Fintech (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.
Fintech companies in Nigeria are driving real 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.
While there is no exact number of fintech companies in Nigeria as new fintechs continue to spring up every day.
There’s a guesstimate of over 250 fintech companies in Nigeria with a lot of these companies securing investment.
List of Top Fintech Companies in Nigeria 2021
- Remita / SyatemSpecs
- Trove App
- V Bank By VFD
- Fair Money
Flutterwave is another online payment company that just became an African Unicorn. Flutterwave helps African companies and creatives easily make and collect payments from anywhere in the world.
Piggyvest started out as an online savings platform in Nigeria. But has since added investment products to its suite of products. Piggyvest currently helps around 2 million Nigerians save and invest from their smartphones.
Paystack is an online payment company in Nigeria. The company 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.
Bankly is a fintech in Nigeria focused on providing access to financial services for the underserved. They see themselves as the bridge between the informal and formal financial ecosystems in Nigeria. Bankly’s suite of products includes financing, savings, bill payments as well as deposits.
5. Remita / SystemSpecs
Remita is one of Nigeria’s top online payment company that helps both individuals and companies collect and make payments and also 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 behemoth in Remita.
Remita exploded as it became the sole revenue collector system for the Nigerian government. Remita has since grown into a fully functional payment platform for individuals and organisations.
Teamapt is a fintech that develops digital banking and digital business solutions as well as payments infrastructure. The company also operates the largest non-bank money mobile platform.
Lidya offers collateral-free business loans to people in Nigeria. Companies can get financing through Lidya without having to go to the bank while also avoiding hidden fees.
One of the pioneer fintech companies in Nigeria. Carbon started out as a digital lender in Nigeria but has since transitioned into a digital bank that you can pay bills with, transfer money as well as access instant loans from.
9. Kuda Bank
Kuda is a mobile-only bank that offers zero card maintenance fees, free transfers, automatic savings to Nigerians.
Risevest is a wealth management company (wealthtech) offering dollar investment opportunities to Nigerians. This investment company helps people manage their wealth by offering investment plans like US real estate, US Stocks as well as fixed-income opportunities.
11. Trove App
Trove is an online investment platform in Nigeria that allows anyone to start investing in Nigerian and US stocks from as little as N1000.
Bamboo is another investment company in Nigeria for investing in local and foreign stocks using its app.
Interswitch is one of Nigeria’s pioneer payments company 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.
Opay is a mobile money payment service in Nigeria that lets anyone pay bills, transfer and receive money, access loans as well as easily save on its app. The company claims it processes over 60% of the mobile money transactions in Nigeria.
Chipper Cash is a platform for sending and receiving money across Africa. This is one of the fintech companies in Nigeria that you can use to receive money from other African countries like South Africa, Kenya, Ghana, Tanzania, Rwanda and Uganda.
Chipper cash currently has over 3 million users while adding 10,000 users every day.
One of the popular 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.
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, Money gram and Transferwise.
One of the rare fintech companies in Nigeria operation in the space of credit cards. 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.
19. 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. V bank also allows users to track their expenses and income, group budgets, and set spending limits.
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 is Nigeria’s pioneer loan marketplace. This fintech company connects borrowers to individual and corporate leaders who are seeking to earn returns from low-risk investments in Nigeria. Fint is Nigeria’s peer to peer (p2p) lending platform.
Fairmoney is one of the popular 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.
23. Wallet Africa
Wallet Africa mission is to build financial tools for the next billion users coming out of Africa. This fintech company helps Africans to send and receive money locally and internationally, create and use virtual dollar cards and physical naira cards. It also has solutions for African businesses that help them access overdrafts as well as manage their expenses.
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 organisations, 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 acess to payment channels like agents, apps, web portals & payment APIs for shopping cart checkout.
Note: This list will be updated constantly. If you think your company’s name should be here. Please send us your company details to [email protected] and we will have a look. Thank you.