Finance companies are on the increase globally, and Nigeria is not left out in this. In the last few years, there have been various finance companies in the market offering various financial solutions tailored to meet the needs of the market.
The application of technology in finance kick-started this innovation process even the traditional financial institutions are not left out as they try to trend with the market to ensure their continued relevance.
In Nigeria’s financial market there are over 200 finance companies and the Central Bank of Nigeria (CBN) estimates that Nigeria would have achieved her goal of financial inclusion by 2024 if this financial growth continues at the rate it is currently operating at.
The application of fintech has brought a lot of advantages in the finance ecosystem in various ways, there are improved customer service and cost-efficient transactions.
Some of these finance companies have done tremendously well and have stood out among others in the market, these companies are known for their excellent service or the fast rate of transactions done through them.
Here is a list of top 10 Finance companies in Nigeria in no particular order:
Paystack
This finance company is at the top chart of fintech startups in Nigeria. The payment gateway they offer can be accessed using MasterCard, Verve and Visa cards.
Paystack platform helps businesses make transactions and it also generates invoices for those transactions.
Flutterwave
Used in over thirty countries including Nigeria, flutterwave serves as a payment gateway for over 65 online platforms.
This finance company founded by Iyin Aboyeji cofounder Andela has been thriving since its inception.
Flutterwave processes payment on and from any channel, from the web, ATM, POS or even mobile wallets and they can exchange money in over one hundred exchange forms.
PiggyVest
This offers a unique method of savings, where your savings are not accessed until a due date set by the individual.
This helps individuals save more as taking your money before a due date attracts a fine. PiggyVest also offers investment opportunities, paying up to twenty-five per cent of the investment.
Interswitch
The first fintech in Nigeria, founded in the year 2002. They offer the Verve debit card used in Nigeria and other African countries. Their payment gateway is used by various online platforms.
Paga
This finance company was founded to enable people to carry out transactions without charges of any kind.
Their fintech solutions are built around people’s dislike for having to spend money to use their money, and this strategy paid off as a lot of transactions are done using Paga payment gateway.
E-tranzact
This offers multidimensional services, used by both corporate organizations, schools, and businesses for transactions.
E-tranzact allows the payee to generate an invoice which is used to make payments and gives receipt after payments.
E-tranzact can accept and process payments from varying channels, ATM, POS, mobile wallets.
Remita
Another multidimensional finance company in Nigeria. Remita aid schools, organizations, Small and Medium enterprises, government agencies in their transactions.
Carbon (Paylater)
Carbon is the biggest and easiest platform to access loans, they try to make the loan process as seamless as possible. Carbon has a mobile app through which its services are accessed.
Kuda Bank
An online bank, no charges on debit cards, or any transaction at all. Opening an account with Kuda bank involves no stress at all.
VoguePay
This finance company gives room for merchants to be integrated on their platform, Nigerian traders found this platform easy to access and utilize.
About the author
Don’t miss important articles during the week. Subscribe to techbuild.africa weekly digest for updates.
