Cardtonic is building a super app for everything gift cards, gadgets, and payments
- Nigeria's gifting industry is projected to grow from $2.1 billion in 2024 to $3 billion by 2028.
- Cardtonic processes around 400,000 gift cards monthly, with a quick turnaround time of about 10 minutes for certain cards.
- The startup has appointed Emmanuel Sohe as CEO and claims to serve over one million users.
Cardtonic's innovative approach to transforming unused gift cards into cash highlights the potential for fintech solutions in addressing local market gaps. However, the sustainability of its business model amidst regulatory uncertainties and competition from better-capitalized firms raises questions about its long-term viability. Further exploration into how Cardtonic can leverage its community engagement for brand loyalty could provide insights into its future success.
