There are series of yet unanswered questions on Fintech investment in Nigeria, while some people think it is the ‘savior’ and would soon expand, others think it is a new market with great volatility.

Mentality and the deterrent of taking advantage of opportunities are /the reason why most people are yet considering a career in fintech investment in Nigeria.

Here is all a beginner needs to know about fintech before going further. FinTech means’ Financial Technology’ that takes over technological innovation in the financial sector. Aspects of fintech offer to depend on their categories:


This is an online platform as a base for financial interactions. Eg. Flutterwave and haystacks.


They leverage tech to provide micro-insurance services. Eg. TopcheckAfrica, Reliancehmo.


These firms use tech to enable online savings, investments, and personal financial services. Eg. PiggyBank, Alat.


They are platforms that trade digital currencies. Eg. BitKoinAfrika, NairaEx

Important things to note

  • Strength- since fintech companies make financial services easier and simpler, they provide efficiency in financial transactions by providing infrastructure and expanding access to financial services.
  • Weaknesses- due to cyberbullies and cybercriminals, the information provided online is not safe is open to hackers. This can lead to fraud and loss of money.

To fully understand how the sector operates, below are some 4 fintech Companies in Nigeria transforming the financial space.

Carbon (2012) is a fintech mobile platform in Nigeria with the parent company, OneFi. The platform enables payment, bills, smart investments, and instant loans to cover urgent cash needs. The platform is compatible with both iOS and Android.

Paga is a company, licensed by the Central Bank of Nigeria, was established in 2009 by Tayo Oviasu. The company offers services on mobile payment to enable people to access money as soon as the need arises.

The company enables a cashless policy and solves the problem relating to access to financial services.

Interswitch is a digital payment platform founded in 2002 to enable a quick payment system across the growing interest in e-commerce in Nigeria. Its payment system has helped in developing the Nigerian payment system over the years.

FairMoney was established in 2017 as a licensed online money lender. The company provides instant loans and bill payments.

The company was founded by 3 young men who were interested in giving everyone, especially SMEs access to loans.

The company offers loans of between N1,500 to N500,000 within 5 minutes, for twelve months through its online platform.

Fintech is growing and you should consider carving a niche for yourself in this space if you are a techie.

Check out possibilities, analyze the threats and opportunities, and see which of the categories you would like to major in.

Congratulations, you just crossed the first hurdle by reading this article. Now, learn more and see how far you can harness the opportunities of the
space, and begin your journey to create a fintech investment in Nigeria.

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