fintech companies

Top 10 Fintech Companies in Nigeria in 2023

by op-ed contributor

Fintech means financial technology. It is a term created to define technology-based solutions to financial management. Fintech companies are businesses that provide financial management to startups and investors.

Fintech is not only categorized under the banking system but also involves cryptocurrency use. All over the world, Nigeria inclusive, fintech companies are shaping how people handle money in the country using software. They offer numerous benefits to people, and below are some of these benefits; 

Benefits of a Fintech Company in Nigeria 

  1. Fintech provides good investment opportunities in Nigeria and foreign countries. 
  2. Fintech companies help companies, businesses, and startups to improve their financial system.
  3. Some fintech companies use cryptocurrency like Ethereum to make payments. An example is Flutterwave.
  4. Fintech companies have a higher chance of expanding their financial scope and gain access to technological tools.
  5. Through fintech companies, you get to make daily transactions sitting in your comfort zone using your mobile phone to carry out activities like sending money and managing investments through online applications.
  6. Fintech companies can bring up innovative ideas and promote the development of the country and its technology.

This is a sneak peek into why fintech companies are necessary in Nigeria. Now, let’s talk about the top fintech companies in Nigeria and their services.

Read also: The evolution of the fintech industry in Nigeria. 

Top 10 Fintech Companies in Nigeria 

In Nigeria, there is rapid growth surrounding technology, and this does not exclude the fintech industry. Fintech has made a name in Nigeria to the extent of being trusted by foreign investors to invest in the Nigeria fintech sector. The growth of these fintech companies depends on their funding.

  1. Flutterwave 

Flutterwave was founded in the year 2016 by Olugbenga Agboola. Flutterwave has a mobile app for Android and ios; it helps customers send, receive money and pay bills.

Flutterwave has partnered with over 40 banks across African nations, also with Visa, to launch Allpay and Get Barter. They are interested in partnering with Binance, allowing Nigerians to buy Bitcoin using Naira.

  1. Paystack

Paystack was founded in the year 2015 by Ezra Olubi and Shola Akinlade and aimed at bringing payment solutions to businesses in Nigeria. This is an online and offline payment solution offered. It allows merchant clients to interact with payment options like bank transfer, visa QR, Apple Pay, USSD, and Mobile money. 

Paystack has become one of the favorite fintech companies for technology startups in the country to invest in. Investors in Paystack include Visa and Y combinators. Also, there is news that Paystack is looking to launch a POS solution soon.

  1. Page 

Tayo Ovosu founded this. Page is a mobile fintech sector that offers transfers, bill payment, and remittance services to everyone; it is accessible to both the banked and unbanked. One reputable investor on the page is Tim Draper (crunch base). Page plans to open SME platforms and also expand to other countries. 

  1. Interswitch

Interswitch was founded in the year 2002 by Mitchell Elegbe. It is a fast-rising and one of the earliest fintech companies in Nigeria. Inter switch provides a broad spectrum of digital financial solutions.

Through partnership, it recently launched a digital address verification service and has been working on blockchain-based infrastructure, which will make it easy for Nigerians to create an effortless application on the blockchain. It is a prominent African digital payment and commerce platform facilitating transactions across Africa.

  1. Carbon

Carbon was founded in the year 2012 by Chijioke Dozie and Ngozi Dozie. Carbon was formerly known as ‘Pay later.’ Carbon is a digital bank licensed by CBN to provide loan and investment opportunities. They offer instant loans to Nigerians without collateral with a competitive interest rate and serve numerous fintech purposes. Carbon offers one of the best services in the fintech industry in Nigeria.

Read also: How small businesses can profit from fintech companies in Nigeria. 

  1. Opay

Opay was founded in 2018 by Zhou Yahui and has a high growth and funding percentage. It is the only African startup listed in CBN Insight fintech in 2021. 

Opay is one of the most popular finance apps in Nigeria. It provides services to its customers such as; money transfers, savings, airtime purchases, and many more, and has achieved a lot since its launch.

Join our whatsapp community to connect with online entrepreneurs and also gain access to resources and opportunities that will aid your growth.

  1. Kuda

Founded in 2019 by Babs Ogundeyi, Kuda is licensed by CBN, although based in London. It is focused on the Nigerian market. It has an app for Android and iOS users and offers complete banking services. Kuda account comes with a free debit card, spending control, budgeting, transfer, and savings functions. Provide users with a specific list of free transfers each month.

Kuda is known for its fast, easy, and convenient banking services and its focus on using technology to improve and better its banking affair.

  1. Piggyvest

Piggyvest provides savings and investment. It is not a full-fledged digital bank. It offers flexible, goal-oriented, fixed, and automated savings options. Piggyvest started as a savings-only platform before it added an investment option solution.

It has been long since they raised funds, but it still functions well.

Read also: How to use Piggyvest and why you should use it.

  1. Fair money

This was founded in 2017 by Laurin Hainy, Mattieu Gendreau, and Nicolas Barthozat. Fair money is a digital bank focused on lending. They provide instant loans of 1 million naira, a bank account, and a debit card. They also offer financial inclusion to underbanked people.

  1. Remita

Remita was founded in the year 2005 and developed by system specs. It is a payment gateway used by the Nigerian government. They provide a gateway to make and receive payment and offer this service for business and personal use. Remita is in partnership with some reputable fintech companies like Access payDay, Page, and Carbon to provide instant loans. It has a mobile app.


Technology advancement in Nigeria today has made a lot of things possible, and the introduction of online banking fintech solutions is on the rise, making life easier.  

The fintech industry in Nigeria is a promising one and is still booming. If this is an area of interest for you, there are many fintech companies with incredible opportunities and available new areas to dive into within the industry. Go for it.

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Edited by Emmanuel Odebiyi

About the Author

Maryann Omeke is a blockchain and web3 content writer. I strive to create high-quality, informative, and engaging content on the potential of decentralised web3 technologies and their impact on society. With a talent for breaking down complex concepts into digestive writing, I help readers navigate the exciting world of decentralised systems.

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Op-Ed are articles published by guest authors. We no longer accept guest posts. However, we are still open to adding long-term content contributors to our team of insightful writers. To write for us, please check out

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