A market born out of remittance, pushes forward with leaders scaling beyond to leverage competences they have formed and polished
Nigeria fintech market is a tough spot: a major market in Africa by population alone, it exhibits both adoption of digital payments and mobile first interfaces as well as of ecommerce delivery — but require smartness around cost of offline grid to support cash top-ups.
The market size and divergence in income, tech adoption, overall literacy also creates massive requirement to attract and compete for the segments one can get.
The market dynamics and models employed by current players are fascinating. Below a systematised current status of play for fintech in Nigeria.
- Zilch is now profitable across its product suite having doubled underlying sales and tripled revenue in the last six months — with eyes firmly set on bottom-line profitability in the near future
- Europe’s fastest fintech to go from Series A to double unicorn, passes 3 million customers in just 24 months
Source: Businesswire
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