Segun Adeyemi, CEO of Amplified Payment Systems, has written a short ebook, A Guide To The Payments and Fintech Landscape in Nigeria, for lovers of payment, digital banking and fintech with focus on Nigeria. It is a good one. You can read and download it here.
Across the continent, over $560million was invested in tech companies in 2017. Of the $114million reportedly raised by tech companies in Nigeria, 75% of it went to FinTechs. So far in 2018, Nigeria FinTechs have raised over $95million according to publicly available data. If you have been following the startup ecosystem in Nigeria, you are probably inundated with news about FinTechs and their activities on a daily basis. This media attention can be largely attributed to these major investments.
The payment space is the most vibrant and active of the fintech areas in Nigeria. This is as expected because Nigeria is a largely cash based society and there’s a huge opportunity in the digitization of cash transactions. However, beyond the payment space, there are other very active FinTech categories and companies in Nigeria that are tackling big opportunities and using technology to solve real problems in the financial services space
Here are some of the leading payment and broad fintech companies in Nigeria