influence by lending to legitimate people and companies that need money.

Register For Fint HERE

18. Fairmoney

One of the well-known fintech firms in Nigeria that began providing rapid online loans there is Fairmoney. With a microfinance bank license, Fairmoney has now evolved into a digital bank in Nigeria.

Through its mobile app, Fairmoney Loan offers to provide speedy loans in under 5 minutes.

A digital bank is FairMoney. We make it simple for you to submit a loan application and receive funding into your bank account within minutes, around the clock.

Register For Fairmoney HERE

17. Wallet Africa

The goal of Wallet Africa is to create financial solutions for the next billion customers leaving Africa. This fintech startup supports local and international money transfers for Africans, as well as the creation and use of physical and virtual dollar and naira cards.

For African businesses, it also offers solutions that make it easier for them to get overdrafts and control their spending.

Latest Top 20 Popular (FINTECH) Companies In Nigeria 

Register For Wallet Africa HERE

16. Cellulant

Cellulant bills itself as the one-stop shop for payments in Africa. This fintech business offers services for payment platform infrastructure (PPISP).

Customers, governments, small enterprises, and organizations have access to financial instruments and infrastructures such cards, bank accounts, wallets, banks, and mobile money accounts thanks to the company’s payment ecosystem and infrastructure. Cellulant continues on after that.

For shopping cart checkout, they also provide access to payment channels like agents, apps, web portals, and payment APIs.

Register For Cellulant HERE

15. Bamboo

The online investment platform Bamboo, also known as “BamBoo Investment” or “invest bamboo,” enables Nigerians to invest freely in more than 3,000 securities listed on the Nigerian Stock Exchange and U.S. stock exchanges.

Any Nigerian can purchase, hold, or sell U.S. and Nigerian equities using Bamboo. A useful feature of the Bamboo app allows anyone to gift stocks to other people. By purchasing a portfolio of stocks on Bamboo, you may also diversify your money (called an ETF).

Register For Bamboo HERE

14. Trove App

An online investing platform called Trove, sometimes known as the “Trove app,” enables Nigerians to participate in both domestic and foreign financial opportunities. such as US, Chinese, and Nigerian stocks, as well as US government bonds and exchange-traded funds. You can start investing with the Trove app and website for as little as $1,000.

Regardless of what you are investing in. No matter if it’s stocks, bonds, property, or any type of financial asset. The simple objective of investing is to make extra money.

The Trove app is promoting fractional investing. The idea is that anyone may amass riches by consistently investing small amounts of cash. rather to making a significant investment all at once. This software also gives you access to resources for financial literacy that can make you a wise investor.

Register For Trove App HERE

13. Risevest

Risevest is a wealth management firm (wealthtech) that provides Nigerians with options to invest in dollars.

This investment firm offers investment options including US stocks, US real estate, and fixed-income opportunities to assist consumers in managing their wealth.

Rise Vest began as a free investing club that assisted its members in making real estate and stock investments in the US from Nigeria. As the club expanded, it became clear that a community and app for holistic financial management were necessary. One that helps thousands of people stable their financial future by providing financial advice and long-term investing assistance.

This company’s stock investments returned up to 23.78% in 2019 (their defensive portfolio returned less than the overall US market but much higher than nearly all dollar assets available locally) and real estate investments returned up to 17.48%. The company’s assets under control are currently at $50,000 and are increasing quickly.

                                   

Register For RiseVest HERE

12. Carbon 

A fintech startup in Nigeria by the name of Carbon—previously known as Paylater—offers loans to borrowers, enables online money transfers and bill payments, and provides high-interest savings accounts as a means of investing.

In essence, Carbon is currently among Nigeria’s most well-known digital banks, but this wasn’t always the case. In 2012, the business began as Onefi (Onefinance), a lending firm that offered users short-term loans of up to N1,000,000 within 24 hours. But in 2016, Onefi changed its name to Paylater, and a few months later, the business opted to stick with the new moniker.

 

Register For Carbon HERE

11.  Lidya

Nigerians can obtain business loans from Lidya without putting up any collateral. Through Lidya, businesses can obtain finance without going to the bank and without paying any unexpected expenses.

Lidya loans give you the chance to grow your company and increase revenue. Without requiring any type of collateral, Lidya offers loans depending on the cash flow in your bank account. To take your business to the next level, register right away.

Register For Lidya HERE

10. TeamApt

Teamapt is a fintech company that creates infrastructure for payments as well as digital banking and business solutions. The business also runs the biggest mobile non-bank money platform.

In 2015, TeamApt was established with the goal of digitizing the African economy. It accomplishes this by creating financial platforms for businesses and equipping them with all the tools necessary for payment, banking, credit, and business administration.

Nigeria’s largest commercial payments platform, TeamApt, supports over 400,000 businesses in receiving payments and processes $100 billion in transaction value annually through its products, Moniepoint and Monnify.

These tools give entrepreneurs access to the full-service IT solutions and real-time assistance they need to expand, manage, and safeguard their companies, regardless of their degree of digital literacy or geographic location.

Register For TeamApt HERE

9. Bankly

Nigerian fintech company Bankly is dedicated to giving underprivileged people access to financial services. They consider themselves as serving as a link between Nigeria’s informal and formal financial systems. The range of goods offered by Bankly includes deposits, bill payments, savings, and lending.

Register For Bankly HERE

8. Remita

One of the major online payment providers in Nigeria, Remita assists both businesses and people in collecting payments, processing payments, and managing their money across numerous banks.

After selling software, it went on to develop its own lucrative payroll and human resources management software (HumanManager). Remita, one of Nigeria’s most powerful financial solutions, was later developed by SystemSpecs.

Remita exploded as the Nigerian government’s exclusive method of collecting money. Since then, Remita has developed into a fully working payment platform for both people and businesses.

Register For Remita HERE

7. Paga 

Paga is a provider of mobile payments. By establishing a straightforward financial access system for everyone, we are enabling people to send and receive money digitally.

Paga is a reputable, efficient, and tested mobile payment provider. Users can make payments even without an internet connection by simply dialing the code *242#.

Paga’s original objective was to make it possible for users to send money without being charged a fee, regardless of the amount. But over time, the business added other capabilities that permit bill payment, bank deposit, and payment at some establishments.

Visa declared that it had partnered with Paga on payments and technology in March 2020. Users of Paga can now conduct transactions on the Visa global network thanks to this partnership.

Since the year 2020, Paga has been attempting to spread outside of Nigeria. In January 2020, it bought the Ethiopian software development firm Apposit and established a presence in Mexico.

This leading FinTech company in Nigeria has over 12 million consumers and more than 20,000 agents spread across the nation.

Register For Paga HERE

6. Accelerex

In 2022, Accelerex, another notable Nigerian fintech, will be one to keep an eye on as it works to speed up e-payments throughout Africa. By predicting and satisfying the demand for quick and secure fintech products, solutions, and services, the company, which started operations in 2013, has continued to surpass clients’ expectations.

Since 2019, the business has maintained its position as Nigeria’s top Payment Terminal Service Provider in terms of the value of transactions completed. With over 90,000 merchants spread across the 36 states of Nigeria, it supports 95% of the country’s banks.
In Nigeria, the name Accelerex is a byword for trustworthy, cutting-edge electronic payments. It gave birth to the brand’s operations expanding to Ghana, Kenya, and the Democratic Republic of the Congo, with plans in place to expand to more African nations before the year is through.

Accelerex provides a wide range of goods and services that streamline business and e-payment procedures. One of these is the Accelerex Agent Network Platform (ANP), a powerful web-based platform specially created to service all participants in the Agency Banking market and streamline and facilitate their company operations.

 

Register For Accelerex HERE

5. KiaKia

KiaKia is a certified, totally online, direct and peer-to-peer lender that offers adjustable interest rates on direct personal loans. This business arranges loans between borrowers and private or public lenders at rates that are acceptable to both parties.

With increased reputation, borrowers can now choose their own lenders and provide their own interest rates in exchange for a small fee that KiaKia keeps for developing and running the platform.

Register For Kiakia HERE

4. PayUp

Pay up is a financial technology firm that focuses on providing customers with a more affordable and scalable alternative to the existing banking system that also offers additional conveniences (consumers or merchants alike).

SMEs may securely take card payments in-store or on-the-go thanks to the company’s integrated card payment and POS solution. A mobile card reader that attaches to a phone or tablet and turns it into a card acceptance terminal is available from PayUp as a free point-of-sale app.

Register For PayUp HERE

3. Paystack

Paystack is a Nigerian startup that facilitates online payments. At the moment, the business promotes itself as a growth engine that other innovative businesses and creatives in Africa can leverage. Paystack’s primary function is to simplify financial transactions in Africa, both online and offline.

Paystack makes it possible for businesses in Nigeria to accept online payments from customers located anywhere in the world. using credit cards such as MasterCard, Visa, and Verve.

Register For PayStack HERE

2. Piggyvest

One of the most effective online savings tools is called PiggyVest. PiggyVest gives users the opportunity to save money at a rate of return that is superior to that offered by conventional financial institutions. It is without a doubt one of the most successful and innovative FinTech companies in Nigeria. PiggyVest offers numerous saving programs. You have the option of using the PiggyBank feature of the platform, which gives you the ability to predetermine the daily amount of money that you want to put away in your savings account.

The sum will be withdrawn from your account on a daily basis on its own accord and saved in PiggyVest until the time you have designated for its withdrawal, at which point you will withdraw it along with the interest that has been determined (which is currently 8% per annum).

You have the ability to fix your cash and lock them up for a predetermined amount of time with the Safelock feature. When the money has reached its maturity level, only then will you be able to withdraw it. It is comparable to the fixed deposit account offered by Nigeria’s traditional banks, with the exception that you have the freedom to choose the term of the deposit and can earn an interest rate of up to 13%. (upfront).

PiggyVest also has other features, such as the Flex Dollar, which lets you save in dollars, collect interest, and transfer dollars to anyone else who uses PiggyVest.

Register For PiggyVest HERE

  1. Flutterwave 

Another online payment startup that was recently recognized as an African Unicorn is called Flutterwave. Flutterwave facilitates the process of making and collecting payments from anywhere in the world for businesses and individuals based in Africa.

It was an accomplishment for Flutterwave to raise as much as $170 million, which valued the company at more than $1 billion at the time. The Nigerian payment startup has successfully acquired more than $200 million in finance and has raised at least $225 million in capital.

Shortly after the announcement that the company was valued at more than $1 billion went viral, the company followed it up with an announcement stating that Flutterwave is collaborating with PayPal to enable businesses in Nigeria and other African countries to receive payments. This partnership was made possible as a result of the widespread dissemination of the earlier news.
“This removes the barrier for African merchants to take PayPal,” said Flutterwave CEO Olugbenga Agboola on Twitter. “Once you have @theflutterwave for business, PayPal is now one of your payment kinds.”

The mobile operating systems Android and iOS are supported by the Flutterwave app. It is also the creator of the popular financial service apps known as Barter and Rave, both of which are used today.

Flutterwave operates offices in both Lagos and San Francisco, and the company’s platform is used by more than 280,000 different companies to conduct business. This leading Nigerian financial technology company presently has operations in twenty different African nations.

Register For Flutterwave HERE

In Conclusion

Nigeria’s FinTech industry is a promising one that is still growing quickly. This list of popular top 20 (FINTECH) companies is just a small sample of all the FinTech companies and startups in the country right now.
These companies have been able to take advantage of the technological opportunities in the financial services industry. However, there are still many opportunities and new areas to explore within the industry.

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