List of Fintech Companies in Nigeria (2025 Edition): Top Players Transforming Digital Finance
The fintech revolution is redefining how Nigerians save, invest, transfer, borrow, and spend money. With over 250 fintech startups and counting, Nigeria has emerged as the fintech capital of Africa, attracting billions in funding and creating digital financial solutions for the unbanked and underbanked.
But which fintech companies are leading the charge?
In this comprehensive article, we present the updated list of top fintech companies in Nigeria (2025). We cover what they do, how they work, and why they matter in Nigeria’s financial ecosystem.
Table of Contents
What Is a Fintech Company?
Why Fintech Is Booming in Nigeria
Top Fintech Companies in Nigeria (Updated 2025 List)
Flutterwave
Paystack
Opay
Moniepoint
Kuda Bank
Carbon
FairMoney
PalmPay
Paga
PiggyVest
Risevest
Cowrywise
Chipper Cash
Remita
Eyowo
VBank
Eversend
Branch
Barter by Flutterwave
ALAT by Wema Bank
Sectors Covered by Nigerian Fintechs
The Future of Fintech in Nigeria
Final Thoughts
1. What Is a Fintech Company?
A fintech (financial technology) company uses technology to improve financial services like banking, lending, investing, and payments. In Nigeria, fintech companies are bridging the gap left by traditional banks—bringing services to remote areas, reducing banking costs, and promoting digital inclusion.
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2. Why Fintech Is Booming in Nigeria
Here’s why fintech is thriving in Nigeria:
Over 60 million unbanked adults
High mobile phone and internet penetration
Frustration with traditional banks
Rise in mobile money and digital payments
Government cashless policies
Support from tech hubs and international investors
3. Top Fintech Companies in Nigeria (2025 List)
Below is the most updated and detailed list of fintech companies in Nigeria by category and function:
1. Flutterwave
Founded: 2016
Focus: Payment processing
Website: www.flutterwave.com
Flutterwave is one of Africa’s biggest fintech success stories. It enables businesses to accept payments globally via card, bank transfer, USSD, and mobile money. Used by Uber, Facebook, and small Nigerian merchants.
2. Paystack
Founded: 2015
Focus: Online payments
Website: www.paystack.com
Acquired by Stripe for $200M in 2020, Paystack simplifies online and offline payments. It powers thousands of online stores, tech startups, and schools in Nigeria and beyond.
3. Opay
Founded: 2018
Focus: Mobile banking, POS services, bill payments
Website: www.opay.ng
Owned by Opera Software, Opay is a one-stop mobile money platform. They offer POS machines, debit cards, transfers, and loans. Very popular with small-scale merchants.
4. Moniepoint
Founded: 2019
Focus: POS banking, agency banking
Website: www.moniepoint.com
Moniepoint powers thousands of agents across Nigeria with fast, secure POS terminals. It offers loans, instant settlement, and high transaction success rates.
5. Kuda Bank
Founded: 2019
Focus: Digital banking
Website: www.kuda.com
Kuda is Nigeria’s first digital-only bank. With zero card maintenance fees and free transfers, it targets tech-savvy youth looking for modern banking.
6. Carbon
Founded: 2016 (as Paylater)
Focus: Lending, savings, bill payments
Website: www.getcarbon.co
Carbon offers instant loans, bill payments, airtime purchase, and savings plans. Their app is easy to use and ideal for salaried or self-employed users.
7. FairMoney
Founded: 2017
Focus: Instant loans, bill payments
Website: www.fairmoney.io
FairMoney uses AI to give instant personal loans to users via their smartphone. They also offer savings and investment products.
8. PalmPay
Founded: 2019
Focus: Mobile payments, banking
Website: www.palmpay.com
PalmPay offers rewards-based mobile money and supports bill payments, fund transfers, and POS transactions. Their app is popular for cashback and discounts.
9. Paga
Founded: 2009
Focus: Mobile money, transfers
Website: www.paga.com
One of Nigeria’s earliest fintechs, Paga enables users to send/receive money, pay bills, and top-up airtime from any phone.
10. PiggyVest
Founded: 2016
Focus: Automated savings & investments
Website: www.piggyvest.com
PiggyVest is Nigeria’s #1 digital savings platform. Users can save daily, weekly, or monthly, lock funds in SafeLock, and invest in low-risk assets.
11. Risevest
Founded: 2019
Focus: Dollar investments
Website: www.risevest.com
Risevest allows Nigerians to invest in global assets like U.S. stocks, real estate, and fixed income in dollars. It protects users from Naira inflation.
12. Cowrywise
Founded: 2017
Focus: Savings and investment
Website: www.cowrywise.com
Cowrywise helps Nigerians build disciplined savings culture with automated plans. It also offers mutual fund investments with clear returns.
13. Chipper Cash
Founded: 2018
Focus: Cross-border money transfer
Website: www.chippercash.com
Chipper Cash allows free peer-to-peer transfers across African countries and also offers crypto trading, airtime purchase, and bill payments.
14. Remita
Founded: 2005
Focus: Enterprise payment solution
Website: www.remita.net
Remita is widely used by Nigerian institutions, including the Federal Government (e.g., for TSA). It handles payroll, invoicing, and taxes for businesses.
15. Eyowo
Founded: 2018
Focus: Digital wallets and microbanking
Website: www.eyowo.com
Eyowo allows users to send and receive money with just a phone number, without needing an internet connection. Great for rural banking.
16. VBank
Founded: 2020
Focus: Virtual banking
Website: www.vbank.ng
VBank is a virtual bank by VFD Microfinance Bank offering zero maintenance fees, instant account opening, budgeting tools, and savings options.
17. Eversend
Founded: 2017
Focus: Multi-currency wallets
Website: www.eversend.co
Eversend is a multi-currency e-wallet allowing Nigerians to hold, send, and convert currencies including USD, EUR, and GBP.
18. Branch
Founded: 2015
Focus: Microloans and financial services
Website: www.branch.com.ng
Branch offers instant loans without collateral, savings plans, and free money transfers within Nigeria through its mobile app.
19. Barter by Flutterwave
Founded: 2017
Focus: Virtual cards and payments
Website: www.barter.me
Barter provides virtual dollar cards for online shopping, Netflix, Facebook Ads, and more. Popular with freelancers and online shoppers.
20. ALAT by Wema Bank
Founded: 2017
Focus: Digital banking
Website: www.alat.ng
ALAT is Nigeria’s first fully digital bank, offering savings goals, instant loans, virtual cards, and lifestyle banking.
4. Sectors Covered by Nigerian Fintechs
Nigerian fintech companies are innovating across various sectors:
Sector Examples
Payments & Transfers Flutterwave, Paystack, Chipper Cash
Digital Banking Kuda, ALAT, VBank
Lending Carbon, FairMoney, Branch
Savings & Investment PiggyVest, Cowrywise, Risevest
POS & Agency Banking Moniepoint, Opay, PalmPay
Remittance & Forex Eversend, Barter
5. The Future of Fintech in Nigeria
By 2030, fintech is expected to power over 60% of all financial transactions in Nigeria. Key trends to watch:
More agent banking in rural areas
Blockchain adoption and digital currencies
AI-driven personal finance tools
Increased cross-border payment services
Regulations and compliance expansion by CBN
6. Final Thoughts
If you’re searching for the complete list of fintech companies in Nigeria, this 2025 guide gives you not just names but insights into what they do and how they’re changing financial services in Africa’s biggest economy.
Whether you’re an investor, entrepreneur, developer, or user—understanding these fintechs will help you leverage financial technology for better banking, easier payments, smarter investments, and more secure transactions.
Pro Tip: If you’re starting a fintech-related blog or business, link to these companies and write in-depth reviews to drive organic traffic to your site.