10 Fintech companies in Nigeria you should know

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Are you interested in learning about the top 10 fintech companies in Nigeria? Fintech, or financial technology, is a term that describes the use of technology to provide innovative and efficient financial services.

Fintech companies are disrupting the traditional banking and payment systems by offering more accessible, convenient and affordable solutions to consumers and businesses. Here are some of the most successful and influential fintech companies in Nigeria, according to various sources:

1. Flutterwave

Founded in 2016, Flutterwave is a payment platform that enables businesses and individuals to send and receive money across Africa and beyond.

Flutterwave has partnered with global giants like Visa, Mastercard, PayPal and Stripe to facilitate seamless transactions.

Flutterwave also offers a range of products such as Barter, a mobile app for personal finance management; Rave, a payment gateway for online merchants; and Moneywave, an API for remittances and bill payments.

2. Paystack

Paystack is another payment platform that was launched in 2015. Additionally, Paystackhelps businesses accept online and offline payments from customers using various methods such as card, bank transfer, USSD, QR code and mobile money.

It also provides tools for invoicing, subscription management, fraud detection and customer support. It was acquired by Stripe in 2020 for over $200 million, making it one of the largest exits in the African tech scene.

3. Kuda Bank

Kuda Bank is a digital-only bank that offers zero-fee banking services to Nigerians. Equally, Kuda allows users to open an account, deposit money, transfer funds, pay bills, buy airtime and access loans from their smartphones.

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It also provides a debit card that can be used at any ATM or POS terminal. Kuda Bank was founded in 2019 and has raised over $55 million in funding so far.

4. Piggyvest

PiggyVest is a savings and investment platform that helps Nigerians achieve their financial goals.

This platform allows users to save money automatically or manually, earn interest on their savings, invest in various opportunities such as agriculture, real estate and mutual funds, and withdraw their funds anytime.

It was founded in 2016 and has over 2 million users who have saved over $200 million on the platform.

5. Chipper Cash

Chipper Cash is a fintech cross-border money transfer service that enables users to send and receive money across Africa for free. Also, Chipper Cash also offers a peer-to-peer payment feature that allows users to pay each other using their phone numbers or QR codes.

Chipper Cash was founded in 2018 and has expanded to eight African countries, including Nigeria, Ghana, Kenya, Uganda, Rwanda, Tanzania, South Africa and Zambia.

6. Paga

Paga is a fintech mobile money service that enables users to send and receive money, pay bills, buy airtime and access other financial services using their phones.

Further, Paga also has a network of over 24,000 agents who provide cash-in and cash-out services to customers. Paga was founded in 2009 and has over 15 million users who have processed over $3 billion in transactions on the platform.

7. Carbon

Carbon is a fintech digital lending platform that provides instant loans to individuals and small businesses in Nigeria.

Also, this app also offers other services such as bill payments, airtime purchase, credit reports and personal finance management. Carbon was founded in 2016 and has disbursed over $63 million in loans to over 1 million customers.

8. Remita

Remita is a fintech payment solution that enables businesses and government agencies to collect and make payments electronically.

This app also integrates with various banks, card schemes, wallets and other payment channels to facilitate seamless transactions. Remita was founded in 2005 and is used by over 50,000 organizations in Nigeria, including the federal government.

9. Moniepoint

This app is a fintech company that provides software solutions for banks and other financial institutions.

Moniepoint operates, a mobile money platform that enables agents to offer cash withdrawal, deposit, transfer and bill payment services to customers. Moniepoint was founded in 2015 and has raised over $7 million in funding so far.

10. FairMoney

Fairmoney is another fintech digital lending platform that offers quick loans to individuals and small businesses in Nigeria.

Equally, this app also provides savings accounts, bill payments, airtime purchase and insurance products. Fairmoney was founded in 2017 and has raised over $42 million in funding so far.

These are some of the top 10 fintech companies in Nigeria that are making waves in the financial sector. They are not only providing convenient and affordable services to their customers but also creating jobs, generating revenue and contributing to the economic growth of the country.