Share Show more sharing options. The country has, in fact, some of the highest amounts of fintech startups in Africa. Chippercash 16. Paga 11. With its African Development Centre recently launched in Lagos, Microsoft is ranked as the 28th best company to work for in Nigeria. Remita 5. Paystack 20. 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. Trove 13. Team Apt 10. 8, Providence Street, Lekki Phase One, Lagos, Nigeria. In October 2020, another fintech in Nigeria Paystack, was acquired by financial giants Stripe for $200 million in the biggest fintech acquisition in Nigeria. Ten years ago, it was rare to see a Nigerian startup raising $10 million. 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. The Palmpay fintech app was first released in September 2018, according to information on Google Play. Chippercash Fintech Companies In Nigeria That Mostly Deal In Investment 11. 34. Here are top 5 fintech startups that are striving to bridge the financial inclusion gap between the different categories African population. Autochek 2. Lidya 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. Few years ago, not many would have thought, the FinTech segment would be booming in Nigeria. 5 Min Read. Although it is not a Nigerian company, Remita has been widely adopted by many schools, government agencies, and private companies in Nigeria. Fueled by the internet of things, big data, and global digitalization, the industry, in the last decade, has grown by . Fintech stands for financial technology. Some of the groundbreaking collaborations are with Visa, Binance, and Paypal. Opay 15. Seven of them made the top ten list, showcasing Asia's growing dominance on the global fintech scene. Hence, they come under the provisions of the BOFIA. PiggyVest PiggyVest founders PiggyVest customer care phone number PiggyVest email PiggyVest website PiggyVest office address 3. Remita / SystemSpecs 6. By ikenna-nwachukwu. Best Data Saving Browser for iPhone 10. Interswitch Interswitch 4. Visa and Mastercard, both based in the United States, have a combined market capitalization of nearly 478 billion U.S. dollars. 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. Top Nigeria Fintech (Financial Technology) Companies Data sourced from Crunchbase and SemRush. Today, Interswitch and Flutterwave are valued at over $1 billion each, while OPay is valued at $2 billion. Bankly 5. 2. In 2017, 30 Nigerian companies raised $63.3 million between them. Fintech refers to financial technology companies to request to advance and computerize the release and make use of financial services. Interswitch 14. Remote Friendly Other Africa Full-time. Awards 2022. . Wallet Africa 24. Top Nigeria FinTech Startups Data sourced from Crunchbase and SemRush. 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. Banks have been increasingly collaborating with FinTech companies to improve customer experience and enable faster . Top 100 Companies in FinTech . Some fintech players also raise funds through crowdfunding platforms and initial coin offerings. In comparison to previous years, the number of new startups in this field increased. Paystack 4. L-R, Managing Director/CEO Bank of Industry (BOI) Mr. Rasheed Ola Oluwa, Geoup MD Lafarge Nigeria Ltd Mr. Guillaume Roux, Chief Oladipo Olusegun Oshukeye, and the executive Director Small Scale Enterprenues Mr. Waheed Olagunju during the annual Presidential dinner with the Top 100 Businesses Companies in Nigeria. CowryWise 4. TOP 100 BUSINESSES IN NIGERIA. Dangote Group, First Bank, Chevron and Elizade are among the top 100 companies. The industry has advanced rapidly following technological innovations and has made life and managing finance easier. Paga is another company making waves in the FinTech industry. expanding into Kenya and Nigeria with plans for other African countries. A sovereign state with a democratically elected President. 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. Best Fintech Companies In Nigeria: Nigeria is a Federal Republic. Bamboo 12. Screenshot from The Fintech Times. Jumia Nigeria 3: The number of fintech unicorns from 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. 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. 5. 6: Nestl Nigeria FMCG, Multinational A global leader in the nutrition and wellness industry, Nestl is one of Nigeria's largest food companies. In terms of funding, between 2014 and 2019, Nigeria's fintech space raised . A company called Stripe has a revenue of $95 billion. These companies in Nigeria are driving real change for consumers as well as businesses. Banks and Other Financial Institutions Act 2020 and Impact on Fintech Companies in Nigeria. Despite its decline, it still ranks among the top 10 fintechs in the U.S. She believes in the need for a reevaluation of gender-biased training and workplace policies that will allow for more gender inclusivity. Ex-Officio our MANAGEMENT Dr. Babatunde Oghenobruche Obrimah is the Chief Operating Officer of Fintech Association of Nigeria. By valuation, MTN's MoMo is the biggest fintech in Nigeria, as the company is estimated at $6 billion. Nigeria: Paytech: Private: August 2021: Link: Africa: No: No: 150: Pipe: United States: Challenger Bank: Private: . Konga 13. Here is a list of the top 10 best FinTech companies in Nigeria: Flutterwave Paystack PiggyVest Paga Interswitch E-tranzact Carbon Paylater Remita (SystemSpecs) VoguePay Kuda Bank Takeaway The FinTech industry in Nigeria is a promising one and is still booming. Hopefully, both regulators and companies in the industry can work together to make FinTech an even greater force for good than it currently is. It is an African-centred integrated digital payments and commerce company that encourages circulation of money just as the exchange of value among individuals and associations on a convenient and steady bases. 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 2020, Stripe, a global fintech giant, acquired the company, putting it on the list of top companies in Nigeria. Flutterwaves 3. The average transaction value per user in the. Fintech is a booming industry that's on everyone's mind, especially investors.. 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. 13 OPay Crunchbase Website Twitter Facebook Linkedin OPay is a company that enables users to accomplish more with their money by providing smart financial services. 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. 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. Fint 22. Chaka 3. Carbon 9. In the same period, the total number of commercial and Microfinance banks stood at 23 and 940 respectively. Fairmoney 23. MTN, Globacom, Chi Group, Nigerian Breweries, Nigeria Flour Mills, UAC, APN Terminal, Eko Supreme, Mamuda. Here is a list of the top 10 best FinTech companies in Nigeria: Flutterwave Paystack Accelerex PiggyVest Paga Interswitch E-tranzact Carbon Paylater Remita (SystemSpecs) Kuda Bank From 2014 to 2019, the FinTech industry in Nigeria generated more than $600 million in funding. What Is The Number 1 Fintech Company? The following are the list of Top Startups in Nigeria: 1. 1323, Columbus Avenue, San Francisco, CA 94133, USA. In the 2021 Fintech Times report, with respect to fintech, Nigeria's fintech landscape consists of 210 to 250 fintech companies, key stakeholders (banks, telecom companies and the government), enablers and funding partners (i.e universities and . Roqqu Opay E-tran z act. FinTech - Nigeria Nigeria The market's largest segment will be Digital Payments with a total transaction value of US$12,150.00m in 2022. Mines.io 15. 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. Flutterwave 2. Kuda Crunchbase Website Twitter Facebook Linkedin It also includes some notable provisions of the act that impact on fintech companies in Nigeria. The company has a track record of providing expert financial and technology solutions across many sectors. Risevest 14. 5 Leading API FinTech Startups In Nigeria. Opay 16. Riby 23. Flutterwave ranked as one of the top Fintech companies in Nigeria that thrive to help its customer receive, send money, and also pay bills. Nigeria now has the most unicorns of . Here is the list of the top 100 fintech companies. Etranzact Fintech Companies In Nigeria That Mostly Deal In Banking 6. For this reason, it is said to be among the best and leading Fintech in Nigeria. Gradely 9. Twitter; LinkedIn; Email; REGISTER NOW. Bankly 9. Fintech companies globally scooped up $94.7 billion in funding over the first three quarters of 2021. P&G ; P&G is one of the leading consumer goods companies in the country. Interswitch 4. In addition, the company has collaborated with over 40 banks across nations in Africa and successfully processed many transactions. Hotels 11. Fintech accounted for only around 1.25 percent of retail banking revenues in 2019. Osemeikhian & Sons Engr. 1. Piggy Vest 8. Kuda Bank 10. Dollars in millions. Trove App 12. Lifebank 14. Eyowo 21. Bamboo 12. Author. The company was formerly Agip Oil. Flutterwave 2. The platform connects borrowers to lenders and guarantees borrowers' prompt payback. Renmoney 8. CocaCola; Known for the popular Coca-Cola drink, Coca Cola Nigeria is one of the top brands in the country. Top 100 fintech companies FinTech firms are new financial concepts that have arisen in the last decade, allowing customers to have greater control over their financial results. Mono (YC W21) Crunchbase Website Twitter Facebook Linkedin This covers to the Banks and Other Financial Institution Act (2020) which repealed the extant BOFIA 1991 (as amended). Risevest 11. 35. Piggyvest 7. Now the country's fintech unicorns are becoming just as valuable as its banks. E-tranzact 12. 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. 6. Statista reports that, in 2021, 144 fintech startups existed in Nigeria. Close extra sharing options. Overwood Capital 18. Well today we'll be looking at the top 10 Fintech Companies in Nigeria. They have a store that can be a mini-website for business owners. Along with two other Nigerian businesses, it has been included among the top 250 FinTech firms worldwide. List of Top Fintech Companies in Nigeria 2021 1. Flutterwave 6. Top Nigeria Fintech Startups Data sourced from Crunchbase and SemRush. Paystack 3. PZ Cussons; PZ is one of the major consumer companies in . Recommended: Countries with the highest number of billionaires. Central Bank of Nigeria (CBN) Act 2017. Paga. 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. 12 And while fintech investments in Nigeria grew to approximately $460 million in 2019, the majority of which was from external investors, this was only a small fraction of the $36 billion invested in fintech globally. According to the Nigerian Startup Funding Report by Techpoint, Nigerian startups raised $17.6 million in Q1 2019, 8.5% higher than they did in Q1 2018. 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. 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. Bamboo 13. Why choose Eqvista to manage your company's equity and shares? by Fintech News Hong Kong November 8, 2019. 2013 Rank 2012 Rank Company Location Ownership Calender Year 2012 Revenue % FS; Total Piggyvest 3. In another report by The Fintech Times, the number is estimated to be 200+. But going by customer base alone, Paga is the largest mobile payments firm in Nigeria with 17 million users. . Interswitch: Interswitch is a payment processing company situated in Lagos Nigeria. TeamApt 7. Interswitch. She launched an entrepreneur support organization called Endeavour. Eloho is another Nigerian woman in tech who hopes to encourage women to explore opportunities in the FinTech space. In this article, we rank Nigerian fintech companies based on their current valuation and number of users. 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