Interswitch, the soon-to-be first Africa's tech unicorn, is ranked as the 37th best company to work for in Nigeria, dropping four places from last year. Bankly 9. The average transaction value per user in the. Piggy Vest 8. Risevest 14. Banks and Other Financial Institutions Act 2020 and Impact on Fintech Companies in Nigeria. Here are top 5 fintech startups that are striving to bridge the financial inclusion gap between the different categories African population. But going by customer base alone, Paga is the largest mobile payments firm in Nigeria with 17 million users. 4 Top Fintech companies in Nigeria 4.1 Flutterwave 4.2 Paystack 4.3 Paga 4.4 Piggyvest 4.5 Interswitch 4.6 E-tranzact 4.7 Carbon 4.8 Remita 4.9 Kuda 4.10 Lidya 5 Conclusion History of Fintech in Nigeria Fintech in Nigeria started when banks began to incorporate technology into their systems to promote smooth operations. Eloho is another Nigerian woman in tech who hopes to encourage women to explore opportunities in the FinTech space. These companies in Nigeria are driving real change for consumers as well as businesses. The growth of FinTech in Nigeria has caught the attention of the government. Top Nigeria FinTech Startups Data sourced from Crunchbase and SemRush. Kuda Crunchbase Website Twitter Facebook Linkedin Central Bank of Nigeria (CBN) Act 2017. 5. Some fintech players also raise funds through crowdfunding platforms and initial coin offerings. Nigeria now has the most unicorns of . Renmoney 8. Today, Interswitch and Flutterwave are valued at over $1 billion each, while OPay is valued at $2 billion. Hotels 11. Although it is not a Nigerian company, Remita has been widely adopted by many schools, government agencies, and private companies in Nigeria. by Fintech News Hong Kong November 8, 2019. New solutions are being built, startups are raising millions of investor dollars to power their expansion, and the world is starting to notice the revolution that's unfolding before our eyes. Saipem Nigeria; Saipem is a subsidiary of the Italian energy company. Risevest 11. Remita 6. 13 Etranzact Fintech Companies In Nigeria That Mostly Deal In Banking 6. Opay 15. Fintech Companies In Nigeria That Mostly Deal On Payments 1. In this guide, I will list out top 30 Fintech companies in Nigeria you can leverage their services, become an agent and make a fortune from transactions treated which invariably add to your income line. Fint 22. Trove App 12. 6: Nestl Nigeria FMCG, Multinational A global leader in the nutrition and wellness industry, Nestl is one of Nigeria's largest food companies. A sovereign state with a democratically elected President. The fintech industry is a crossbreed of two important industries - the financial and technological industries. PAYSTACK Founded in 2015 by Ezra Olubi and Shola Akindele, the dynamic duo who after being course-mates in the university went the extra mile and founded the PayStack company which in 2020 they sold for about N72 billion. She gained her independence in 1960 and became a full blown Republic in 1963. Best Data Saving Browser for iPhone Nigeria became the top fintech hotspot in the Middle East and Africa in 2021 as start-ups there received one-third of all fintech funding. Flutterwave Flutterwave is one of the main Fintech companies in Nigeria, and it is not only interested in making online payments easier but also in helping small businesses grow. PZ Cussons; PZ is one of the major consumer companies in . Despite its decline, it still ranks among the top 10 fintechs in the U.S. As a result, it ranks among Nigeria's best Fintech firms. Fintechs are utilized to aid companies, business owners, and regulars in good health administer their monetary operations. Listed below are the FinTech companies in Nigeria: 247Cash.ngis an online platform that facilitates credit facilities in Africa by providing loans for both informal and formal sector of the economy. With its African Development Centre recently launched in Lagos, Microsoft is ranked as the 28th best company to work for in Nigeria. Going by the provision of this Act, FinTech companies in Nigeria must be registered with the Corporate Affairs Commission (CAC) and obtain a valid license from the Central Bank of Nigeria. With over 200 million in population, Nigeria is still regarded as a third-world country. Kuda Bank 5. The largest fintech business in the world, PayPal, with a valuation of over $300 billion, has been omitted from the list in order to make it more educational and less obvious. List of Top Fintech Companies in Nigeria 2021 1. Carbon 9. In region, China was the most . V bank by VFD 20. Interswitch: Interswitch is a payment processing company situated in Lagos Nigeria. Remote Friendly Other Africa Full-time. A Background to Fintech Companies in Nigeria. Though the sector saw a substantial drop in quarterly funding for the first three months of 2022, fintech still experienced record deal activity, according to CB Insights.. Twitter; LinkedIn; Email; REGISTER NOW. Also in 2018, wallet.ng, a Nigerian FinTech company was listed among the Top 100 FinTech companies in the world, in a report published by KPMG and H2 Ventures- the 2018 FinTech 100. Co. Ltd. (Oseco) Info Email Web Phone Lagos 29 Burma Road Nasco House Apapa Lagos Nigeria Naija Xpress Info Email Web Phone Lagos No 10 Coker Road Ilupeju Lagos The following companies did not match exactly but may also be of interest to you. Few years ago, not many would have thought, the FinTech segment would be booming in Nigeria. Otrac 17. Paystack has not fewer than 17,000 commercial clients, including Betway, MTN, IrokoTV, Domino, and Taxify, making it one of the top FinTech businesses in Nigeria. By valuation, MTN's MoMo is the biggest fintech in Nigeria, as the company is estimated at $6 billion. Piggyvest 3. Paga 17. eTranzact 18. Now the country's fintech unicorns are becoming just as valuable as its banks. Kuda Bank 7. Some of the groundbreaking collaborations are with Visa, Binance, and Paypal. Interswitch 4. She launched an entrepreneur support organization called Endeavour. Nigeria has one of the largest populations of fintechs in Africa. Currently, Paga has over 17,022,604 customers and 27121 agents across Nigeria. According to the survey, funding for African fintech companies increased by 894 percent year over year in 2021, ranking second in the Middle East and Africa area. The fintech industry is growing every year, and the market is starting to fill up with financial services providers and early stage fintech startups trying to fulfill customers' needs and shape the future of finance. Carbon Carbon Founders Chime: $25 billion. Fintech companies globally scooped up $94.7 billion in funding over the first three quarters of 2021. With this achievement, Interswitch makes the list of 15 top fintech companies in Nigeria. OPay claimed to have 5 million users and process over 60% of all mobile money transactions in Nigeria. Opay 16. Ex-Officio our MANAGEMENT Dr. Babatunde Oghenobruche Obrimah is the Chief Operating Officer of Fintech Association of Nigeria. Currently, Nigeria boasts of more than 200 FinTech companies. 5 Min Read. Top Nigeria Fintech (Financial Technology) Companies Data sourced from Crunchbase and SemRush. Top Fintech Masters in 2022 Menu Toggle; OPay Crunchbase Website Twitter Facebook Linkedin OPay is a company that enables users to accomplish more with their money by providing smart financial services. 3: The number of fintech unicorns from Nigeria. Eden 5. Paga is a mobile payment company that is crafting an ecosystem to enable people to digitally send and receive money, thus creating simple financial access to everyone. Eyowo 21. Close extra sharing options. Wallet Africa 24. Along with two other Nigerian businesses, it has been included among the top 250 FinTech firms worldwide. Statista reports that, in 2021, 144 fintech startups existed in Nigeria. Giga Layer 8. eTranzact, launched in 2003, is a multi-application, multi-network and multi-channel electronic payment platform that supports every significant network; including AMEX, VISA and MasterCard. Interswitch. Hence, they come under the provisions of the BOFIA. 5. Interswitch Interswitch is ranked the biggest and best fintech company in Nigeria. Bamboo 12. The company is operational in over five African Countries including; Nigeria, South Africa, Ghana, Kenya and several others. Flutterwave 6. CowryWise 4. Lifebank 14. Paga. Paga 19. 10. But a pilot phase was launched in July 2019 after the company secured a mobile money operator licence from the Central Bank of Nigeria (CBN). Piggyvest 7. 10. CocaCola; Known for the popular Coca-Cola drink, Coca Cola Nigeria is one of the top brands in the country. In Africa, Nigeria is considered to the third-best country for tech behind South Africa and Kenya. In addition, the company has collaborated with over 40 banks across nations in Africa and successfully processed many transactions. Nigeria: Paytech: Private: August 2021: Link: Africa: No: No: 150: Pipe: United States: Challenger Bank: Private: . 5 Leading API FinTech Startups In Nigeria. Fintech accounted for only around 1.25 percent of retail banking revenues in 2019. Jumia Nigeria Value: $25 billion (perhaps a $40 billion IPO) PayStack is one of the main Fin-tech companies in Nigeria that enables businesses to complete payments from clients utilizing MasterCard, Visa, and Verve cards anywhere on the planet. It is worthy to note that Flutterwave is amongst the top fintech companies in Nigeria that help enterprises in Africa go global by making the exchange of funds possible in 150+ monetary standards. These news and many more, coupled with the disruption of the Nigerian financial sector by these companies has led many stakeholders invest in these fintech companies. Share Show more sharing options. Flutterwave 2. 1. The Palmpay fintech app was first released in September 2018, according to information on Google Play. 10th March 2022. TOP 100 BUSINESSES IN NIGERIA. Here is the list of the top 100 fintech companies. It has made it easy for users to send and receive money in Nigeria and is one of Nigeria's top 10 FinTech companies in 2022. Chippercash Fintech Companies In Nigeria That Mostly Deal In Investment 11. Fintech Associates Limited (Fintech) is a financial and technology solutions service provider that promotes financial technology solutions in collaboration with partners, and delivers optimization technologies across service platforms. SA's a FinTech Startup Peach Payments Expands to Kenya, Nigeria. Awards 2022. . Hopefully, both regulators and companies in the industry can work together to make FinTech an even greater force for good than it currently is. 2. This is one of the popular fintech companies in Nigeria; Paga is a mobile payment platform that enhances the easy sending and receiving of money in Nigeria. It prides itself in recruiting, developing and retaining a significant portion of its workforce for a large proportion of each individual's career. Autochek 2. Fintech stands for financial technology. Paystack 20. What Is The Number 1 Fintech Company? Author. This is a consumer good, drink, and sweets company owned majorly by Mondelez Nigeria, they produce products like Bournvita, tomtom sweets, eclairs, and other consumable items. The future of Nigeria's FinTech ecosystem is very bright. Top Nigeria Fintech Startups Data sourced from Crunchbase and SemRush. Interswitch 14. Top cities for startups in Nigeria 2021, by quantity score; . Mines.io 15. Paystack 3. Kuda Bank 10. eTranzact is one of the Fintech companies in . Fairmoney 23. Flutterwave Offices. Paystack 4. Flutterwave 2. It also includes some notable provisions of the act that impact on fintech companies in Nigeria. The platform connects borrowers to lenders and guarantees borrowers' prompt payback. Paga. In this article, we rank Nigerian fintech companies based on their current valuation and number of users. Recommended: Countries with the highest number of billionaires. In no specific order, they are; Leading Fintech Companies 1. Below are the top fintech companies in Nigeria in 2021 (1) PayStack PayStack is a fintech payment solution and is undeniably the top fintech company in Nigeria. Fueled by the internet of things, big data, and global digitalization, the industry, in the last decade, has grown by . Founded in 2002, Interswitch is one of the oldest fintech companies in Nigeria. Bamboo 12. FlutterWave Even if you tossed yourself in a hole since birth, you've most likely found out about Flutterwave. #13 Chams Mobile Ltd Chippercash 16. She believes in the need for a reevaluation of gender-biased training and workplace policies that will allow for more gender inclusivity. Bamboo 13. Dollars in millions. Team Apt 10. A company called Stripe has a revenue of $95 billion. Interswitch 4. It is one of the best and leading FINTECH companies in Nigeria. In the same period, the total number of commercial and Microfinance banks stood at 23 and 940 respectively. The following are the list of Top Startups in Nigeria: 1. 2. Mono (YC W21) Crunchbase Website Twitter Facebook Linkedin As of 2018, there were over 100 FinTech companies in Nigeria engaging in mobile money, credit, e-payment, and e-collection. The explosion of fintech companies and startups isn't surprising. FinTech - Nigeria Nigeria The market's largest segment will be Digital Payments with a total transaction value of US$12,150.00m in 2022. Its agencies are now watching the industry more closely, and are keen to enforce existing rules in this space. Top 15 Fintech Companies in Nigeria Updated 2022 The following is a list of top 15 fintech companies operating in Nigeria. By ikenna-nwachukwu. Overwood Capital 18. When it comes to disclosed 2018 deals of over $5-million, five Nigerian startups fintech startups Mines, Flutterwave , Paga, Paystack and Lidya raised close to $50-million, against South Africa's Jumo and Yoco collective over $80-million last year. Fintech companies in Lagos, Nigeria include Sterling Bank, Interswitch, Cowrywise, The Nigerian Stock Exchange, Carbon and 38 other companies. According to a report by Frost and Sullivan, Nigeria's FinTech revenue is expected to reach $543.3 million in 2022 from $153.1 million in 2017. In comparison to previous years, the number of new startups in this field increased. 2. Paga 11. Screenshot from The Fintech Times. The company is an Africa-focused integrated digital payments and commerce company that facilitates the electronic circulation of money as well as the exchange of value between individuals and organizations on a timely and consistent basis. has been assisting small businesses and tech giants like Microsoft and Zoom with online payment since 2011. Rise Vest 24. Job Title: Frontend Engineer - Flutter ( FinTech) Location: Yaba, Lagos Work Structure: Remote Benefits: Base Pay is BTW N300, 000.00 - N400, 000.00 monthly net. In 2017, 30 Nigerian companies raised $63.3 million between them. There have some notable deals this year too, with startups Kudi , TeamApt and OneFi all . Remita is the most popular Fintech company in Nigeria. Well today we'll be looking at the top 10 Fintech Companies in Nigeria. expanding into Kenya and Nigeria with plans for other African countries. It is a mobile wallet mainly for depositing, saving money, purchasing prepaid phone credit, paying bills, and making payments to retailers. This covers to the Banks and Other Financial Institution Act (2020) which repealed the extant BOFIA 1991 (as amended). PiggyVest PiggyVest founders PiggyVest customer care phone number PiggyVest email PiggyVest website PiggyVest office address 3. They are, however, not in any particular order. TeamApt 7. P&G ; P&G is one of the leading consumer goods companies in the country. Paga is another company making waves in the FinTech industry. Flutterwave ranked as one of the top Fintech companies in Nigeria that thrive to help its customer receive, send money, and also pay bills. Sectors fintech (43) Technology (35) platform (17) payments (16) Financial Services (11) Cybersecurity Score F D B A Cybersecurity and other premium data available to enterprise accounts. Nigeria's FinTech space is alive with activity. FLUTTERWAVE: Flutterwave is one of the best Nigerian fintech company founded in 2016 by Olugbenga Agboola, Iyinoluwa Aboyeji, and Adeleke Adekoya. 2013 Rank 2012 Rank Company Location Ownership Calender Year 2012 Revenue % FS; Total Trove 13. Top fintech companies in Nigeria and their details 1. E-tranzact 12. Ten years ago, it was rare to see a Nigerian startup raising $10 million. Credpal 19. Riby 23. Remita / SystemSpecs 6. Lidya 8. Haulr 10. MTN, Globacom, Chi Group, Nigerian Breweries, Nigeria Flour Mills, UAC, APN Terminal, Eko Supreme, Mamuda.
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