The Best Fintech Companies in Nigeria (2024)

Fintech Companies Nigeria -
- Advertisement -

In this post, I’ll list the top-ranked fintech companies in Nigeria and tell you about the services they provide.

- Advertisement -

You’ve probably heard of fintech startups like Paycom, popularly known as Opay. And we have a lot of them in Nigeria, and their presence has made financial services pretty easy in the country. You must be linked with a Fintech company if you are a business owner wishing to simplify business transactions between yourself and your clients.

These tech companies make financial services pleasant and reliable; they make transactions, investments, and even banking in Nigeria simple. So, before I proceed, let me explain what a fintech firm is and what they do in general.


What is a Fintech Company?

Fintech is an abbreviation for Financial Technology. It refers to an industry or a stand-alone firm that uses digital technology to make traditional financial practices more convenient and efficient. A fintech company in Nigeria simplifies financial services, as seen by its influence on the banking sector in Nigeria.

Nowadays, you do not need to visit a bank to get a bank account. Fintech companies have made digital banking applications feasible in Nigeria, allowing you to open a bank account from anywhere without entering a banking hall.

Top digital banking apps in Nigeria
Top Collateral-free Loans Platforms in Nigeria
Best Money Saving Apps in Nigeria (Android & iOS)

List of the Top Fintech Companies in Nigeria

The number of fintech firms in Nigeria is steadily increasing yearly. Truth is, there is always dominance in terms of popularity and customer usage. As a result, I’ve decided to select the top ten fintech organizations in Nigeria.

1. Paystack Payments Limited

Fintech Companies Nigeria - - 1

Paystack Payments Limited is an internet payment gateway that enables Nigerian company owners to accept credit and debit card payments. It was founded in 2015 by Shola Akinlade and Ezra Olubi and is well-known in Nigeria for being associated with major online retail companies. These include big names such as Jumia, Konga, and even Bet9ja, Domino, and Taxify.

The fintech firm has a large workforce, and its headquarters are in Lagos. Paystack allows you to quickly connect to their payment gateway API on your website and be paid. Even if your clients do not have credit or debit cards to make payments, Paystack offers many payment options. This, among other benefits, makes them one of the best Fintechs in Nigeria.

2. Flutterwave

Fintech Companies Nigeria - - 2

Flutterwave is likely Africa’s biggest financial service provider, and not just in Nigeria. They also provide an online payment gateway for retailers to accept credit and debit cards. The firm, on the other hand, provides a wide range of services because it is associated with over 40 different African banks and is presently partnering with Paypal to allow merchants to get paid via Paypal.

It was founded in 2016 by Olugbenga Agboola and Iyinoluwa Aboyeji, and is well-known in Nigeria and other African nations. They also offer an app called Flutterwave’s Barter. It allows anybody to simply create virtual credit cards and make online payments on foreign websites.

3. Remita

Fintech Companies Nigeria - - 3

Nigeria’s e-payment landscape is changing, with new fintech businesses cropping up to satisfy the demands of a booming digital economy. Remita is one of Nigeria’s most well-known fintech startups.

Remita is an online payment platform that allows businesses to send and receive payments. The company has been in operation for more than ten years and has processed over $5 billion in transactions. Remita is one of Nigeria’s most popular fintech firms because it provides a variety of payment alternatives, including online, mobile, and POS payments. In addition, the firm provides a number of value-added services, such as airtime top-up and bill payment.

4. PiggyVest

Fintech Companies Nigeria - - 4

PiggyVest is a Nigerian saving and investing platform based in Lagos. Through its app, the firm allows customers to save and invest money.

PiggyVest, a fintech firm located in Lagos, Nigeria, was founded in 2016. It provides a digital platform for savings and investing. Users can use the service to set up automated savings programs, manage their own expenditure, and apply for loans. PiggyVest has over 1 million members who have saved over $40 million. Forbes, CNBC Africa, and TechCrunch have all written about the firm.

5. Chipper Cash

Fintech Companies Nigeria - - 5

Chipper Cash is a mobile-first financial services business located in Lagos, Nigeria. It was started in 2016 by Hamse Warfa and Toby Schistad with the goal of providing everyone with quick access to financial services.

Chipper Cash provides a mobile app via which users may send and receive money, make payments, and have access to credit products. Andreessen Horowitz, The Valley Fund, GV, and Precursor Ventures have each invested $13 million in the startup. Forbes Magazine called Chipper Cash one of the top 50 fintech businesses in Africa in 2019.

6. Paga

Paga is a Nigerian fintech firm that allows users to send and receive money, make payments, and access loans. Founded in 2009, Paga was one of the country’s earliest fintech companies. It has since grown to become a market leader in the area.

Paga’s services are utilized by over 10 million Nigerians, making it one of the country’s most popular fintech businesses. Paga has won various honors and accolades, including being named one of Forbes Africa’s Most Promising Companies in 2013 and one of CNBC Africa’s Rising Stars in 2015.

7. Kuda Bank

Kuda is a digital-only bank established in 2018 with the goal of making financial services more accessible and inexpensive for everyone. The fintech firm is now the only bank in Nigeria that provides free bank accounts with no monthly fees. The firm also provides loans, savings, and investment solutions. Fast Company named Kuda the top African financial company in 2019.

The Bank is highly famous in Nigeria and is one of the finest digital banks in Nigeria. It also doubles as a top fintech firm that has been recognized in several awards and magazines. Kuda also has an overdraft option that allows you to borrow money from them, and it’s now one of the top lending applications in Nigeria.

8. E-tranzact

If you’re searching for a fintech firm to assist you with electronic transactions, e-tranzact is an excellent choice. They are based in Lagos, Nigeria, and provide a variety of services. These include; online payments, money transfers, and even online shopping. Furthermore, they offer a highly user-friendly website that makes using their services pretty simple.

9. Voguepay

VoguePay is a major online payment processor that enables businesses to take payments in both local and foreign currencies. The firm provides a suite of payment solutions that includes online, mobile, and POS payments.

VoguePay is dedicated to offering safe and simple payment solutions to businesses of all kinds. The firm is led by a group of seasoned individuals that are enthusiastic about technology and finance.

VoguePay has garnered various industry awards and accolades. VoguePay is a trusted partner of major banks and financial institutions in Nigeria. The firm is based in Lagos, Nigeria, and has offices in London, Dubai, and New York.

10. Interswitch

Interswitch is a leading technology and integrated payments firm that enables quick and consistent electronic money circulation and value exchange between individuals and enterprises.

The fintech firm has had a significant impact on the Nigerian fintech scene, and its contributions cannot be overstated. The organization has been at the forefront of developing cutting-edge payment solutions that have made an impact across the country.

Some of its most popular products include:
Quickteller, a digital payments platform that allows users to make online payments for goods and services,
A mobile wallet that allows users to store, send, and receive money; and
USSD (Unstructured Supplementary Service Data) which allows customers to access banking services via their mobile phones.


Fintech has expanded rapidly in Nigeria, as it has in the rest of the world, during the last decade and a half. Financial services have become more accessible and efficient as a result of technological advancements. Fintech companies in Nigeria have taken advantage of this opportunity to deliver solutions to individuals and businesses alike.