Updated on January 8, 2024
Fintech companies in Nigeria are driving real significant change for consumers as well as businesses.
They are unbundling financial services that used to go through the banks by providing more efficient and streamlined services.
In this article, you’ll learn about the biggest and top Nigerian fintech startups in Nigeria
Fintech aka financial technology is the biggest tech/startup sector in Nigeria. The Fintech sector in Nigeria has received more VC (Venture capital) funding than any other sector in Nigeria and Africa as a whole.
In the last 2 years, over $1.5 Billion has been invested in Nigerian fintech companies.
While there is no exact figure for the number of fintech companies in Nigeria new fintechs continue to spring up every day.
There’s a guesstimate of over 700 fintech companies in Nigeria with a lot of these companies securing venture capital investment.
Fintech companies in Nigeria primarily aim to provide financial services to improve the lives of everyday Nigerians.
Here’s the list of licensed top 50 fintech startups and companies in Nigeria.
List of Fintech Companies in Nigeria
- Piggyvest
- Flutterwave
- Kuda
- Paystack
- Interswitch
- Lidya
- Carbon
- Remita
- Opay
- Chippercash
- Paga
- Fairmoney
- Bankly
- TeamApt (Moniepoint)
- Risevest
- Trove
- Bamboo
- eTranzact
- Credpal
- V Bank by VFD
- Eyowo
- Fint
- Wallet Africa
- Cellulant
- NowNow
- Renmoney
- Kiakia
- Grey
- Eversend
- CDcare
- P2Vest
Top 50 Fintech Companies in Nigeria
Here are the biggest and top fintech companies in Nigeria right now:
Piggyvest
Piggyvest started as an online savings platform in Nigeria. But has since added investment products to its suite of products.
This fintech startup currently helps around 2 million Nigerians save and invest from their smartphones.
Flutterwave
Flutterwave is another online payment startup that just became an African Unicorn. Flutterwave helps African companies and creatives easily make and collect payments from anywhere in the world.
See: Top Payment Gateways in Nigeria for Your Business
Kuda
Kuda is a mobile-only bank that offers zero card maintenance fees, free transfers, and automatic savings to Nigerians.
Related: Top Saving Apps in Nigeria
Paystack
Paystack is an online payment company in Nigeria. This fintech startup currently positions itself as a growth engine for innovative companies and Creatives in Africa. In essence, Paystack facilitates easy online and offline payments in Africa.
Interswitch
Interswitch is one of Nigeria’s pioneer fintech payment companies digitizing the payment ecosystem in Africa.
Having started operations in 2002 as a transaction switching and electronic payment processing company.
Interswitch has grown into an integrated payment services company building innovative payment and finance products in Africa.
Lidya
Lidya offers collateral-free business loans to people in Nigeria. Companies can get financing through this fintech loan company without having to go to the bank while also avoiding hidden fees.
Related: Accredited HMO Companies in Nigeria
Carbon
One of the pioneer fintech companies in Nigeria. Carbon started as a digital lender in Nigeria but has since transitioned into a digital bank where you can pay bills, transfer money as well and access instant loans.
Remita
Remita is one of Nigeria’s top online payment companies that helps both individuals and companies collect and make payments and manage their finances across multiple different banks.
After retailing software products and then going on to create its own successful Payroll/Human resources management Software (HumanManager). SystemSpecs then went on to create one of Nigeria’s fintech solution behemoths in Remita.
This Nigerian fintech firm exploded and became the sole revenue collector system for the Nigerian government. Remita has since become a fully functional payment platform for individuals and organizations.
Checkout: Legit Forex Investment Companies in Nigeria
Opay
Opay is a mobile money payment service in Nigeria that lets anyone pay bills, transfer and receive money, access loans, and easily save on its app.
This fintech startup claims it processes over 60% of mobile money transactions in Nigeria.
Checkout: How to get Opay POS Machine
Chippercash
Chipper Cash is a fintech platform for sending and receiving money across Africa. This is one of the top fintech companies in Nigeria that you can use to receive money from other African countries like South Africa, Kenya, Ghana, Tanzania, Rwanda, and Uganda.
This Nigerian fintech startup currently has over 3 million users while adding 10,000 users every day.
Paga
One of the best fintech companies in Nigeria, Paga is a mobile payment platform for easily sending and receiving money in Nigeria.
Paga is a mobile wallet for depositing and saving money, purchasing prepaid phone credit, paying bills, and also for making payments to retailers.
Fairmoney
Fairmoney is one of the best fintech companies in Nigeria that started offering instant online loans in Nigeria. Now Fairmoney has transitioned into a digital bank in Nigeria with a microfinance bank license.
Fairmoney loan app claims to offer quick loans in under 5 minutes through its mobile app.
See: How to Apply for a Fairmoney Loan
Bankly
Bankly is a fintech in Nigeria focused on providing access to financial services for the underserved. The company sees itself as the bridge between the informal and formal financial ecosystems in Nigeria.
Bankly’s suite of products includes financing, deposits, savings, bill payments as well as a POS service.
Also Checkout: How to Start a POS Business in Nigeria
TeamApt (Moniepoint)
Moniepoint is one of the top fintech companies in Nigeria that develops all-in-one payments, banking, and an operations platform for businesses. The company also operates the largest non-bank money mobile platform.
Moniepoint was formerly named Teamapt, but the company rebranded to “Moniepoint Inc”.
Checkout: How to get Moniepoint POS Machine (Price, Charges & Withdrawals)
Risevest
Risevest is a wealth management company (wealth tech) offering dollar investment opportunities to Nigerians.
This fintech investment company helps people manage their wealth by offering investment plans like US real estate, and US Stocks as well as fixed-income opportunities.
Related: How to Buy Facebook Shares from Nigeria
Trove
Trove is an online investment platform in Nigeria that allows anyone to start investing in Nigerian and US stocks from as little as N1000.
See: Best Stock Trading Apps in Nigeria
Bamboo
Bamboo is another fintech investment startup in Nigeria for investing in local and foreign stocks using its app.
See: How to Buy Shares in Nigeria
eTranzact
Tranzact is one of Nigeria’s top payment processing platforms.
It is the only payment processing platform that is quoted on the Nigerian stock exchange.
The company has relationships and partners with over 50 commercial banks and microfinance institutions around Africa.
It also has integrations with some of the biggest international payment companies in the world like Paypal, Western Union, Moneygram, and Transferwise.
Credpal
One of the rare top fintech companies in Nigeria operating in the space of credit cards and Buy Now Pay Later in Nigeria.
Credpal offers credit cards that help people easily pay for things at any time. The company’s credit card also offers cashback on everything purchased.
V bank by VFD
V Bank is one of the growing digital banks in Nigeria. V bank was created by VFD Microfinance Bank in Nigeria.
Other than the usual banking functions that every bank app in Nigeria has.
This fintech app also allows users to track their expenses and income, group budgets, and set spending limits.
Eyowo
Eyowo is a financial platform for individuals in Nigeria to send, receive, save, and borrow money with just a phone number. Eyowo also has a product for retail businesses in Nigeria.
Fint
Fint is Nigeria’s pioneer loan marketplace. This fintech startup connects borrowers to individual and corporate leaders who are seeking to earn returns from low-risk investments in Nigeria.
Fint is Nigeria’s premier peer-to-peer (P2P) fintech loan platform. However, other platforms offering P2P loans in Nigeria have started to pop up.
Wallet Africa
Wallet Africa mission is to build financial tools for the next billion users coming out of Africa.
This fintech startup helps Africans to send and receive money locally and internationally and create and use virtual dollar cards and physical naira cards.
This financial services company also has solutions for African businesses that help them access overdrafts as well as manage their expenses.
See: Best Loan Apps in Nigeria with Low Interest
Cellulant
Cellulant claims to be Africa’s one-stop shop for payments. This fintech company is a Payment Platform Infrastructure Service Provider (PPISP).
The company’s payment infrastructure and ecosystem give consumers, governments, small businesses, as well as organizations, access to financial instruments and infrastructures like cards, bank accounts, wallets, banks, and mobile money accounts.
Cellulant doesn’t just stop there. They also offer access to payment channel services like agents, apps, web portals & payment APIs for shopping cart checkout.
NowNow
NowNow is one of the new top fintech companies in Nigeria on the block.
It offers a digital app that allows individuals to send money, receive money, and pay bills. As well as a NowNow Mastercard card that comes with cashback, discounts, perks, and rewards.
NowNow also offers POS services to businesses that want to become POS agents.
There’s also the NowNow Marketplace where businesses can sell online and put their products in front of thousands of buyers at zero fees and zero commission.
Renmoney
Renmoney is one of the OG fintech companies in Nigeria. It is a digital bank in Nigeria that offers loans, savings, payments, and investment services. Renmoney is regulated by CBN and the NDIC which ensures customers’ deposits and savings.
Renmoney loans are some of the best personal and business loans in Nigeria.
KiaKia
With the unbeatable KiaKia Peer-2-Peer Marketplace, you let your money work for you. Easy and convenient. Give out loans and earn fantastic returns.
Kiakia is a fintech loan company that lets anyone access and lend out personal and business capital. Kiakia lets you borrow at amazing and very flexible interest rates for as low as 6.5% and earn over 28% as a return on funds.
Grey
Grey, formerly Aboki Africa, offers a unique opportunity for Africans to manage international finances.
Secure foreign accounts with Grey to receive global payments and conduct online transactions in USD, EUR, and GBP.
This is one of the top-growing fintech startups in Nigeria.
Eversend
Eversend, a multi-currency e-wallet, empowers you to swap, stash, and send money worldwide, effortlessly. With Eversend, sending money is a breeze.
Eversend also offers a virtual debit card for instant online shopping, where you can load it with any currency and transact in USD.
Eversend is one of the few fintech companies that lets you hold and convert a variety of currencies, including USD, EUR, NGN, KES, UGX, RWF, and GBP. Whether you’re in Kenya, Nigeria, Rwanda, South Africa, Swaziland, Tanzania, or Uganda, sending money is seamless.
CDcare
CDcare is a Nigerian fintech startup offering a smarter way of shopping in Nigeria.
People can get the latest gadgets and household appliances and pay for them in convenient, zero-interest installments.
CDcare allows you to ‘Pay Small Small’ (Nigerian slang for paying in installments) without a hint of interest.
P2Vest
P2Vest is an innovative fintech company in the peer-to-peer online lending space that offers a unique range of services, from fee-free lending opportunities for savvy investors to providing personal and business loans to borrowers in need.
Top Fintech Startups & Companies in Nigeria
| S/N | Fintech Company | Known for |
|---|---|---|
| 1 | Flutterwave | Payments, Money Transfers |
| 2 | Piggyvest | Savings & Investments |
| 3 | Paystack | Payments |
| 4 | Bankly | Business Banking |
| 5 | Remita | Digital Payments |
| 6 | Moniepoint | Business Banking |
| 7 | Lidya | Business Loans |
| 8 | Carbon | Digital Bank |
| 9 | Kuda | Digital Bank |
| 10 | Risevest | Investment Tech |
| 11 | Trove | Stock Brokerage |
| 12 | Bamboo | Stock Brokerage |
| 13 | Interswitch | Digital Payments |
| 14 | Opay | Digital Bank |
| 15 | ChipperCash | Cross Border Money Transfer, Virtual Cards |
| 16 | Paga | Digital Payments |
| 17 | eTranzact | Digital Payments |
| 18 | Credpal | Buy Now Pay Later |
| 19 | V Bank | Digital Bank |
| 20 | Eyowo | Payments |
| 21 | Fint | P2P Loans |
| 22 | Fairmoney | Digital Bank |
| 23 | Wallet Africa | Digital Wallet |
| 24 | Cellulant | Digital Payments |
| 25 | NowNow | Banking & Bill Payment |
| 26 | Ren Money | Loans |
| 27 | KiaKia | P2P Loans |
| 28 | Grey | Foreign Bank Accounts |
| 29 | Eversend | Cross Border Money Transfer |
| 30 | CDCare | Buy Now Pay Later |
How Many Fintech Companies Are There in Nigeria
There are over ~700 fintech companies and startups in Nigeria mostly in Lagos with the rest spread across Abuja and Ibadan.
Note: This list will be updated constantly. If you think your company’s name should be here. Please send us your company details to talk@koboline.com.ng and we will have a look. Thank you.
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