Investments in Financial Technology (FinTech) in Nigeria and other parts of Africa have moved from about $198 million in 2014, to $800 million currently. Though global investments in FinTech were put at $19 billion in 2015, indications have shown that investors are increasingly attracted to the industry’s potential to tap Africa’s huge unserved/underserved population.
FinTech is the one area in this technology evolution that a lot of people agree has the potential to impact a lot of Nigerians.
Here in this article is an extensive (but not exhaustive) list of the FinTech startups and platforms in Nigeria and the services they ofer:
Monapay
Monapay, a fintech startup, launched in 2017 intends to go unconventional with how online payment is made. The founder, Hugo Obi thought it might be easier to pay for digital products using airtime than undergoing the stress of using credit/debit cards. If you’ve ever had to punch in your card number, CVV, expiry date, and other details usually demanded to make online transactions, then you might agree with him.
In plain English – Monapay helps digital merchants accept airtime payments from their customers.
ThriveAgric
We all think of farming sometimes but when you think about the stress that goes into it, the thought alone is enough to send one running. With ThriveAgric you are given the opportunity to fund a farm, empower farmers, learn practical agricultural tips and share the harvest.
For individuals, it allows easy and insured investment with a promise of 23% ROI in less than a year. While farmers get access to the funding needed to embark on their farming operations.
Flutterwave
Flutterwave provides the platform that gives you the liberty to process credit card and local alternative payments, which includes mobile money and ACH, across the African continent. The solution makes it possible for global merchants to process payments like the normal local African company.
Founded in 2016 by a team of ex-bankers, entrepreneurs and engineers, Flutterwave provide the underlying technology platform that allows businesses to make and accept payments anywhere in Africa.
Invoizpaid
They focus on bridging the SME credit gap in Nigeria, Giving entrepreneurs access to working capitals
FarmCrowdy
Founded in 2016, Farmcrowdy is Nigeria’s 1st Digital Agriculture Platform focused on connecting farm sponsors with real farmers in order to increase food production while promoting youth participation in Agriculture.
What FarmCrowdy intends to do with the recently secured funding is particularly what ignites interest. The plans are to extend services across 20 states in Nigeria, work with 4,000 more farmers, and engage tens of thousands of new followers and sponsors. These plans beat its current record of 1, 000 farm sponsors and about 2,000 small-scale farmers.
