A digital bank in Nigeria that offers banking services with no fees and a focus on mobile accessibility.
Nigeria’s fintechs built payments. Now they’re becoming banks.
Paystack acquired Ladder Microfinance Bank in January, marking its entry into the banking sector. Flutterwave secured a national MFB license in April through its acquisition of open banking startup Mono.
Flutterwave promotes 25% of its global workforce in talent retention move
Flutterwave promoted about 25% of its global workforce, offering cost-of-living adjustments and economic relief payments. The company acquired a microfinance banking license in April, enhancing its financial services capabilities.
After unbundling, Nigerian fintechs are building full-stack financial services
Nigerian fintechs initially specialized in single core offerings like payments, cards, and lending to disrupt traditional banks. Leading fintechs such as Moniepoint, Sycamore, FairMoney, and Paystack are now expanding their product suites to include savings, credit, and business banking tools.
Which savings app offers the best interest rates in Nigeria in 2025?
Piggyvest offers a Safelock fixed savings plan with interest rates between 14% to 20% depending on the duration. Cowrywise provides community-driven savings plans with interest rates ranging from 13.27% to 13.85% for various life goals.
20 fintech companies in Nigeria you should know
Paystack, acquired by Stripe in 2020 for $200 million, simplifies online payments for African businesses. Flutterwave, valued at over $3 billion, facilitates cross-border payments across Africa and beyond.
