FINTECH

Top 7 Digital Financial Tech Companies in Nigeria

Published

2 years ago

Top 7 Digital Financial Tech Companies in Nigeria

The Nigerian financial sector has witnessed a tremendous revolution as digital financial technology companies emerge to change how people transact and make financial decisions.

No aspect of the financial sector is left out, as companies are emerging to enhance lending, banking, investing, saving and other financial practices.

This article discusses the top digital financial tech companies in Nigeria.

What are Digital Financial Tech Companies?

Digital Financial Technology (FinTech) companies leverage technology to provide financial services, such as payments, investments, banking, lending, etc., to individuals and other businesses. They streamline these financial processes, making it easy for people to carry out transactions conveniently and in less time.

Top 7 Digital Financial Tech Companies in Nigeria

By offering more accessible, efficient and cost-effective ways of carrying out financial transactions, digital financial tech companies have disrupted the traditional financial services industry. They’ve greatly impacted the way people and businesses manage money, access loans, invest and make financial decisions.

Benefits of Digital Financial Tech Companies in Nigeria

Digital financial tech companies have significantly contributed to Nigeria’s improved financial landscape, enhancing the country’s economic development and promoting financial inclusion. Here are some of the benefits they bring:

Enhanced Financial Inclusion

Before digital financial tech companies emerged in Nigeria, many regions were unbanked and underbanked. You can spot many areas where only one bank serves the entire population, making banking difficult and inaccessible to them.

Financial technology companies have played a crucial role in expanding financial inclusion in Nigeria by providing financial services to the unbanked and underbanked populations.

With the introduction of mobile banking, digital payment platforms, POS systems, etc., people in remote areas now have access to financial services as much as those in the cities.

Lower Transaction Costs

Another benefit of digital financial tech companies in Nigeria is the low transaction costs they offer people and businesses. Most of these companies charge less or even nothing for their financial services than traditional banks, encouraging Nigerians to embrace digital banking.

Convenience and Accessibility

People can now make transfers, check their account balances, block ATM cards to prevent fraud, access loans to support their businesses and do much more from the comfort of their homes.

This is an important benefit of digital financial tech companies, as it enables Nigerians to invest their time in more productive ventures.

Improved Speed of Transactions

Digital financial tech companies have greatly improved the speed of financial transactions, with payments and transfers being processed in real-time now.

Improved Financial Literacy

This is one of the greatest benefits of digital fintech companies. Through various means, such as blogging, events, and their services, they educate Nigerians on managing their finances, carrying out online transactions, and making informed financial decisions.

Job Creation

Digital financial tech companies have greatly reduced the unemployment rate in Nigeria by directly or indirectly creating jobs for the masses. People now run POS terminal businesses and make as much as those in corporate offices.

There are many other benefits these fintech companies provide in Nigeria. But what’s more fascinating is the rate at which these companies increase, as new companies emerge every year.

Top 7 Digital Financial Tech Companies in Nigeria

Here are the top 7 digital financial tech companies in Nigeria:

1. Flutterwave

Flutterwave is a digital financial tech company that provides payment solutions for individuals and businesses in Africa and other parts of the world. It was founded in 2016 by Olugbenga Agboola and Iyinoluwa Aboyeji.

Flutterwave is focused on helping businesses accept payments and easily make financial transactions. With over 20 million users and an active presence in over 30 countries, Flutterwave is no doubt one of the top fintech companies in Nigeria.

2. Paystack

Paystack is a technology company focused on solving payment problems for ambitious businesses in Africa. It was founded in 2015 by two bright Nigerians, Shola Akinlade and Ezra Olubi and acquired by the Irish-American financial services company, Stripe.

Paystack has been crucial to the growth of businesses in Africa, as it makes it easy for businesses to accept secure payments from multiple local and global payment channels.

The company is used by over 80,000 businesses in Nigeria and has a strong presence in a few African countries, with Kenya being the latest on the list.

3. Interswitch

Nicknamed “the Gateway to Africa’s Payment Ecosystem,” Interswitch has helped revolutionize the Nigerian digital commerce space. Its focus on providing secure and innovative payment solutions to facilitate electronic transactions in Nigeria and beyond and its success in doing so have cemented its place as one of the top digital financial tech companies in Nigeria.

Since Interswitch was founded in 2002 by Mitchell Elegbe, it has had over 8,000 billers aggregated on the Quickteller platform, 41,000 Quickteller Paypoint agents enabled across Nigeria, and over 190,000 active businesses transacting with Quickteller daily.

4. Chipper Cash

Chipper Cash is one of the few fintech companies that provides mobile-based, cross-border payments and money transfer services in Nigeria. It was founded in 2018 by Hem Serunjogi and Maijid Moujaled, with the aim of making it easier for Africans to send and receive money across borders and have access to other financial services, such as investment in crypto and global stocks.

Chipper Cash currently has over 5 million users and is rated as one of the best virtual banks in Africa.

5. Bamboo

Bamboo is another top fintech company in Nigeria. It enables Nigerians to invest in foreign stocks, ETFs, and other assets from the comfort of their homes.

Founded in 2019 by Richmond Bassey and Yanmo Omorogbe, Bamboo has become the go-to platform for foreign asset investment. It has achieved tremendous success in bridging the gap between investors in Africa and international investment opportunities, which were less accessible due to regulatory and logistical challenges.

With over 500,000 registered users, Bamboo is fulfilling its promise of helping Africans build wealth from the ground up.

6. Piggyvest

Piggyvest is a Nigerian fintech company that offers savings, investments, and other financial services to individuals. It was founded in 2016 by Odunayo Eweniyi, Somto Ifezue, and Joshua Chibueze to help people better manage and grow their finances.

The company currently has over 4 million users, with most people using it as their main savings platform.

7. FairMoney

FairMoney is one of the top financial tech companies in Nigeria, focused on the lending industry. It also offers banking services such as savings, investments, bill payments, and more.

FairMoney was founded in 2017 by Laurin Hainy and Matthieu Gendreau and has since gained over 5 million users nationwide. With over 10 million app downloads and 10,000 daily loan disbursements, FairMoney is one of Nigeria’s top lending platforms.

Conclusion

Technology has revolutionized the way everything is done, and the financial sector is one of the major beneficiaries. The digital financial tech companies in Nigeria have equipped Nigerians with the best tools to manage their money, invest, access loans, make informed financial decisions, and do much more. We also have another company called Korapay https://korahq.com/ .

Hopefully, this article has introduced you to some top digital financial tech companies in the country that you can leverage to better your financial life.

More from my site

BANKING

Network International appointed as Payment Processing Partner by MTN Group Fintech

Published

2 months ago

Christopher

Network International appointed as Payment Processing Partner by MTN Group Fintech

Network International (Network) (www.Network.ae), a leading enabler of digital commerce across the Middle East and Africa (MEA), has been appointed as a Payment Processor – Issuing partner for MTN Group Fintech, Africa’s leading mobile financial services provider. This partnership marks a significant extension of Network’s portfolio of issuer processing collaborations throughout the African continent.

Network International appointed as Payment Processing Partner by MTN Group Fintech

With a footprint spanning over 50 countries and serving over 250 financial institutions, Network International brings its expertise to this partnership which will enhance MTN Fintech’s cutting-edge mobile services and provide even greater value to stakeholders and customers across Africa.

The partnership will focus on rolling out card issuance products across key MTN Fintech markets, starting with Rwanda which is already operational. Soon Uganda, Ivory Coast, and Nigeria will also be covered under this collaboration. Network International will provide a comprehensive range of services, including transaction processing, card management and online fraud prevention. MTN Fintech users will benefit from a seamless experience accessing both traditional mobile services and innovative digital payment solutions.

Dr. Reda Helal, Group Managing Director – Processing, Africa and Co-Head Group Processing at Network International commented: “Our collaboration with MTN Group Fintech marks a major milestone for our outsourced payments services in Africa. It demonstrates our ability to successfully serve Mobile Network Operators (MNOs) via our fully-fledged processing solutions and our continued dedication and commitment to the African region. We are excited to support MTN Group Fintech’s growth strategy, and its business development plans across the continent.”

Cedric N’guessan, Executive for Payment and E-commerce at MTN Group Fintech added, “This collaboration with Network International is pivotal in enhancing financial inclusion across Africa and beyond. It enables our customers to actively engage in the global economy, aligning perfectly with our strategic goals alongside Mastercard to broaden access to digital financial services across the continent.” Read More (https://apo-opa.co/43aKuII)

MTN Group provides voice, data, fintech, enterprise wholesale and API services to more than 288 million customers in 14 African markets.

Distributed by APO Group on behalf of Network International.

About MTN Group Fintech:
MTN Fintech, the platform business of MTN Group, is dedicated to revolutionising global financial services through innovative digital technology solutions. Leveraging MTN’s extensive reach and expertise in telecommunications, MTN Fintech is committed to advancing financial inclusion for all and empowering communities in Africa. With a primary focus on pioneering mobile financial services, digital payments, e-commerce, short-term insurance, and remittance capabilities, MTN Fintech strives to establish seamless, accessible, and secure financial ecosystems that shape the future of digital finance.

About Network International:
Network International is the Middle East and Africa’s largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have 2,000+ employees based in our markets serving over 250 financial institutions and 130,000+ merchants.

BANKING

Prosperavest ESG LTD Launches “eNsc” – A Naira-Pegged Stablecoin on Lisk 2.0 Blockchain, Enabling Tokenized Real-World Asset Investments

Published

2 months ago

Christopher

Prosperavest ESG LTD Launches eNsc – A Naira-Pegged Stablecoin on Lisk 2.0 Blockchain, Enabling Tokenized Real-World Asset Investments

Prosperavest ESG LTD, is thrilled to announce the launch of eNsc, a Nigerian Naira-referenced stablecoin pegged 1:1 to the Nigerian Naira. Built on the high-speed Lisk 2.0 Blockchain, eNsc combines monetary stability with blockchain innovation, allowing global investors to securely access tokenized high-yield opportunities like Nigerian Treasury Bills while adhering to regulatory standards.

Prosperavest ESG LTD Launches eNsc – A Naira-Pegged Stablecoin on Lisk 2.0 Blockchain, Enabling Tokenized Real-World Asset Investments

Bridging Stability and Innovation

eNsc merges monetary stability with blockchain efficiency, operating within Nigeria’s robust regulatory framework led by the Securities and Exchange Commission (SEC) Nigeria. The SEC has prioritized creating a safe, transparent environment for blockchain innovation, exemplified by its Virtual Assets Regulatory Framework. These guidelines ensure market integrity, investor protection, and alignment with global standards—principles at the core of Prosperavest ESG’s operations.

“Our vision is to bring the Naira on-chain and democratize access to low-risk, high-return opportunities while upholding rigorous regulatory compliance. eNsc is more than a stablecoin—it’s a gateway to financial inclusion, blending the trust of traditional finance with the agility of blockchain.”— RaheemAnikulapo Ibrahim, CEO, Prosperavest ESG LTD

Prosperavest ESG LTD Launches “eNsc” – A Naira-Pegged Stablecoin on Lisk 2.0 Blockchain, Enabling Tokenized Real-World

Key Features of eNsc

1:1 Naira Peg: Backed by reserves held in regulated institutions, eNsc ensures stability and direct convertibility with the Nigerian Naira.
Lisk 2.0 Blockchain: Fast transactions, low fees, and interoperability with decentralized applications (dApps) ensure seamless integration into digital ecosystems.
Compliance Assurance: Built with robust AML protocols, transparent reserve audits, and adherence to Nigerian Securities and Exchange Commission’s (SEC) regulations.
Exclusive Cashback Rewards: For a limited time, users who convert a minimum of $50 via the eNsc Converter at app.prosperavest.com will receive cashback rewards, rewarding early adopters of this groundbreaking stablecoin.

Unlocking Global Investment Opportunities

By tokenizing Nigerian Treasury Bills, eNsc removes geographic and financial barriers, enabling fractional ownership and instant cross-border settlements. This innovation aligns with Nigeria’s growing prominence in Africa’s digital economy, offering investors exposure to stable, yield-generating assets.

A Commitment to Safe, Transparent Finance

SEC Nigeria: Championing Safe Innovation

The SEC has been instrumental in fostering a safe, transparent, and innovation-friendly regulatory environment for blockchain and virtual assets, implementing robust frameworks such as the Virtual Assets Regulatory Framework. Their proactive approach ensures investor protection, market integrity, and alignment with global best practices—a commitment Prosperavest ESG proudly upholds.

“Our compliance and cooperation with regulators is non-negotiable,” added RaheemAnikulapo Ibrahim. “Trust is the cornerstone of financial innovation every aspect of eNsc—from its technical infrastructure to reserve management—is designed to exceed SEC standards, fostering trust in Nigeria’s digital future

Join the Future of Asset Tokenization

eNsc is now live on the Lisk 2.0 Blockchain. Institutions, developers, and investors are invited to:

Explore eNsc at https://prosperavest.com .

Participate in the cashback reward program by converting a minimum of $50 on the eNsc Converter: app.prosperavest.com.

Disclaimer

This announcement is for informational purposes only and not financial or legal advice. Digital asset investments carry risks, including volatility and potential loss. Investors are responsible for their decisions. ProsperaVest ESG Ltd remains committed to SEC compliance and will provide updates on approval status.

Bitcoin

IUX Wins Best Trading Technology Provider 2025 Award at BrokersView, Setting New Standards with Next-Gen Trade

Published

3 months ago

Christopher

IUX Wins Best Trading Technology Provider 2025 Award at BrokersView, Setting New Standards with Next-Gen Trade

IUX, a globally recognized online CFD trading service provider, has been honored with the prestigious “Best Trading Technology Provider” award at the 2025 BrokersView Award for Brokers with Outstanding Assessment. This recognition solidifies IUX’s standing as a leader in the online CFD trading industry, highlighting its dedication to innovation, user-centric design, and cutting-edge technology—exemplified through its groundbreaking Next-Gen Trade initiative.

IUX Wins Best Trading Technology Provider 2025 Award at BrokersView, Setting New Standards with Next-Gen Trade

About the BrokersView Awards

The BrokersView Awards are among the most respected in the trading industry, recognizing brokers that demonstrate outstanding performance, transparency, and technological innovation. The Best Trading Technology Provider award is presented to brokers that go beyond industry standards to offer exceptional trading platforms with advanced features, robust execution speeds, and user-friendly interfaces.

IUX’s win reflects its relentless commitment to providing traders with superior trading tools and an optimized platform, setting a benchmark for excellence in the CFD trading sector.

“We are deeply honored to receive this recognition from BrokersView,” said an IUX spokesperson. “This award highlights the hard work and dedication of our team in creating a platform that empowers traders globally. We will continue to drive innovation and deliver exceptional value to our users.”

Next-Gen Trade: Powering IUX’s Award-Winning Technology

A significant factor in IUX’s recent success has been the launch of Next-Gen Trade, a comprehensive initiative aimed at redefining the trading experience. This customer-focused project delivers cutting-edge technology and empowers traders with tools designed for speed, stability, and precision.

Core Features of Next-Gen Trade:

Ultra-Fast Execution: Trades executed in as fast as 30 milliseconds, giving traders an edge in volatile markets.
Consistent Spreads: Advanced spread management technology ensures stable spreads, even during major market events.
Customer-Oriented Features: Tools and resources tailored to help traders navigate complex markets with ease.

Next-Gen Trade exemplifies IUX’s commitment to enhancing the trading experience, directly contributing to the platform’s recognition as Best Trading Technology Provider.

Looking Ahead

The Best Trading Technology Provider 2025 award represents a significant milestone for IUX but is just one step in the company’s journey. IUX remains committed to continuous innovation, focusing on enhancing the trading experience for its global user base through further advancements in initiatives like Next-Gen Trade.

Discover More

Learn about IUX’s advanced trading solutions: Visit IUX

About IUX

IUX, operated by IUX Markets Limited, is a leading online CFD trading broker —IUX is committed to providing a secure, transparent, and user-focused trading experience to traders worldwide.

Disclaimer

Trading CFDs involves significant risk of loss and is not suitable for all investors. Ensure you fully understand the risks involved before trading.