13 Most Popular Fintech Companies In Nigeria

 

13 Most Popular Fintech Companies In Nigeria

Want to know the top or most popular Fintech Companies in Nigeria presently? You’ve come to the right page. This article features a complete list of the top best performing financial technology startups in Nigeria at the moment. Read on!

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The Growing Financial Technology Industry In Nigeria

Fintech, (an abbreviation of Financial Technology,) refers to the utilization of modern technology to provide improved, convenient, automated financial product and services for individuals, businesses, organizations and so on.

All over the country, its being noised about that Agriculture is the new gold. It is the pathway to prosperity in the present season. 

However as much as we all agree with this, it is not only agriculture that is bringing diverse wealth and jobs to the populace these days. 

There’s another industry emerging with speed and blazing trail, growing like uncontrollable wildfire, The Fintech industry.

The Fintech industry is an emerging industrial revolution that harnesses the power of technology for great improvement of financial operations and activities.

Services Provided By Fintech Companies

Some of the services provided by Fintech companies include;

  • Insurance, 
  • investments, 
  • trading, 
  • Mobile banking services, 
  • Blockchain and Cryptocurrency
  • Loans

Currently, there are over 144 Fintech companies in Nigeria, offering different kinds and dimensions of financial services and products. Here we take a peep into some of them whose name will sure ring a bell anywhere it is mentioned in the country.

1. Paystack

A payment gateway for online transactions founded in 2009, Paystack creates ease and convenience for merchants to receive credit and debit card from customers or users. 

With Paystack, payments can be accepted via money transfer credit cards, debit cards, and mobile money. Currently the company is worth over 100 million US dollars.

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2. Piggyvest

Started in 2016 and previously known as Piggybank, Piggyvest is an online saving platform that allows users to earn returns on their savings while also instilling in them a culture of financial discipline. 

Savings in Piggyvest can earn up to 13% interest annually, while investments can earn up to 25% interest annually. Many tech savvy and financial expert users have testified to Piggyvest’s security and safety,

3. Flutterwave

Like Paystack, Flutterwave is also a payment platform which allows completion of payment services from over 60 online payment gateways in Nigeria. It was founded in 2016 by Iyin Aboyeji, a co-founder of Andela.

4. Remita

Launched in 2005, Remita has been voted several times in Nigeria as the software of the year, and rightly so. It is the payment gateways for funds paid to the Federal government such as tariffs, taxes, levies, and so on. 

Apart from this, Remita also perform some sort of HR functions for companies by assisting them in maintenance of good online employee payroll and personal data.

5. Carbon (Paylater)

Paylater is one of the virtual loan apps in Nigeria that helps underserved and excluded individuals to access financial credits with its automated lending services. 

Like many other big name Fintechs in Nigeria, Paylater was also launched in 2016. The company has since then changed its name to Carbon.

6. Paga

Paga is one of the top actors in the mobile Money business. Services offered by Paga include sending and receiving money, bill payment, airtime recharge and so on. The company started in 2012, and since then, there’s no stopping its astronomical growth.

Other Top Fintech Startups in Nigeria

Some other fintech companies in Nigeria includes;

7. Okash

8. Kuda Bank

9. Opay

10. Interswitch
11. Renmoney
12. Etranzact
13. Alat by Wema

In Summary

These are some names of some of the Fintech companies making wave in Nigeria with their products and services. Feel free to choose any that best suits the services you desire among them, and please don’t forget to share this piece.

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Photo credits: Dreamstime

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