Best Fintech Companies in Nigeria
Financial Technology companies popularly called fintech companies in Nigeriaare fast rising as a result of millions of unbanked citizens in the country.Banks and financial institutions in Nigeria are known to only operate in topcities and super high ways in Nigeria.This leaves millions of Nigerians in rural, semi urban and other terrainunbanked.This is one of many solutions financial technology companies have come toprovide.Fintech companies are establishment that exploit use of technology to providebasic financial services like bill payments, transfer of funds etc thatordinarily are carried by banks.Also, these fintech companies ensure a stress free financial activities asusers and customers are one click away from making payments for bills,purchases and fund transfers.There is no doubt that these financial technology companies have come to sharein the profits of Nigerian banks.However, these firms can still not be compared to banks as their services havelimits unlike banks in financial activities in Nigeria.Nigeria is a very large market and it is not surprising that many fintechstartups are emerging and soaring high.Currently in Nigeria, there are over 20 fintech companies and firms operatingin the country.These electronic payments companies compete to have share of Nigerian’s onlinepayments infrastructure.In this post, we will be coming up with the top rated fintech companies inNigeria.
Popular & Top Rated Fintech Companies in Nigeria
Some of Nigeria’s best financial technology companies have operated for decadewhile some despite their young age has made strong entry into the market andbroke records.Some of the Nigeria’s best financial technology companies are unicorn firmswhich means they are valued at $1 billion and above.Some of top fintech companies in Nigeria are the most acceptable electronicpayments firms in Nigeria.Their services are found in payment infrastructure of most top businesses inNigeria.Below is the list of top fintech companies in Nigeria.
List of Nigeria’s Top Fintech Companies
Here are Nigeria most popular and widely used fintech companies in Nigeria.
Interswitch is ranked the biggest and best fintech company in Nigeria.The electronic facilitating company was founded in 2002 by Mitchell Elegbe andhas grown into one of the biggest and most trusted financial technologycompanies in Africa.The company is headquartered in Lagos and is among the first fintech firms tocome on in Nigeria.It is one of the very few financial technology companies that are consideredunicorn in Nigeria.Interswitch is the owner of Nigerian’s popular debit card, Verve.Their platform and service can be accessed in almost all the ATM machines inNigeria.They provide payment solutions for Nigeria high profile companies andstartups.
Paystacks is another highly rated fintech company in Nigeria.The company is trusted by over 60,000 businesses and is known for providingreliable payment solutions for businesses and individuals in and acrossAfrica.They are headqutered in Ikeja Lagos and is also a unicorn in Nigeria financialtechnology industry.In October 2020,Stripe, a payment solution giant, acquired Paystacks in amulti million dollar deal. It is a high flying fintech company in Nigeria.
Flutterwave headed by Olugbenga Agboola and founded in 2014 has become aleading fintech firm in Nigeria.They provides seemless payment solutions across the world.Flutterwave is headqutered in San Francisco, USA and is in the list of bestfinancial technology companies in Nigeria.Recently, Flutterwave was announced as unicorn joining the likes ofInterswitch and Paystacks.
This is one of Nigerian’s premier payment processing service provider inNigeria.eTransact is trusted by over 7000 business and financial institutions. Thecompany was founded in 2003 and has expended into Ghana, South Africa, Coted’voire, Kenya and UK.The firm is headqutered in Victoria Island Lagos and is among the best andmost trusted e payment gateways in Nigeria.
Remita is another very popular and highly rated financial technology companyin Nigeria.Remita helps individuals and businesses collect money, make payments andmanage their finances.It is one of the popularly used payment infrastructure for government leviesand taxes.Remita is headqutered at Plot B22 Chief Yesufu Abiodun Oniru Road, Oniru,Lagos, Nigeria.
Paga is among the premier fintech companies in Nigeria. They are one of thebest companies leading and driving mobile money markets in Nigeria.They are out to make use of money simple and easily accessible. It is a verypopular payment gateway in Nigeria and is highly reliable and trusted bymillions in Nigeria.Paga head office address is 176 Herbert Maculay Road, Yaba, Lagos.
VoguePay is a payment solution designed to help you capture more revenue andfacilitate payments.Transactions carried out on VoguePay has exceeded above $2 million.VoguePay is located at 33A, Abba Johnson Crescent, Akora Estate, Off AdeniyiJones, 101211, Ikeja.It is ranked among the top best fintech companies in Nigeria.
The RegTech 100 list
To celebrate companies and start-ups which are doing the best job in Regtech,FinTech Global, a London based FinTech publication, published the RegTech 100list of the most innovative in the RegTech space. After a long process, apanel of experts with the Global Fintech Review assessed a group of 416candidates from across the world and chose the top 100. The selected companieswere recognised and commended for their innovative use of technology togenerate efficiencies and performance enhancements across the compliancefunction within financial institutions, which spend tens of billions ofdollars on the area each year. The publication also looked at Potential costsavings, efficiency improvement and/or revenue enhancements generated forclients, Impact on the problem being solved and Innovation of technologysolution.An analysis of the top shows that RegTech leadership is closely tied to themost dominant financial markets. Nearly half of the RegTech 100 companies arelocated in the United Kingdom or the United States. Ireland, Switzerland andAustralia, which claim 21 companies between them on the RegTech 100, havealready established themselves as RegTech hotspots. Other countries, large andsmall, are just beginning to make their mark in the industry: Brazil, Bermuda,South Africa, Cyprus, India and the United Arab Emirates are all representedon the list.Luxembourg FinTech of the Year 2016 Governance.io, Advanced Logic Analytics –who provide predictive edge analytics augmented with behavioural and emotionalanalytics – and New York-based RegTek.Solutions are among the winners. Theywere joined by Californian software company FixNix, Zurich-based IT firmSpitch, and cloud-based VoxSmart, which is headquartered in London.Also making the grade were firms such as voice processing, compliance andsurveillance technology specialists Fonetic, mobile platform Tokken,Blockchain solutions firm Gecko Governance and automated RegTech providersCUBE.
The full 100:
* Governance.io * Advanced logic analytics * Agreement express * Alyne * Surety * Appzen * Aqmetrics * Arachnys * Ascent * Behaviosec * Bigcontrols * Regbot * Capnovum * Cappitech regulations * ChekRecipent * ClauseMatch * Cloud9 * Compendor * ComplyAdvantage * Contego * Corlytics * CoVi Analytics * Cube * Cxi * Cynopsis solutions * Datarama * Dathena * Digital control room * Digital reasoning * Dome 9 * Duedil * Dynamic GRC * EastNets * Electronic iDentification * Encompass * Fenergo * FinForm * FinoMial * FixNix * Fonetic * Fortia * FundApps * FundsAxis * Gecko Governance * Greenkey * HexaNika * Identity Mind Global * IDmission * ID wall * iSignthis * Jumio * Know your customer * Kompany * Kompli-global * Logical construct * Logicgate * Lucsan * MetricStream * Muinmos * NetGuardians * Neurensic * Nex regulatory reporting * Norbloc * Observe it * Onevissage * Onfido * Polestar * Precognitive * Quantexa * Quarule * Qumram * Recordsure * Regit * Regtek * REGtify * Reportin * Riskifier * Scaled Risk * SecondFloor * Signaturit * Skyhigh * Smartsearch * Spitch * Sybenetix * Synacts * Taina technologies * TheMarketTrust * ThisIsMe * Tokken * Touchtech payments * Trappets * Trax Print * Trunomi * Vatbax * Vestwell * VigilantCS * VoxSmart * W2 * WaymarkTech * Trulioo