Nigeria’s financial technology (fintech) sector has witnessed explosive growth in recent years, driven by a young, tech-savvy population, increasing mobile penetration, and a need for accessible financial services. Fintech companies in Nigeria are revolutionizing the financial sector by providing innovative solutions that cater to the unbanked, simplify transactions, and offer new financial products. This article explores the top 20 fintech companies in Nigeria, their capital share, and the unique features of their services.

1. Flutterwave
Capital Share: Estimated at $3 billion (2021 valuation) Flutterwave is a payment technology company that provides seamless and secure payment solutions across Africa. Founded in 2016, it allows businesses to accept payments in over 150 currencies and through various methods, including cards, mobile wallets, and bank transfers. With a robust API, Flutterwave enables businesses to scale quickly, making it a favorite for e-commerce platforms and international businesses looking to expand in Africa.

2. Paystack
Capital Share: Acquired by Stripe for $200 million in 2020 Paystack simplifies payments for businesses by offering a suite of payment tools that support multiple payment methods. Known for its easy integration and reliable service, Paystack is popular among SMEs, startups, and large enterprises in Nigeria. Its acquisition by Stripe marked a significant milestone in the Nigerian fintech landscape, highlighting the country’s potential in the global fintech market.

3. Opay
Capital Share: Raised $570 million in Series C funding in 2021 Opay is a comprehensive mobile payment platform that offers services such as money transfers, bill payments, and ride-hailing. Backed by Chinese investors, Opay has rapidly grown its user base, focusing on providing financial services to Nigeria’s underbanked population. The platform’s low transaction fees and user-friendly interface have made it a popular choice for many Nigerians.

4. Interswitch
Capital Share: Valued at $1 billion (2020) Interswitch is a pioneer in Nigeria’s fintech industry, providing integrated payment processing and transaction services. Established in 2002, Interswitch has expanded its offerings to include a variety of digital payment products, including Quickteller, Verve cards, and an extensive ATM network. Its services are widely used across Nigeria’s banking sector, making it a backbone of the country’s digital payments ecosystem.

5. Carbon (formerly Paylater)
Capital Share: Raised $10.4 million in 2019 Carbon is a digital financial services platform that offers quick loans, investment opportunities, and payment solutions. With a focus on providing credit to underbanked Nigerians, Carbon has gained significant traction by offering unsecured loans through its mobile app, making it easier for individuals and small businesses to access credit.

6. Paga
Capital Share: Raised $34.7 million to date Paga is a mobile payments company that enables users to transfer money, pay bills, and buy airtime using their mobile phones. Paga’s extensive agent network across Nigeria has made it a critical player in driving financial inclusion, especially in rural areas where traditional banking infrastructure is lacking.

7. Kuda Bank
Capital Share: Raised $90 million in Series B funding in 2021 Kuda Bank is a digital-only bank offering free banking services, including savings and spending accounts with no maintenance fees. Kuda’s mobile app provides users with a seamless banking experience, allowing them to manage their finances, save automatically, and access overdrafts. Its customer-centric approach has earned it a rapidly growing user base in Nigeria.

Read more
Source: https://loansharkreview.com/Insightdetails/Top-20-Fintech-Companies-in-Nigeria-and-their-Capital-Share

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penielx:
Nigeria’s financial technology (fintech) sector has witnessed explosive growth in recent years, driven by a young, tech-savvy population, increasing mobile penetration, and a need for accessible financial services. Fintech companies in Nigeria are revolutionizing the financial sector by providing innovative solutions that cater to the unbanked, simplify transactions, and offer new financial products. This article explores the top 20 fintech companies in Nigeria, their capital share, and the unique features of their services.

1. Flutterwave
Capital Share: Estimated at $3 billion (2021 valuation) Flutterwave is a payment technology company that provides seamless and secure payment solutions across Africa. Founded in 2016, it allows businesses to accept payments in over 150 currencies and through various methods, including cards, mobile wallets, and bank transfers. With a robust API, Flutterwave enables businesses to scale quickly, making it a favorite for e-commerce platforms and international businesses looking to expand in Africa.

2. Paystack
Capital Share: Acquired by Stripe for $200 million in 2020 Paystack simplifies payments for businesses by offering a suite of payment tools that support multiple payment methods. Known for its easy integration and reliable service, Paystack is popular among SMEs, startups, and large enterprises in Nigeria. Its acquisition by Stripe marked a significant milestone in the Nigerian fintech landscape, highlighting the country’s potential in the global fintech market.

3. Opay
Capital Share: Raised $570 million in Series C funding in 2021 Opay is a comprehensive mobile payment platform that offers services such as money transfers, bill payments, and ride-hailing. Backed by Chinese investors, Opay has rapidly grown its user base, focusing on providing financial services to Nigeria’s underbanked population. The platform’s low transaction fees and user-friendly interface have made it a popular choice for many Nigerians.

4. Interswitch
Capital Share: Valued at $1 billion (2020) Interswitch is a pioneer in Nigeria’s fintech industry, providing integrated payment processing and transaction services. Established in 2002, Interswitch has expanded its offerings to include a variety of digital payment products, including Quickteller, Verve cards, and an extensive ATM network. Its services are widely used across Nigeria’s banking sector, making it a backbone of the country’s digital payments ecosystem.

5. Carbon (formerly Paylater)
Capital Share: Raised $10.4 million in 2019 Carbon is a digital financial services platform that offers quick loans, investment opportunities, and payment solutions. With a focus on providing credit to underbanked Nigerians, Carbon has gained significant traction by offering unsecured loans through its mobile app, making it easier for individuals and small businesses to access credit.

6. Paga
Capital Share: Raised $34.7 million to date Paga is a mobile payments company that enables users to transfer money, pay bills, and buy airtime using their mobile phones. Paga’s extensive agent network across Nigeria has made it a critical player in driving financial inclusion, especially in rural areas where traditional banking infrastructure is lacking.

7. Kuda Bank
Capital Share: Raised $90 million in Series B funding in 2021 Kuda Bank is a digital-only bank offering free banking services, including savings and spending accounts with no maintenance fees. Kuda’s mobile app provides users with a seamless banking experience, allowing them to manage their finances, save automatically, and access overdrafts. Its customer-centric approach has earned it a rapidly growing user base in Nigeria.

Read more
Source: https://loansharkreview.com/Insightdetails/Top-20-Fintech-Companies-in-Nigeria-and-their-Capital-Share

It's not "Capital share", it's "Share capital"