List of Top 12 Fintech Companies In Nigeria 2021
We bring to you the latest list of the top fintech companies in Nigeria andtheir competitive features, with financial gaps they’re filling.Few decades ago, no one would have ever thought that fin-tech solutions willbe widely accepted. For example, Nigeria today is home to over 250 fintechsolutions.Yes, key stakeholders (banks, telecom companies, and the government),enablers, and funding partners (i.e., universities and research institutions,investors, incubators, technology, and consumers) have made this possible.According to Frost and Sullivan, Nigeria’s fintech revenue is expected toreach $543.3 million in 2022 from $153.1 million in 2017.This is so because transactions are increasingly shifting towards mobile withthe growing popularity of mobile technology among the population, especiallythe unbanked.
List of Top Fintech Companies In Nigeria 2021
List of Fintech Companies In Nigeria 2021 — Rank| Name
How to Start a Fintech Company In Nigeria
To start a fin-tech company in Nigeria, here are quick steps to guide youbelow:
Top Fintech Companies In Nigeria (summary)
Note that the Fintech companies in this article are only a little among allFinTech companies in Nigeria grabbing the opportunity given by technologicaladvances in the financial service industry.Technology advancement in Nigeria today has made a lot of things possible.With the introduction of online banking, fin-tech solutions are on the riseand making life easier.Did you find this post informative and helpful? I’d love to have yourcomments, questions, opinions, in the box provided below.Even More Topics:List of Top 12 Fintech Companies In Nigeria 2021We bring to you the latest list of the top fintech companies in Nigeria andtheir competitive features, with financial gaps they’re filling.Few decades ago, no one would have ever thought that fin-tech solutions willbe widely accepted. For example, Nigeria today is home to over 250 fintechsolutions.Yes, key stakeholders (banks, telecom companies, and the government),enablers, and funding partners (i.e., universities and research institutions,investors, incubators, technology, and consumers) have made this possible.According to Frost and Sullivan, Nigeria’s fintech revenue is expected toreach $543.3 million in 2022 from $153.1 million in 2017.This is so because transactions are increasingly shifting towards mobile withthe growing popularity of mobile technology among the population, especiallythe unbanked.
List of Top Fintech Companies In Nigeria 2021
List of Fintech Companies In Nigeria 2021 — Rank| Name
How to Start a Fintech Company In Nigeria
To start a fin-tech company in Nigeria, here are quick steps to guide youbelow:
Top Fintech Companies In Nigeria (summary)
Note that the Fintech companies in this article are only a little among allFinTech companies in Nigeria grabbing the opportunity given by technologicaladvances in the financial service industry.Technology advancement in Nigeria today has made a lot of things possible.With the introduction of online banking, fin-tech solutions are on the riseand making life easier.Did you find this post informative and helpful? I’d love to have yourcomments, questions, opinions, in the box provided below.Even More Topics:TOP 30 FINTECH STARTUPS IN SINGAPORE
Top FinTech Startups in Money Transfer
CoinPipFounded 2014 |CoinPip is a Singapore-based payments company that leverages Bitcoin to makeit easier and faster to pay remote workers. Payments are sent directly intothe recipient’s bank account so they don’t have to actually touch Bitcoin.Total Equity Funding: $100k in 1 Round from 1 Investor Most Recent Funding: $100k Seed on November, 2014Fastacash Pte. Ltd.Founded 2012 |fastacash™ provides a global social payments platform which allows users totransfer value (money, airtime, other tokens of value, etc.) along withdigital content (photos, videos, audio, messages, etc.) through socialnetworks and messaging platforms. The company has developed a patent pendinglink generation technology that enables the value transfer with a secure link.Total Equity Funding: $23.5M in 4 Rounds from 7 Investors Most Recent Funding: $15M Series B on July 14, 2015TOAST MEFounded 2015 |TOAST is a Peer 2 Peer money transfer application that allows Filipinos inSingapore, Hong Kong to remit money back home directly from a smartphonewithout the need to utilize existing banking infrastructure or queue up at aMoney Transfer Shop. They make themselves unique in terms of the mostefficient price offerings.Total Equity Funding: $865.93k in 2 Rounds from 4 Investors Most Recent Funding: $850k Seed on October 9, 2015
Top FinTech Startups in Personal Finance Management/Comparision
Money SmartFounded 2009 |The MoneySmart, founded by the entrepreneur Vinod Nair, specializes in themanagement tool of personal finances. They provide simplified financial adviceto customers, limiting the confusing jargon and helping them decide whichfinancial service is suitable for them. The startup allows users to ask foradvice, compare prices and features for products like loans, insurance, andcredit cards, and apply for them through the site.Total Equity Funding: $2M in 1 Round from 4 Investors Most Recent Funding: $2M Series A on October 6, 2015MoneythorLaunched 2013 |Moneythor enables financial institutions to deliver improved functionality andexperience to their customers across their digital channels. It provides a white-labelled solution to help financial institutions delivercontextual recommendations & insights to their customers within their existingonline & mobile banking applications.TradeHeroFounded 2012 |Founded in 2012 by app developer MyHero, TradeHero’s mission is to provide aplatform for traders to monetize their investment expertise, by democratizingtrading in a social and gamified mobile app. TradeHero is a free stock marketsimulation app, which draws real-world data from stock exchanges to create anun-rivalled global social investment network. Users can compete with friendsfrom their social networks, or on the global leaderboards with users fromacross the world. The app brings novice and knowledgeable traders together,allowing novice traders to subscribe for stock tips via push notifications,and top traders to earn subscription fees from followers.Total Equity Funding: $10.46M in 2 Rounds from 4 Investors Most Recent Funding: $10M Series A on September 26, 2013ShereitFounded 2015 |A Social Trading Network changes the way people invest in stocks. It allowsthem to interact, through live trades or messages with other traders aroundthe world in a real-time and transparent way. It is a social network designedand built specifically for stock trading. Investing has always been social. For hundreds of years investors have alwaysgotten their trading advice from Friends and Family, people they trust.Investors have always researched what the Best Performers are doing, peoplethey look up to. Some non-professional investors even follow their friends’strategies and while others go one step further and even copy the trades.Social Trading has always been with us and ShereIt uses the concept to makeshare trading easy for everyone.ShereIt is a white-label social trading network for stock brokerage firms. Theplatform offers:• Traders, inspiration to share trades and ideas globally with other traders,along with integrated trade copy and analytics tools to catapult tradingreturns.• Brokerage firms, increased deal flow, accelerated conversion ratios andbetter customer insights.Total Equity Funding: $15.81k in 1 Round from 2 Investors Most Recent Funding: $15.81k Seed on March 14, 2015WeInvestFounded 2013 |WeInvest is the first digital personal-finance assistant for AffluentInvestors in Asia. Singaporean startup WeInvest provides individual investorswith tools to discover and manage their investments. The platform curatesinvestment opportunities across real estate, mutual funds and deposits,provides search and compare tools, and presents investment data in an easy-to-understand format.
Top FinTech Startups in InsurTech
FitSenseFounded 2015 |The most effective, convenient, and reliable way to save on any insurancepremium. Fitsense is a data analytics platform working with insurance companies toreduce insurance premiums for anyone with a smartphone or wearable.Fitsense is developing a data analytics platform to help health & lifeinsurance companies personalize insurance by using wearable data.Total Equity Funding: $16.29k in 1 Round from 2 Investors Most Recent Funding: $16.29k Seed on December 8, 2015PolicyPalFounded 2016 |The PolicyPal provides a simple digital overview of buying and managinginsurance for everyone. The platform will allow users to manage their policiesin one place and understand where they have duplicate or missing coverage. Itwill also let them find the policies that are the most suitable for theirneedsTotal Equity Funding: $18.42k in 1 Round from 2 Investors Most Recent Funding: $18.42k Seed on April 18, 2016
Top FinTech Startups in Payment
2C2PFounded 2003 |2C2P (Cash and Card Payment Processor) is a leading Southeast Asiancomprehensive payment services provider, transforming millions of everydaypayments across Asia. The company offers a number of services tailored for theneeds of ecommerce and mcommerce merchants, banks and financial institutionsof any size.Total Equity Funding: $10M in 3 Rounds from 3 Investors Most Recent Funding: $7M Series C on April 27, 2015CodapayFounded 2011 |Codapay is an alternative payment gateway in Southeast Asia. Codapay enablemerchants to accept payments in Indonesia, Malaysia, Philippines, Thailand,and Singapore using payment channels that every consumer can use, even if theydon’t have a credit or debit card: direct carrier billing, bank transfers,cash payments at convenience stores, and physical vouchers. By making a singletechnical connection and commercial agreement with Coda, our merchants(companies like Baidu, Gumi, and Garena) significantly increase their revenuesin the rapidly growing markets that we serve. Similarly, by appointing Coda asa merchant aggregator, our payment channel providers (companies like SingTel,Indosat, and Maxis) generate significant net-new transaction volume.Total Equity Funding: $3.2M in 4 Rounds from 7 Investors Most Recent Funding: $2.3M Series A on December 2, 2013Fusion Payments Singapore Pte. Ltd.Founded 2001 |Fusion Payments (Formerly InterAcct Solutions) provides a range of ubiquitoushandset recharge, mobile banking and security solutions with partner mobilenetwork operators and banks in the Asian region.Whilst starting out life in 2001 as a dedicated USSD solutions provider, theportfolio has expanded to include all standard bearers. The mPayment andmRecharge hub / switch now provides, in addition to USSD, an open secureRESTful API for WEB, WAP and rich/native clients. This allows customers tosafely expose their core transactional (bank, credit card or wallet) andrecharge systems.GoSwiffFounded 2010 |GoSwiff is a leading provider of mobile payment platforms and marketingsolutions. They offer an integrated mobile commerce platform for online,mobile and in-store payment acceptance systems – and are helping to meet thegrowing demand for digital payments in both emerging and developed markets.Incorporated in 2010, GoSwiff is headquartered in Singapore and currently hasa presence in 25 countries around the world.KashmiFounded 2014 |Kashmi is a brand new mobile payments application that allows young people toexchange money with their friends in a simple and fun way, for free. Sendingmoney is as easy as sending a text by phone. Pay on-the-go, share experiencesand remind friends about dues.Total Equity Funding: $555.87k in 3 Rounds from 6 Investors Most Recent Funding: $509.97k Seed on August 1, 2015MatchMove Pay Pte Ltd.Founded 2009 |MatchMove Pay is Singapore’s fastest growing finance technology company,providing innovative enterprise solutions to help businesses increase revenue,user engagement and loyalty through the strategic use of our customizablecloud-based PCI-DSS compliant platforms.Source: Crunchbase and the companies’ sites.30 Top Boston Fintech Companies You Should Know 2021With its impressive spread of notable financial institutions such as FidelityInvestments and State Street Corp., along with numerous hedge funds andprivate equity firms, it’s no surprise that Boston has a robust financialindustry. But as the city continues to grow its reputation as a hub for techand innovation, Boston is also becoming known for its impressive fintechspace.Collaborating with the legacy financial sector, local entrepreneurs arecreating new ways for people to invest, pay, save, and more. Many of thesefintech startups are proving to be game-changers for areas like personalfinance, cryptocurrency, investment management, trading, and lending. Belowwe’ve pulled out 30 fintech leaders, in addition to startups to keep an eyeon.
Top Boston Fintech Companies to Know
* Domeyard LP * Flywire * Forward Financing * Kensho Technologies * Vestmark * Quantopian * Circle * Federal Reserve Bank of BostonWhat they do: The Federal Reserve Bank of Boston is part of the Central Bankof the United States and seeks to facilitate financial growth and stabilitythroughout the New England area. The bank is heavily involved in the fightagainst discriminatory lending practices and has supported growth in smallerindustrial cities and rural towns, helping bolster citizens throughout theentire nation.Founded: 1914Location: 600 Atlantic Ave. Boston, MA 02210ReggoraWhat they do: Reggora is a Boston-based fintech company that has createdsoftware for appraising real estate. Anyone who has purchased a home knowsthat home appraisal is an important part of buying property. But homeappraisals typically rely on manual processes or old technology, which makesReggora an attractive option for appraisers. The company’s software allows forquicker turnaround times and operational efficiency.Founded: 2016Location: 321 Summer St Boston, MAMassMutualWhat they do: With over 160 years of experience providing its clients withinsurance, retirement, investment and financial wellness services,MassMutual’s network of finance professionals possess the expertise to drivebig financial goals. The institution produces a variety of digital tools toallow individuals and families to plan for the future, continually making theprocess of money management simpler.Founded: 1851Location: 470 Atlantic Ave and One Marina Park in BostoKensho TechnologiesWhat they do: Kensho is a data analytics and machine intelligence company thatcombines natural language search queries and secure cloud computing to createanalytics tools that a wide range of investment professionals can use.How it’s changing fintech: Basically, Kensho’s super intelligent computersystems answer even the most complex financial questions in plain English.Founded: 2013Funding: $57.8 millionDomeyard LPWhat they do: Domeyard LP is a hedge fund that focuses on high frequencytrading.How it’s changing fintech: Domeyard uses advances in high-performancecomputing and data analysis to implement trading algorithms across assets likeequities, futures, fixed income, energy and commodities.Founded: 2013VestmarkWhat they do: Vestmark provides SaaS technology for comprehensive portfoliomanagement and trading solutions.How it’s changing fintech: Vestmark is changing the financial advisorysolutions industry with its innovative technologies and its clients currentlymanage over 1.7 million accounts with over $550 billion in assets undermanagement.Founded: 2001Funding: $50.4 millionEverTrueWhat they do: EverTrue empowers fundraising teams with web and mobilesoftware that identifies and manages their prospects.How it’s changing fintech: Over 300 nonprofit institutions with a combined $17billion of giving data rely on EverTrue’s platform.Founded: 2010Funding: $14.57 millionFlywireWhat they do: Flywire (formerly peerTransfer) is a leading internationalpayments processor that connects institutions with consumers on over sixcontinents.How it’s changing fintech: Flywire has revolutionized how internationalstudents can pay for tuition and health care and is now welcomed in 900+colleges around the world.Founded: 2009Funding: $43.2 millionLevelUpWhat they do: LevelUp is a mobile app that lets users order ahead and pay withtheir phone, connecting them to more than 150,000 restaurants in a singleplace. The company’s mobile payment network also powers loyalty programs withrewards and promotions for frequented businesses.How it’s changing finance: LevelUp makes takeout easier for customers, whilehelping businesses grow their loyalty and rewards programs.Founded: 2008Funding: $94.75MForward FinancingWhat they do: Forward Financing is a fintech company that provides fast,flexible working capital to US-based small businesses.How it’s changing fintech: They use own proprietary technology to provide sameday funding to business owners who need quick access to working capital inorder to succeed and grow. Since 2012, they have provided over $500m infunding to more than 10,000 small businesses.Founded: 2012BondLinkWhat they do: Bondlink provides products for the Municipal Bond Market. Theirplatform enables investors and issuers to connect across any device and iscurrently being used by multiple state and city governments including Florida,Georgia, Chicago and Detroit.How it’s changing finance: Founded by a former issuer, Bondlink’s platform istransforming the market and ensuring more transparency between issuers andinvestors.Founded: 2015Funded: $12MBISONWhat they do: Bison provides software that efficiently analyzes and monitorsprivate market data and funds.How it’s changing fintech: Bison has built a new way for investors in privateequity or venture capital to receive and review data from prospective andexisting managers so that they don’t have to spend countless hours makingmanual datasets.Founded: 2011Funding: $1.34 millionIntralinksWhat they do: Since its 1996 inception, the company has hosted more than $34trillion financial transactions while averaging 7,600 mergers and acquisitionsyearly. Their platform absolves some of the hardships that put M&As in dangerby providing a single, secure cloud-based space — a virtual data room — forbuyers and sellers to engage in real-time. With this, no signature goesunsigned, no documents are lost, and no information is compromised.Founded: 1996Location: 404 Wyman St Waltham, MA 02451PlastiqWhat they do: Plastiq makes it possible for business owners to use creditcards for virtually every payment (even for those that don’t usually acceptcard payment) in order to boost points and better manage working capital.How it’s changing fintech: Plastiq’s platform allows for business owners topay everything from leases to taxes, freelancers and insurance with a creditcard. All a business owner has to do on the platform is fill out paymentinformation and Plastiq will relay their payment to the correct party viacredit card.Founded: 2012Funding: $72.3 millionMidaxoWhat they do: Midaxo is streamlining the mergers and acquisitions process withits software, which helps companies avoid risks, develop better deals andimprove collaboration.Founded: 2011LeaseQWhat they do: LeaseQ connects customers with instant quotes on equipmentleasing, along with sources of financing, which users can apply for online.Equipment ranges from commercial fitness and tech, to construction andmedical.How it’s changing fintech: Equipment leasing quotes can take up to two daysfor customers to receive, so LeaseQ’s online marketplace drastically reducesthe time companies waste leasing commercial equipment.Founded: 2012Funding: $3 millionElsenWhat they do: Elsen reduces the time it takes financial professionals andhedge fund managers to process data.How it’s changing fintech: With a computing engine some 500 times faster thantraditional processing units, Elsen drastically reduces the time it takesasset managers to extract and process intelligence from financial markets.Founded: 2013Funding: $750kCentageWhat they do: Centage is the leading provider of automated, budgeting andplanning software catered to small and mid-sized businesses.How it’s changing finance: Centage’s cost-effective and user-friendlysolutions help companies move beyond Excel sheets and formulas, enabling themto produce more informed decisions and boost their ROI.Founded: 2002Funding: $23 millionGojiWhat they do: Using a combination of smart tech and human experience, onlineinsurance agency Goji helps users find the right policy at the best price.How it’s changing fintech: Goji’s licensed insurance agents guide usersthrough their options of insurance companies, costs, and coverage levels in amatter of minutes.Founded: 2007Funding: $89.2 millionAlphaPackWhat they do: AlphaPack acts as your own financial advisor, managing yourwealth better than any professional could. To do this, the automatedinvestment adviser creates a portfolio that’s tailored to your values andfinances, providing advice that could improve your financial outcomes.How it’s changing fintech: Integrating with banks and insurance providers sothey can offer automated wealth advisory services quickly to customers,AlphaPack also ultimately helps improve a company’s customer service andretention.Founded: 2015Funding: $20kAlt-OptionsWhat they do: Got Bitcoin? Alt-Options is the go-to platform for tradingdigital currency derivatives. Investors can use the startup’s pricingalgorithm to make smarter trading decisions.How it’s changing fintech: The founders of Alt-Options saw an opportunity tobecome an middleman in the emerging world of virtual currency. By connectingasset holders and investors with low-risk and low-cost strategies, Alt-Optionssolves the uber complex liquidity challenges virtual currency markets face.Founded: 2014Funding: $100k+Blueleaf.comWhat they do: Blueleaf uses clients’ financial information to help financialadvisors build profitable relationships.How it’s changing fintech: Financial advisors have struggled to keep up withthe rate of change technology demands, but Blueleaf helps the wealthmanagement industry keep up with other sectors.Founded: 1999Funding: $1.9 millionCovestorWhat they do: Covestor (acquired by Interactive Brokers Group in April 2015)developed portfolio sync technology so investors can select investmentmanagement talents for online marketplaces.How it’s changing fintech: Covestor is shaking up the investment managementindustry by letting investors easily compare and select from a transparentmarketplace of investment management talent including top performing portfoliomanagers and successful investors.Founded: 2005Funding: $23.5 millionFundraise.comWhat they do: Fundraise.com provides online fundraising software fornonprofits, politicans, and individuals.How it’s changing fintech: The platform lets anyone make a donation in 5minutes or less without providing personal information like your credit cardor bank account information.Founded: 2011Funding: $1.2 millionQuantopianWhat they do: Quantopian helps smart, talented people get paid for writinginvestment algorithms that work. In addition to a browser for writing code,the platform also features research and data sets, and hosts competitions eachmonth for the best algorithms.How it’s changing fintech: The small startup has a novel approach to investingthat encourages any nerd or hacker writing code to use their unique skillsetto trade stocks or invest.Founded: 2011Funding: $273.8 millionSocialSciWhat they do: Socialsci provides an online community for academic researchersto collect data administering surveys and experiments.How it’s changing fintech: Researchers using Socialsci save money usingaffordable research participants who are easily compensated with theplatform’s built-in recruiting system and points.Founded: 2012Funding: $512kTrefisWhat they do: Trefis is an easy-to-use stock analysis service that breaks downa stock price by the contribution of a company’s major products andbusinesses.How it’s changing fintech: By simply dragging lines on charts, users of Trefiscan transform complex data models into visual interactives that forecast thefuture price of products and their future expected market share.Founded: 2007Funding: $2.13 millionTripleshotWhat they do: Tripleshot helps institutional investor clients be moreproductive and successful by avoiding high-frequency traders and other marketstructure issues that typically cost them millions of dollars per year.How it’s changing fintech: Though Tripleshot’s initial business was in U.S.stock markets, its unique solution can be applied to stock markets globallyand to markets for other asset classes.Founded: 2011Funding: $5 millionYayPayWhat they do: YayPay helps small and medium-sized businesses get paid quicklyand efficiently through a Software-as-a-Service (SaaS) platform that automatesthe accounts receivable process.How it’s changing fintech: YayPay takes on the payment and administrativetasks that are typically dreaded by small business owners.Founded: 2015Funding: $750,000CircleWhat they do: Circle is focused on creating a free and easy way to store andaccess money. They believe accessing and transferring money should be assimple as sharing media and messages over the internet. Headquartered inDublin with offices in Boston, London and San Francisco, Circle has assembleda knowledgeable team hailing from JP Morgan Chase, Goldman Sachs, Amazon andAdobe.How it’s changing finance: Unlike other management systems that are closed orrestricted, Circle uses internet open standards and protocol that enables themto offer a free and unrestricted service.Founded: 2013Funding: $136 millionRelatedRead More Fintech StoriesCanada’s Top 50 Fintech Companies And Startups For 2021If you are scouring the globe for some of the most exciting financialtechnology companies to keep an eye out for in 2021, then you might besurprised to hear that you hardly even need to leave the country. That’sbecause Canada is actually home to some of the world’s top up-and-comingfintech companies and startups. Canada has startups and established companiesthat operate across almost every single fintech subcategory.To save you some time searching, we’ve filtered hundreds of Canadian financialtechnology companies that have a bright future and put them into this list.Whether you are an employee, small business owner, investor, entrepreneur, orcomputer engineer there are likely to be a few valuable companies on this listthat you may not have heard of.