In this article, we rank Nigerian fintech companies based on their current valuation and number of users. 13 Top Nigeria FinTech Startups Data sourced from Crunchbase and SemRush. In the same period, the total number of commercial and Microfinance banks stood at 23 and 940 respectively. Founded in 2002, Interswitch is one of the oldest fintech companies in Nigeria. 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. Fint 22. Saipem Nigeria; Saipem is a subsidiary of the Italian energy company. Credpal 19. Paga 19. The growth of FinTech in Nigeria has caught the attention of the government. Fintech Companies In Nigeria That Mostly Deal On Payments 1. The future of Nigeria's FinTech ecosystem is very bright. The average transaction value per user in the. A company called Stripe has a revenue of $95 billion. According to the survey, funding for African fintech companies increased by 894 percent year over year in 2021, ranking second in the Middle East and Africa area. The industry has advanced rapidly following technological innovations and has made life and managing finance easier. The Palmpay fintech app was first released in September 2018, according to information on Google Play. 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. Trove 13. 1323, Columbus Avenue, San Francisco, CA 94133, USA. Nigeria: Paytech: Private: August 2021: Link: Africa: No: No: 150: Pipe: United States: Challenger Bank: Private: . 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. Team Apt 10. Visa and Mastercard, both based in the United States, have a combined market capitalization of nearly 478 billion U.S. dollars. The number of Nigerian start-ups securing investment increased by more than 90% in 2018 and total funding jumped by 50% (connectingafrica.com). TOP 100 BUSINESSES IN NIGERIA. Carbon Carbon Founders Flying Doctors Nigeria 7. 10th March 2022. Osemeikhian & Sons Engr. Renmoney 8. In 2017, 30 Nigerian companies raised $63.3 million between them. SA's a FinTech Startup Peach Payments Expands to Kenya, Nigeria. E-tran z act. Risevest 11. 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. 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). FinTech companies function as financial institutions. Top fintech companies in Nigeria and their details 1. 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. TeamApt 7. Some fintech players also raise funds through crowdfunding platforms and initial coin offerings. 34. E-tranzact 12. Well today we'll be looking at the top 10 Fintech Companies in Nigeria. Paga. Fintech Associates Limited (Fintech) is a financial and technology solutions service provider that promotes financial technology solutions in collaboration with partners, and delivers optimization technologies across service platforms. Screenshot from The Fintech Times. She believes in the need for a reevaluation of gender-biased training and workplace policies that will allow for more gender inclusivity. Chippercash Fintech Companies In Nigeria That Mostly Deal In Investment 11. Dollars in millions. Top 100 Companies in FinTech . Lifebank 14. Banks have been increasingly collaborating with FinTech companies to improve customer experience and enable faster . Risevest 14. Interswitch Interswitch is ranked the biggest and best fintech company in Nigeria. Mono (YC W21) Crunchbase Website Twitter Facebook Linkedin Hence, they come under the provisions of the BOFIA. P&G ; P&G is one of the leading consumer goods companies in the country. Fintech refers to financial technology companies to request to advance and computerize the release and make use of financial services. Flutterwave 2. Chipper Cash 9. 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. 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. 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 Q3 2020, the company processed $1,4B which is more than a threefold growth since . Interswitch 14. This is an increase from $35 billion last year and a valuation of $95 billion. V bank by VFD 20. 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. Ex-Officio our MANAGEMENT Dr. Babatunde Oghenobruche Obrimah is the Chief Operating Officer of Fintech Association of Nigeria. She gained her independence in 1960 and became a full blown Republic in 1963. OPay claimed to have 5 million users and process over 60% of all mobile money transactions in Nigeria. Alat By WEMA BANK 13. Etranzact Fintech Companies In Nigeria That Mostly Deal In Banking 6. In no specific order, they are; Leading Fintech Companies 1. 35. Carbon 9. Remita 6. Nigeria now has the most unicorns of . Fueled by the internet of things, big data, and global digitalization, the industry, in the last decade, has grown by . Okra, Inc. Crunchbase Website Twitter Facebook Linkedin Okra is the Open finance infrastructure that enables developers & businesses build personalised digital products/services. Haulr 10. The following are the list of Top Startups in Nigeria: 1. 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.. 1. Hopefully, both regulators and companies in the industry can work together to make FinTech an even greater force for good than it currently is. Dangote Group, First Bank, Chevron and Elizade are among the top 100 companies. 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. She launched an entrepreneur support organization called Endeavour. Remita 5. It was founded by Tayo Oviosu in 2009 and is one of Nigeria's top 10 FinTech companies. Best Data Saving Browser for iPhone Remita is the most popular Fintech company in Nigeria. Top cities for startups in Nigeria 2021, by quantity score; . Despite its decline, it still ranks among the top 10 fintechs in the U.S. The company is operational in over five African Countries including; Nigeria, South Africa, Ghana, Kenya and several others. The fintech industry is a crossbreed of two important industries - the financial and technological industries. Flutterwave Offices. Its agencies are now watching the industry more closely, and are keen to enforce existing rules in this space. In addition, the company has collaborated with over 40 banks across nations in Africa and successfully processed many transactions. 10. Interswitch 10. Paga 11. Flutterwaves 3. Number of Fintech companies founded globally 2008-2018, by industry; Technology company IPOs in U.S. 2011 to 2017; . Konga 13. The tech company is leading and has been ever-growing since its launching. 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. 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. Fairmoney 23. Riby 23. Fintechs are utilized to aid companies, business owners, and regulars in good health administer their monetary operations. 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. He is a multi-skilled individual with w Babatunde Obrimah Chief Operating Officer babatunde.obrimah@fintechng.org Seun Folorunso AGM Fintech accounted for only around 1.25 percent of retail banking revenues in 2019. They have a store that can be a mini-website for business owners. 2. Eloho is another Nigerian woman in tech who hopes to encourage women to explore opportunities in the FinTech space. The official updated and live list of the 250 largest Fintech companies by market valuation. Trove App 12. 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. It officially became available to Nigerian users in November 2019. As of 2018, there were over 100 FinTech companies in Nigeria engaging in mobile money, credit, e-payment, and e-collection. FLUTTERWAVE: Flutterwave is one of the best Nigerian fintech company founded in 2016 by Olugbenga Agboola, Iyinoluwa Aboyeji, and Adeleke Adekoya. Recommended: Countries with the highest number of billionaires. FinTech - Nigeria Nigeria The market's largest segment will be Digital Payments with a total transaction value of US$12,150.00m in 2022. In Africa, Nigeria is considered to the third-best country for tech behind South Africa and Kenya. Kuda Bank 10. By ikenna-nwachukwu. 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. Paystack 2. Bankly 9. Share Show more sharing options. Remote Friendly Other Africa Full-time. Awards 2022. . 5. 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. CocaCola; Known for the popular Coca-Cola drink, Coca Cola Nigeria is one of the top brands in the country. PiggyVest PiggyVest founders PiggyVest customer care phone number PiggyVest email PiggyVest website PiggyVest office address 3. Flutterwave ranked as one of the top Fintech companies in Nigeria that thrive to help its customer receive, send money, and also pay bills. Wallet Africa 24. These companies in Nigeria are driving real change for consumers as well as businesses. 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. By valuation, MTN's MoMo is the biggest fintech in Nigeria, as the company is estimated at $6 billion. OPay Crunchbase Website Twitter Facebook Linkedin OPay is a company that enables users to accomplish more with their money by providing smart financial services. In 2020, Stripe, a global fintech giant, acquired the company, putting it on the list of top companies in Nigeria. Mines.io 15. Why choose Eqvista to manage your company's equity and shares? Bankly 5. Remita / SystemSpecs 6. Flutterwave 6. FlutterWave Even if you tossed yourself in a hole since birth, you've most likely found out about Flutterwave. Lidya 8. 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 . Piggy Vest 8. With its African Development Centre recently launched in Lagos, Microsoft is ranked as the 28th best company to work for in Nigeria. Now the country's fintech unicorns are becoming just as valuable as its banks. Central Bank of Nigeria (CBN) Act 2017. Fintech is a booming industry that's on everyone's mind, especially investors.. Chaka 3. MTN, Globacom, Chi Group, Nigerian Breweries, Nigeria Flour Mills, UAC, APN Terminal, Eko Supreme, Mamuda. Opay Kuda Bank 7. For this reason, it is said to be among the best and leading Fintech in Nigeria.