Are you searching for fintech companies in Lagos? If the answer is yes, then you have landed in the right place. Continue reading!
Over the past decade, Lagos has earned its reputation as the fintech capital of Nigeria and one of the leading innovation hubs in Africa. From Yaba’s buzzing tech scene to the corporate towers of Victoria Island, the city is home to some of the most successful fintech companies—businesses that are redefining how people send money, save, invest, borrow, and make payments.
In this article, we’ll explore the top fintech companies in Lagos, highlighting their services, achievements, and contributions to Nigeria’s rapidly growing digital economy. Whether you’re an entrepreneur, investor, job seeker, or simply curious about the future of financial technology, this guide will help you discover the key players shaping the fintech landscape in Africa’s most dynamic city.
Let’s dive!
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Overview of Lagos Fintech Ecosystem
If you’ve ever wondered why people call Lagos the fintech capital of Nigeria, the answer is simple — nowhere else in the country blends hustle, innovation, and opportunity quite like this city. From the buzzing streets of Yaba’s tech hubs to the high-rise offices of Victoria Island, Lagos is where financial technology is not just growing; it’s exploding.
Over the past few years, the city has become a magnet for fintech companies, and for good reason. Think about it: over 20 million residents, one of Africa’s fastest-growing internet user bases, and a youthful population eager for faster, smarter, and more affordable financial services. It’s a recipe for disruption, and fintech is serving it hot.
What makes Lagos so fertile for fintech innovation?
- The Talent Pool: From top-tier software developers to ambitious business minds, the city overflows with people ready to solve real financial problems.
- Investor Confidence: International VCs and tech giants are betting big on Lagos, with local startups raising millions in funding rounds.
- Supportive Infrastructure: Co-working spaces in Lekki, accelerators in Yaba, and networking events across the city give fintech founders the connections they need.
- Everyday Demand: Whether it’s a market trader who needs quick mobile payments or a startup founder seeking cross-border transfers, the demand for fintech in Lagos is massive and diverse.
Today, fintech here isn’t just about payments. It’s a full spectrum from digital banks to savings and investment platforms like PiggyVest, to cross-border payment innovators like Chipper Cash. And with government financial inclusion goals and more Nigerians joining the digital economy daily, the Lagos fintech scene is only going to get bigger, bolder, and faster.
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Top Fintech Companies in Lagos
Below is the list of the top fintech companies in Lagos:
1. Flutterwave
If there’s one name that constantly pops up when talking about fintech companies in Lagos and Nigeria at large, it’s Flutterwave. Founded in 2016, this payment giant has grown into one of Africa’s most recognized fintech brands, enabling businesses to accept payments from anywhere in the world.
From small Nigerian merchants to global brands like Uber and Facebook, Flutterwave’s technology powers seamless transactions in multiple currencies. Headquartered in Lagos with offices across Africa and beyond, the company has processed over $25 billion in transactions and is trusted by millions.
With its flagship product “Rave” and innovations like the “Send” app, Flutterwave is making cross-border payments as easy as sending a text. It’s no wonder they’re often called the “backbone of African payments.”
| Feature | Details |
|---|---|
| Founded | 2016 |
| Founders | Olugbenga Agboola, Iyinoluwa Aboyeji |
| Core Services | Payment processing, cross-border payments, merchant solutions |
| Headquarters | Lekki, Lagos |
| Key Achievement | Processed $25B+ in transactions |
| Website | www.flutterwave.com |
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2. Paystack
Before Stripe acquired Paystack in 2020 for a reported $200 million, the company had already revolutionized online payments in Nigeria. Launched in 2015, Paystack’s mission was simple: help businesses get paid faster, easier, and more securely.
From e-commerce stores to non-profits, over 60,000 businesses in Nigeria and across Africa use Paystack to accept payments via cards, bank transfers, USSD, and even mobile money.
Headquartered in Lagos, Paystack has become synonymous with modern, reliable payment solutions. Their clean user interface, transparent fees, and strong developer tools have made them a darling of both tech startups and established enterprises.
| Feature | Details |
|---|---|
| Founded | 2015 |
| Founders | Shola Akinlade, Ezra Olubi |
| Core Services | Online payment gateway, subscription billing, invoicing |
| Headquarters | Ikeja, Lagos |
| Key Achievement | Acquired by Stripe for $200M in 2020 |
| Website | www.paystack.com |
3. Interswitch
When it comes to pioneers in the Nigerian fintech space, Interswitch is in a league of its own. Founded back in 200, long before “fintech” became a buzzword, Interswitch played a huge role in digitizing payments in Nigeria.
From the Verve card you might have in your wallet to the Quickteller platform you use for bill payments, Interswitch has embedded itself deeply in the daily lives of millions of Nigerians. Their technology powers ATMs, POS terminals, online transactions, and even government payment systems.
With its headquarters in Victoria Island, Lagos, and operations across Africa, Interswitch remains a heavyweight in Africa’s digital payment infrastructure.
| Feature | Details |
|---|---|
| Founded | 2002 |
| Founder | Mitchell Elegbe |
| Core Services | Payment processing, Verve cards, Quickteller, POS and ATM networks |
| Headquarters | Victoria Island, Lagos |
| Key Achievement | First Nigerian fintech to hit $1B valuation (Unicorn) |
| Notable Awards | African Banker Awards – Best Payments Company |
| Website | www.interswitchgroup.com |
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4 PiggyVest
If you’ve ever struggled to save money consistently, PiggyVest probably changed your story. Founded in 2016 as “Piggybank.ng” before rebranding to PiggyVest, the platform has grown into Nigeria’s leading savings and investment fintech, helping over 4 million users build healthy financial habits.
The idea is simple but powerful: automate your savings so you don’t have to think about it. Users can lock away funds, invest in vetted opportunities, and even set personal savings goals—all from their phones.
Headquartered in Lagos, PiggyVest has become a household name among millennials and Gen Z Nigerians, proving that fintech is not just about payments—it’s also about financial discipline and growth.
| Feature | Details |
|---|---|
| Founded | 2016 |
| Founders | Odunayo Eweniyi, Somto Ifezue, Joshua Chibueze |
| Core Services | Digital savings, investments, goal-based saving |
| Headquarters | Lagos |
| Key Achievement | 4M+ users saving and investing over ₦1 trillion cumulatively |
| Notable Awards | AppsAfrica Award for Best Fintech Solution |
| Website | www.piggyvest.com |
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Carbon (formerly Paylater)
Back in 2012, getting a quick loan in Nigeria usually meant paperwork, guarantors, and endless waiting. Then Carbon (originally Paylater) showed up and flipped the script.
Carbon started as a mobile-based lending platform, allowing Nigerians to get instant loans without visiting a bank. Over the years, it evolved into a full-fledged digital financial services provider—offering bill payments, airtime purchases, free money transfers, and even investment options.
With a mission to simplify access to finance, Carbon’s app is now one of the most downloaded fintech apps in Nigeria. Their headquarters in Lagos serves as the innovation hub where they continue to push the boundaries of digital banking.
| Feature | Details |
|---|---|
| Founded | 2012 |
| Founders | Chijioke Dozie, Ngozi Dozie |
| Core Services | Digital lending, bill payments, investments, free money transfers |
| Headquarters | Lagos |
| Key Achievement | First Nigerian fintech to launch a credit report feature within its app |
| Notable Awards | Inclusive Fintech 50 Winner |
| Website | www.getcarbon.co |
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6 Kuda Bank
If you’ve heard the phrase “the bank of the free” in Nigeria, they’re talking about Kuda Bank. Founded in 2019, Kuda has built a strong reputation as Nigeria’s first fully digital bank—meaning no physical branches, just a sleek mobile app that puts banking in your pocket.
With free transfers, no maintenance fees, budget tracking tools, and instant card delivery, Kuda is designed for the modern Nigerian who wants convenience without the hidden charges.
Headquartered in Lagos, Kuda has grown rapidly, attracting millions of users and expanding into the UK market. They’re not just a bank—they’re a movement pushing traditional banks to rethink how they serve customers.
| Feature | Details |
|---|---|
| Founded | 2019 |
| Founders | Babs Ogundeyi, Musty Mustapha |
| Core Services | Digital banking, free money transfers, debit cards, budgeting tools |
| Headquarters | Lagos |
| Key Achievement | Over 6 million customers in under 5 years |
| Notable Awards | CB Insights Fintech 250 List |
| Website | www.kuda.com |
7 Moniepoint
Moniepoint is one of the fastest-growing fintech companies in Lagos and Nigeria at large, and it’s built around a simple idea: help small businesses get the same reliable banking tools that big companies use. What started as TeamApt evolved into Moniepoint — a payments-and-banking powerhouse that provides POS terminals, merchant acquiring, business banking, and credit solutions for SMEs across Nigeria. In 2024 Moniepoint joined the unicorn club after a major funding round, underlining how quickly Lagos fintech can scale when it solves real problems for everyday businesses.
| Feature | Details |
|---|---|
| Founded | 2015 (started as TeamApt) |
| Founder / CEO | Tosin Eniolorunda |
| Core Services | Agent & merchant payments, POS, business banking, SME credit |
| Headquarters | Lagos (operations across Nigeria) |
| Key Achievement | Reached unicorn valuation after $110M+ funding; large merchant/agent network |
| Website | www.moniepoint.com |
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8 Paga
Paga is one of the veteran names among fintech companies in Lagos—an early mover that helped popularize mobile payments and agent-based cash-in/cash-out across Nigeria. Founded by Tayo Oviosu (and early co-founder Jay Alabraba), Paga focused on building a wide agent network and easy-to-use mobile services so people could send money, pay bills, and receive remittances without needing a traditional bank branch. Today it’s still widely recognized as a pioneer that helped kickstart Nigeria’s move from cash to digital payments.
Paga Overview Table
| Feature | Details |
|---|---|
| Founded | 2009 |
| Founders | Tayo Oviosu, Jay Alabraba |
| Core Services | Mobile money, agent network, bill payments, remittances |
| Headquarters | Lagos |
| Key Achievement | Early scale in agent-based payments and mobile remittance services |
| Website | www.mypaga.com |
9 FairMoney
FairMoney has become one of the most recognized fintech companies in Lagos and Nigeria at large, thanks to its speed and simplicity in providing financial services. Launched in 2017, FairMoney started as a mobile lending platform, offering instant loans without collateral. Over time, it has grown into a full-service digital bank with features like bill payments, airtime purchases, and debit cards.
Its appeal lies in how fast it works — most loan applications are approved and disbursed in minutes. By focusing on underserved individuals and small businesses, FairMoney has played a big role in improving financial inclusion in Nigeria.
| Feature | Details |
|---|---|
| Founded | 2017 |
| Founders | Laurin Hainy, Matthieu Gendreau, Nicolas Berthozat |
| Core Services | Digital lending, bill payments, bank accounts, debit cards |
| Headquarters | Lagos |
| Key Achievement | Over 5 million downloads on Google Play Store |
| Website | www.fairmoney.io |
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10 Chipper Cash
Chipper Cash is one of the few fintech companies in Lagos with a truly pan-African reach. Founded in 2018, the platform specializes in free and low-cost cross-border payments, making it possible to send money across African countries and beyond with ease.
Its Lagos office plays a strategic role in connecting Nigerian users to the rest of the continent, especially for remittances and business transactions. In addition to transfers, Chipper Cash offers virtual dollar cards, crypto trading, and bill payment services — making it a versatile tool for both individuals and businesses.
| Feature | Details |
|---|---|
| Founded | 2018 |
| Founders | Ham Serunjogi, Maijid Moujaled |
| Core Services | Cross-border payments, virtual cards, crypto trading, bill payments |
| Headquarters | Lagos (HQ in San Francisco, USA) |
| Key Achievement | Serving 5+ million customers across 7 countries |
| Website | www.chippercash.com |
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How to Choose the Right Fintech Company in Lagos
With so many fintech companies in Lagos offering everything from mobile banking to cross-border payments, choosing the right one can feel overwhelming. The truth is, there’s no one-size-fits-all solution. The best choice depends on your specific financial needs, lifestyle, and goals.
Here are a few key factors to guide your decision:
1. Identify Your Needs
Before signing up, ask yourself: What do I need most?
- For payments & business transactions: Companies like Flutterwave, Paystack, or Moniepoint may be ideal.
- For savings & investments: PiggyVest or Cowrywise could be a better fit.
- For loans & credit: FairMoney or Carbon might serve you best.
2. Check Security & Regulation
Only use fintech companies that are licensed by the Central Bank of Nigeria (CBN) or have recognized regulatory approvals. Also, check for data encryption, secure login options, and fraud prevention measures.
3. Compare Fees & Charges
Even the most user-friendly fintech app can drain your wallet if the fees are too high. Compare transaction charges, withdrawal limits, and currency conversion rates before committing.
4. Consider User Experience
A good fintech platform should have an easy-to-use mobile app, reliable customer support, and fast transaction times. Reading reviews on Google Play Store or Apple App Store can give you an idea of real user experiences.
5. Look at Reputation & Track Record
Established names like Interswitch and Paga have years of proven reliability, while newer startups like Kuda Bank and Chipper Cash are redefining convenience. Weigh their track records before making a choice.
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Fintech Companies in Lagos: Final Thoughts
Lagos has rightfully earned its title as Nigeria’s fintech capital. From pioneering giants like Interswitch and Paga to disruptive startups like Kuda Bank and Chipper Cash, fintech companies in Lagos are transforming how Nigerians save, spend, invest, and send money.
This thriving ecosystem is more than just a collection of apps — it’s a movement driving financial inclusion, empowering small businesses, and connecting Nigeria to the global economy. Whether you’re a business owner looking for a reliable payment gateway, a young professional seeking smarter savings tools, or an investor scouting the next big thing, Lagos offers endless possibilities in the fintech space.
One thing is clear: the fintech revolution in Lagos is only just beginning. And as technology evolves, the city’s innovators will continue to set the pace for the rest of Africa.