Nigeria FinTech Landscape - Impact Assessment
Nigeria FinTech Landscape
FinTechs are developing innovative value propositions across the financial services
value chain (2/2)
NOT EXHAUSTIVE
Products
Sub-category
Lending
Retail lending
MSME lending
Lending
infrastructure
Services
Personal finance
Distribution
Accounts
Merchant solutions
Financial
institutions
Digital insurance
Core value proposition
Instant, unsecured, short term loans to retail customers
leveraging alternative credit scoring algorithms and
data
Quick, unsecured working capital loans to MSMEs
with minimal documentation
Lending platform for banks and other lending players
to simplify lending process and provide risk
assessment
Automated expense tracking, budgeting and
investments leveraging machine learning
Value added services for MSMEs and merchants such
as inventory management, loyalty & accounting
Platforms and services for financial services providers
to leverage to provide digital services to their
customers e.g. software, automation
Technology enabled, easy to setup and low cost
models to scaling agent networks
Fully digital banking services leveraging smartphones
Insurance marketplaces
Example players
carbon
•FairMoney
ferratum
money
renmoney
Lidya
schoolable
Indicina
Social Lender
igo
Λ
Masase money better
REACH
LUYSTAR
accounteer
amart cloud
RIBY
→Kudi
K kuda.
2003
AutoGenius
KliQr
thank cash
teamapt
PayCentre NOW
Capricorn Digital
Digital Solutions and Distribution
Now
Rubies A
Cassava
Fintech
ALAT
Indication of traction
Carbon disbursed over $35.6M in loans in 2018
Lidya has disbursed over 10 thousand loans valued
at $12mn to 2 thousand MSMEs
Migo has originated more than 3 million loans to
over 1 million customers in Nigeria since 2017
REACH tracks expenses for over 50 thousand users
ThankUCash has processed over $5.5m in
transactions on its loyalty platform
Riby has 1.1M members and 30k co-ops
Team Apt serves over 26 African banks
Kudi processes over NGN 1bn per day in
transactions
Alat has signed up over 350 thousand users since
launch
Limited traction among players
EFINA
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