FinTech, or financial technology, is revolutionizing the world of finance. From banking to payments to investment, FinTech is making things faster, easier, and more secure for everyone involved. And Nigeria is at the forefront of this revolution!
Whether you’re looking for a cutting-edge payment solution or want to stay up to date on Nigerian Fintech, this list has you covered.
There are over twenty-five (25) fintech companies in Nigeria, and more are still coming up and growing as one of the fastest in the technological sector. These fintech companies are fast, safe, and efficient.
What is FinTech?
Fintech means financial technology. This refers to applying technological development to various products and services related to the financial industry. They aim to ensure they provide solutions to various financial problems using technology.
They serve both consumers and various businesses to the best of their abilities. For some years, most financial tech companies have existed, from mobile banking to debit cards and trading apps, etc. Here are 25 of the best FinTech companies in Nigeria
These fintech companies can be divided into various sections, to mention a few, and we’re going to list the twenty-five (25) top fintech companies under the following areas. This article will list the top 25 best FinTech companies in Nigeria in 2022.
How many FinTech companies are in Nigeria?
As of 2022, it is estimated that are over 200 fintech companies in Nigeria but this article will cover the 25 Most Influential Fintech Companies In Nigeria.
Various Sections Under Which Fintech Companies are Divided In Nigeria
Under each of these sections, we are to consider five Fintech companies in Nigeria and the type of financial service they offer.
Fintech Companies In Nigeria That Mostly Deal On Payments
Flutterwave offers different services, but the major services in Nigeria can be used as a payment gateway.
Their other services include selling online and utilizing various business tools to boost your business.
Flutterwave is a fintech company in Nigeria that accepts payment in more than thirty (30) countries and at least five hundred thousand (500,000) daily payments being processed from anywhere in the world as well as more than fifteen (15) payment options.
Flutterwave is a fintech company in Nigeria that also perform some of the following duties
- Generating professional invoices for its customers anywhere in the world and getting paid
- Creating an e-commerce website that brings sellers around the world together just by clicking
- Receive recurring payments through a client’s unique link
Paystack is another leading fintech company in Nigeria; this fintech company is trusted by over sixty thousand businesses (60000). They offer payment options and other services that include.
- Building a customized payment experience with well-documented API by verifying the identity of customers
- Help in retrieving all transaction as it relates to customers’ data
- This fintech company gives customers various payment options to utilize by using their cards, bank accounts, USSD code, bank transfers, mobile money, etc.
- They also have automated systems that can quickly detect fraud and protect their users from fraudulent transactions
Interswitch Nigeria, as a fintech company, is known as the gateway to Africa as a payment ecosystem to create a payment system that encourages businesses to thrive and create payment solutions for various industries and businesses.
They encourage digital commerce they pay bills to make services and subscriptions; they have over 26,000 people and agents in Nigeria and over 190,000 transactions daily, and more than 22 million verve cards activated on the network
One cannot list fintech companies in Nigeria without mentioning remita. This business has helped individuals to pay bills, pay for data services, electricity bills, etc
With multiple payment options, that is, you can either use
- Card to pay
- USSD code
- Internet banking
They help securely make payments with different vendors and suppliers without any time limit. That is to say, and they operate 24 hours daily; their app is also available on the Play Store and Apple store.
E-transact is the first award-winning platform in electronic payment process platform.
Apart from serving industries, they assist individuals in making payments from anywhere in the world. They also render their services to corporate institutions and have two-factor authentication that guarantees a 99.9% trusted network and security.
Fintech Companies In Nigeria That Mostly Deal In Banking
6. Kuda Bank
Kudabank is another fintech company that helps users get the best out of their money without a string attached. They have an app available on the Apple store and play store.
They issue a free debit card to their users and create a group target that can assist you in controlling how you spend and zero percent charges for sending money to any bank in Nigeria to also pay up to 15% interest for saving.
7. Piggy Vest
Piggyvest, over the years, has assisted over three million customers achieve financial goals by 7 they provide a high level of internal security to protect customers’ information from fraud with 5% to 15% interest when you save automated saving features, they also have other investment plans.
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Bankly provide hybrid infrastructure to move and store cash and also availability to pay bills, make a deposit and make transfer and withdrawal using their POS terminals
9. Team Apt
Another fintech company is known as teamapt; they aim to create financial solutions that deliver happiness financially by optimizing the operations of partner banks.
They launched a money point that uses a network of merchants Nationwide to provide financial services either through mobile apps or pos; they also run cash deposits, transfer cash withdrawals, and pay bills
Chipper cash is a fintech company that sends and receives money across Africa with over 4 million users and 80000 transactions per day, and an average transaction time of 0.03 seconds.
Fintech Companies In Nigeria That Mostly Deal In Investment
Bamboo is one top fintech companies in Nigeria; when it comes to investment, one can buy and sell US stock because they give access to over 3,000 stocks listed on the US stock exchange market, all from the comfort of your home
Trove helps make investments easy. They make provision for you to become a global investor and invest in Nigerian stocks American and Chinese stocks; with as little as 1,000 naira, you can always invest in Bits through fractional investing
Risevest lets you pick up quality dollar investment to help you grow and ensure it retains their value better since you’re investing in a stable currency did help you choose what is best for you
Cowrywise is another fintech company in Nigeria with the security and exchange commission in Nigeria, and all their activities have been regulated.
They give options for investment and help in growing your global portfolio
Afrinvest has over 25 years of experience under security and exchange commission regulations with more than twenty years of experience in financial and wealth expertise they give access to diversified short-term investments with as low as 5,000 nairas and get a return of investment every 3 months
Fintech Companies In Nigeria That Mostly Deal In Lending
Fairmoney is a digital bank that gives instant loans without a need to seek collateral.
the company is licensed by the Central Bank of Nigeria and issued by the NDIC; they give out over 10,000naira loans once you can fit into the eligibility status, and their loan amount ranges from 1500 to 1 million naira with a repayment time frame from 61 days to 18 months and interest rates from 2.5% to 30%
Okash is another fintech company in Nigeria that gives out loans just by downloading the app applying for a loan receiving your loan, and ensuring you pay your loan in due time; they provide better financial services with fast approval and process more loan request without any paperwork or documentation.
Carbon bank offers instant loans and credit simply without a guarantor or collateral, and their loan is available 24/7 with low-interest rates. When you repay loans on time, apart from lending, you can also buy airtime and pay bills; they give you access to keep track of all credit history for free and a Visa card for free.
Lidya is a fintech company in Nigeria that helps you grow your business in three easy steps: creating an account, selecting your loan type, and getting your loan within 24 hours. By utilizing this loan, you can expand your business without collateral.
Using credpal, you can enjoy loans and payback in six months; you can also shop from their partner merchant and enjoy many discounts.
Credpal fintech company has over 1 million users to travel, lounge, ride and pay later.
The merchants also enjoy increased sales and a high tendency to acquire new customers
Fintech Companies In Nigeria That Mostly Deal In Insurance
Paddy cover is another fintech company that focuses on insurance by following three simple steps: filling out the required form, selecting your preferred plan, and downloading your policy.
The insurance plan is flexible for as low as 150 naira per week for car insurance and 3500 per month for health insurance.
Cassava Fintech company protects you and everything you love at an affordable price with a one-month free trial of its insurance benefits, and it has over 66,000 users across Nigeria.
23. Allianz Ng
Allianz Nigeria is another fintech company specializing in investment that covers everything valuable to you. It is simple and consumes less time; they treat claims and various products to protect your family and business.
24. Wapic Mobile
Wapic insurance operates and offers insurance services in pension and special risk; another fintech company deals with insurance.
AIICO is a non-banking fintech company providing stability to their customers since 1983; they give access to fully customized portfolios and a range of solutions that have to do with insurance.
Conclusion: Fintech companies in Nigeria
Fintech companies in Nigeria have come a long way and it’s only going to get better. With more user-friendly companies entering the market, we can expect easier and faster ways of transacting business. All these fintech companies listed above are user-friendly and easy to use; you can always pick one to meet any of the above listed, be it for payment, investment, insurance, lending, or banking.
So, if you are looking for a user-friendly and easy-to-use fintech company that can meet any of your needs, then the list above is perfect for you.
Be sure to check out their websites and see which one works best for you! Have you tried any fintech products? Let us know in the comments below!
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