P&G ; P&G is one of the leading consumer goods companies in the country. These companies in Nigeria are driving real change for consumers as well as businesses. Roqqu expanding into Kenya and Nigeria with plans for other African countries. 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. 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. Gradely 9. 35. 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. Rise Vest 24. Some of the groundbreaking collaborations are with Visa, Binance, and Paypal. Lidya 8. Founded in 2002, Interswitch is one of the oldest fintech companies in Nigeria. Its agencies are now watching the industry more closely, and are keen to enforce existing rules in this space. 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. Wallet Africa 24. Best Fintech Companies In Nigeria: Nigeria is a Federal Republic. With its African Development Centre recently launched in Lagos, Microsoft is ranked as the 28th best company to work for in Nigeria. 1. Top Nigeria Fintech Startups Data sourced from Crunchbase and SemRush. 2. Bankly 9. Chime: $25 billion. It is a mobile wallet mainly for depositing, saving money, purchasing prepaid phone credit, paying bills, and making payments to retailers. Now the country's fintech unicorns are becoming just as valuable as its banks. Kuda Bank 7. Close extra sharing options. IRECRUITERS AFRICA 15 days ago. Bamboo 12. 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.. Carbon 9. SA's a FinTech Startup Peach Payments Expands to Kenya, Nigeria. In Africa, Nigeria is considered to the third-best country for tech behind South Africa and Kenya. In October 2020, another fintech in Nigeria Paystack, was acquired by financial giants Stripe for $200 million in the biggest fintech acquisition in Nigeria. 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. In addition, the company has collaborated with over 40 banks across nations in Africa and successfully processed many transactions. Fint 22. Here is the list of the top 100 fintech companies. eTranzact is one of the Fintech companies in . 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. Chippercash 16. Mono (YC W21) Crunchbase Website Twitter Facebook Linkedin Giga Layer 8. Fintech accounted for only around 1.25 percent of retail banking revenues in 2019. With this achievement, Interswitch makes the list of 15 top fintech companies in Nigeria. It was founded by Tayo Oviosu in 2009 and is one of Nigeria's top 10 FinTech companies. With over 200 million in population, Nigeria is still regarded as a third-world country. Etranzact Fintech Companies In Nigeria That Mostly Deal In Banking 6. E-tranzact 12. It also includes some notable provisions of the act that impact on fintech companies in Nigeria. Nigeria has one of the largest populations of fintechs in Africa. Nigeria: Paytech: Private: August 2021: Link: Africa: No: No: 150: Pipe: United States: Challenger Bank: Private: . 5. The industry has advanced rapidly following technological innovations and has made life and managing finance easier. Along with two other Nigerian businesses, it has been included among the top 250 FinTech firms worldwide. Okra, Inc. Crunchbase Website Twitter Facebook Linkedin Okra is the Open finance infrastructure that enables developers & businesses build personalised digital products/services. 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. 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. Interswitch. 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. 3: The number of fintech unicorns from Nigeria. The company has a track record of providing expert financial and technology solutions across many sectors. Risevest 14. The future of Nigeria's FinTech ecosystem is very bright. Paga. FlutterWave Even if you tossed yourself in a hole since birth, you've most likely found out about Flutterwave. Otrac 17. Lifebank 14. Alat By WEMA BANK 13. PiggyVest 21. reQuid 22. 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. Paystack 3. TOP 100 BUSINESSES IN NIGERIA. Best Data Saving Browser for iPhone List of the Top 12 best FinTech companies in Nigeria in 2022 Mintyn Bank Fincra Flutterwave Paystack Accelerex PiggyVest Paga Interswitch Kuda Bank E-tranzact Remita (SystemSpecs) Carbon. In terms of funding, between 2014 and 2019, Nigeria's fintech space raised . The following are the list of Top Startups in Nigeria: 1. In another report by The Fintech Times, the number is estimated to be 200+. The Palmpay fintech app was first released in September 2018, according to information on Google Play. OPay Despite its decline, it still ranks among the top 10 fintechs in the U.S. 1. Flutterwaves 3. 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. Kuda Bank 10. 5. Seven of them made the top ten list, showcasing Asia's growing dominance on the global fintech scene. Currently, Nigeria boasts of more than 200 FinTech companies. Screenshot from The Fintech Times. The country has, in fact, some of the highest amounts of fintech startups in Africa. Statista reports that, in 2021, 144 fintech startups existed in Nigeria. Interswitch 4. Ex-Officio our MANAGEMENT Dr. Babatunde Oghenobruche Obrimah is the Chief Operating Officer of Fintech Association of Nigeria. TeamApt 7. There have some notable deals this year too, with startups Kudi , TeamApt and OneFi all . Top Fintech Masters in 2022 Menu Toggle; The platform connects borrowers to lenders and guarantees borrowers' prompt payback. November 06, 2013, 8:30 a.m. EST . CocaCola; Known for the popular Coca-Cola drink, Coca Cola Nigeria is one of the top brands in the country. 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). Jumia Nigeria Opay 15. Banks and Other Financial Institutions Act 2020 and Impact on Fintech Companies in Nigeria. Value: $25 billion (perhaps a $40 billion IPO) Fairmoney 23. The official updated and live list of the 250 largest Fintech companies by market valuation. Autochek 2. has been assisting small businesses and tech giants like Microsoft and Zoom with online payment since 2011. It officially became available to Nigerian users in November 2019. 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. This covers to the Banks and Other Financial Institution Act (2020) which repealed the extant BOFIA 1991 (as amended). They are, however, not in any particular order. 2. Top Nigeria FinTech Startups Data sourced from Crunchbase and SemRush. Flutterwave 2. #13 Chams Mobile Ltd The company was formerly Agip Oil. Remita is the most popular Fintech company in Nigeria. Dollars in millions. Fueled by the internet of things, big data, and global digitalization, the industry, in the last decade, has grown by . 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. 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. She gained her independence in 1960 and became a full blown Republic in 1963. Cowrywise Crunchbase Website Twitter Facebook Linkedin CowryWise is a FinTech company democratizing access to premium financial services by making these services available to the mass market cheaply. 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. Remita / SystemSpecs 6. Team Apt 10. In this article, we rank Nigerian fintech companies based on their current valuation and number of users. Number of Fintech companies founded globally 2008-2018, by industry; Technology company IPOs in U.S. 2011 to 2017; Ten years ago, it was rare to see a Nigerian startup raising $10 million. Paga. The tech company is leading and has been ever-growing since its launching. 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 . Haulr 10. Remita 5. Nigeria's FinTech space is alive with activity. In region, China was the most . It is one of the best and leading FINTECH companies in Nigeria. Nigeria now has the most unicorns of . Flutterwave 6. A Background to Fintech Companies in Nigeria. Although it is not a Nigerian company, Remita has been widely adopted by many schools, government agencies, and private companies in Nigeria. Renmoney 8. Top Nigeria Fintech (Financial Technology) Companies Data sourced from Crunchbase and SemRush. 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. 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. Banks have been increasingly collaborating with FinTech companies to improve customer experience and enable faster . 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. Kuda Bank 5. Bamboo 12. 8, Providence Street, Lekki Phase One, Lagos, Nigeria. 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. Few years ago, not many would have thought, the FinTech segment would be booming in Nigeria. Overwood Capital 18. She believes in the need for a reevaluation of gender-biased training and workplace policies that will allow for more gender inclusivity. A sovereign state with a democratically elected President. 6: Nestl Nigeria FMCG, Multinational A global leader in the nutrition and wellness industry, Nestl is one of Nigeria's largest food companies. He is a multi-skilled individual with w Babatunde Obrimah Chief Operating Officer babatunde.obrimah@fintechng.org Seun Folorunso AGM Today, Interswitch and Flutterwave are valued at over $1 billion each, while OPay is valued at $2 billion. Twitter; LinkedIn; Email; Show more sharing options. 2. Top cities for startups in Nigeria 2021, by quantity score; . Chippercash Fintech Companies In Nigeria That Mostly Deal In Investment 11. Peach Payments, a FinTech startup that makes customer payments to online merchants seamless and secure, is now processing more than R1-billion in transactions per year and. List of Top Fintech Companies in Nigeria 2021 1. Recommended: Countries with the highest number of billionaires. PZ Cussons; PZ is one of the major consumer companies in . 34 companies from Asia have been named among this year's top 100 global fintech innovators, according to H2 Ventures and KPMG's latest Fintech100 ranking. Fintechs are utilized to aid companies, business owners, and regulars in good health administer their monetary operations. Paystack 20. Dangote Group, First Bank, Chevron and Elizade are among the top 100 companies. 1323, Columbus Avenue, San Francisco, CA 94133, USA. Bamboo 13. Trove 13. Visa and Mastercard, both based in the United States, have a combined market capitalization of nearly 478 billion U.S. dollars. Eden 5. Carbon Carbon Founders Fintech companies globally scooped up $94.7 billion in funding over the first three quarters of 2021. Carbon 10. 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. Interswitch 4. 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. 5 Min Read. 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. Opay Interswitch 14. Mines.io 15. Opay 16. A company called Stripe has a revenue of $95 billion. Currently, Paga has over 17,022,604 customers and 27121 agents across Nigeria. In no specific order, they are; Leading Fintech Companies 1. 2013 Rank 2012 Rank Company Location Ownership Calender Year 2012 Revenue % FS; Total Konga 13. Updated daily for listed companies or ad-hoc for private companies. Eloho is another Nigerian woman in tech who hopes to encourage women to explore opportunities in the FinTech space. 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. Top 100 Companies in FinTech . By valuation, MTN's MoMo is the biggest fintech in Nigeria, as the company is estimated at $6 billion. 6. OPay claimed to have 5 million users and process over 60% of all mobile money transactions in Nigeria. Piggyvest 7. 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. By ikenna-nwachukwu. Why choose Eqvista to manage your company's equity and shares? Risevest 11. 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. 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. Riby 23. 1. E-tran z act. by Fintech News Hong Kong November 8, 2019. Flutterwave ranked as one of the top Fintech companies in Nigeria that thrive to help its customer receive, send money, and also pay bills. The average transaction value per user in the. Fintech Companies In Nigeria That Mostly Deal On Payments 1. . Kuda Crunchbase Website Twitter Facebook Linkedin In Q1 2020, according to the Nigerian Startup Funding Report by Techpoint, Nigerian startups raised $55.37, higher than they did in Q1 2018 and Q1 2019 combined. Paga 17. eTranzact 18. 13 Top 15 Fintech Companies in Nigeria Updated 2022 The following is a list of top 15 fintech companies operating in Nigeria. In the same period, the total number of commercial and Microfinance banks stood at 23 and 940 respectively. Fintech stands for financial technology. 5 Leading API FinTech Startups In Nigeria. Piggyvest 3. Flying Doctors Nigeria 7. In 2020, Stripe, a global fintech giant, acquired the company, putting it on the list of top companies in Nigeria. In 2017, 30 Nigerian companies raised $63.3 million between them. Microsoft. 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. Remita 6. 10th March 2022. FinTech companies function as financial institutions. 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.