Top 7 Fintech Companies in Lagos 2025 [You Should Know No. 2]
Fintech companies in Lagos use technology to offer new financial services to people and businesses. FinTech is essential to the finance sector, the third most favored industry and market group. They’re changing how banking, lending, and payments work by using digital tools.
Are you looking for the best fintech companies in lagos for your financial dealings? look no more, this article covrs everything you need to know about top fintech companies in lagos, Nigeria.
Lagos, Nigeria’s business center and one of Africa’s busiest cities, is a prime spot for these companies. They’re focused on reaching the city’s tech-savvy population.
These firms are significant for including more people in banking services, especially those without access.
READ ALSO: Top 10 Fintech Companies in Nigeria 2024: Full Guide
Top Fintech Companies in Lagos by Ranking 2025
Paystack
Paystack is a financial intermediary that provides APIs and tools designed to help African merchants easily accept payments. Their software allows businesses to collect online payments from local and global customers. With various APIs, Paystack ensures secure handling of customer card information, including collection, encryption, transmission, and storage. They also offer ongoing anti-fraud and chargeback protection services.
In collaboration with Access Bank, Paystack has developed PCI-compliant payment infrastructure and APIs to maintain industry standards. it is the best among the leading fintech companies in lagos today.
Paystack eases the process of accepting secure payments from various local and global payment channels. Additionally, Paystack provides businesses with tools to retain current customers and attract new ones.
Location and Contact Details
Based at 126 Joel Ogunnaike Street, Ikeja GRA, Ikeja, Lagos, Nigeria.
Established in 2015
Phone: +234 201 631 6160.
Email: hello@paystack.com
Website: https://paystack.com/
Interswitch
Interswitch is a dynamic company dedicated to improving and simplifying the payment process. It is a leading African platform for integrated payments and digital commerce. Interswitch started as a firm focused on transaction switching and processing nationwide. it is second leading among the fintech companies in lagos.
Over time, Interswitch broadened its scope to include consumer financial services. This expansion introduced Quickteller, a platform linking merchants and billers with consumers, and Verve, an EMV-certified payment card scheme developed locally.
Location and Contact Details
Location: Lagos, Nigeria
Founded: January 1, 2002
Email: consumersupport@interswitchng.com
Phone: +23419065000
Website: www.interswitchgroup.com
Paga
Tayo Oviosu founded Paga to provide convenient money access to one billion people. The company tackles global challenges by reducing reliance on cash and improving financial service accessibility. Paga began its operations in Nigeria in August 2012. This fintech company is a licensed mobile money operator under the Central Bank of Nigeria.
Paga builds a payments ecosystem for seamless transactions, shopping, and selling. Additionally, it offers its extensive payment infrastructure to third-party developers to support the growth of the Internet economy.
Location and Contact Details
Address: 176 Herbert Macaulay Way, Yaba 100001, Lagos, Nigeria
Contact No.: 0700-000-PAGA (0700-000-7242) 01-2777160
Website: http://paga.dev/
Renmoney MFB Limited
Renmoney is among Nigeria’s leading fintech companies that offer different financial services, such as personal and business loans, savings, investment options, and banking services. With a microfinance banking license, Renmoney is a digital bank that extends loans and facilitates savings, deposits, and payment solutions to the Nigerian populace.
It is under the regulatory oversight of the Central Bank (CBN) of Nigeria and insured by the Nigeria Deposit Insurance Corporation (NDIC), ensuring its customers’ compliance and security.
Renmoney is fueled by a team of technology and finance enthusiasts devoted to delivering exceptional service experiences. Renmoney distinguishes itself as Nigeria’s most accessible lending institution, prioritizing understanding customer needs and employing technology, data, and innovation to provide outstanding service.
Location and Contact Details
Address: Kings Plaza, 80 Adeniran Ogunsanya St, Surulere, Lagos, Nigeria
Contact No.: +2347005000500
Website: http://www.renmoney.com/
Kudi
Kudi started its journey in 2016 by creating its inaugural line of code. Initially, it served as a chatbot helping with financial inquiries. Kudi has since transformed into a comprehensive financial technology firm committed to meeting the needs of all Africans.
Initially, it focused on facilitating money transfers and bill payments via a chatbot. Kudi recognized the widespread lack of access to financial services across Nigeria. In response, the company went deeper into the issue and developed the Kudi app for Agents, aiming to bridge the gap in financial inclusion.
It remains dedicated to its mission of tackling the core challenges surrounding financial access and striving to deliver effective solutions.
Location and Contact Details
Location: 19 Bosun Adekoya St, Maroko, Lagos, Nigeria
Founded: January 1, 2016
Contact Information: +2347019536630
Email: hello@kudi.ai
Website: https://kudi.com/
AjoMoney
AjoMoney is an innovative digital platform simplifying rotating savings and credit associations (ROSCA) for African communities. It offers various solutions for ROSCA groups, cooperative societies, and their members by providing digital savings, payment, and credit facilities.
This fintech company functions as a rotational savings group application, where members make regular contributions, and one member receives the collective funds as a lump sum on a predetermined date. Moreover, AjoMoney offers investment options, enabling users to invest their accumulated funds for future purposes.
In summary, AjoMoney represents a modernized version of ROSCA, bringing traditional savings and credit practices into the digital age.
Location and Contact Details
Location: 73/74 Ajayi Road, Ogba Ikeja, Lagos, Nigeria
Founded: April 6, 2021
Contact Information: 0700-AJOMONEY
Email: hello@ajo.money
Website: www.ajo.money
Moove
Moove is a pioneering company in mobility fintech, providing vehicle financing based on revenue to entrepreneurs in emerging markets. Originating in Africa and now operating globally, Moove caters to various industries, including ride-hailing, logistics, mass transit, and instant delivery services. Moove is one of the top fintech companies in Lagos today.
With a solid commitment to making a positive difference, Moove receives support from prominent investors and focuses on generating sustainable employment opportunities. Additionally, it aims to facilitate asset ownership for customers who traditionally lack access to financial services.
Location and Contact Details
Location: Lagos, Nigeria
Founded: January 1, 2019
Email: info@moove.africa
Website: www.moove.io
Frequently Asked Questions
What is the future of fintech in Nigeria?
The future of fintech in Nigeria depends on new technologies like AI, blockchain, and digital payments with fresh ideas. Financial institutions are increasingly using these advances to meet customer needs and improve their services.
But with these innovations come new problems that need fixing. As banking practices become more modern, there are more legal issues, like privacy issues, data safety, cybersecurity, and fraud. For example, there’s been a vast 207.9 percent rise in money lost to fraud in Nigeria in three months ending in 2022, according to FITC.
So, Nigerian fintech regulators have a tough job. They have to make laws to handle the problems caused by these new technologies while still letting them grow and improve. They need rules that lower risks without stopping progress or hurting consumer protection and financial safety.
Regulators must balance encouraging innovation for economic growth and helping more people access financial services by keeping consumers safe, ensuring finance stays stable, and fighting financial crimes. Finding this balance is the biggest challenge for fintech regulators in Nigeria as they deal with the changing world of financial technology.
READ ALSO: Different Types of Fintech Companies You Should Know 2024
How many fintechs do we have in Nigeria?
The most recent report shows that the number of fintech companies has increased to 254, compared to 236 last year. This rise is mainly because some companies, like HR payroll firms, were included this time, even though they weren’t considered purely fintech. Also, the report indicates a decrease in categories from 14 in 2022 to 11 in 2023, suggesting changes in how the fintech industry is classified over time.
How much do I need to start a fintech company in Nigeria?
Registering a Payment Terminal Services Provider company requires approval from the Corporate Affairs Commission. The company must have a minimum share capital of N100 million. To initiate the process, an application and all necessary documents must be submitted to the Central Bank of Nigeria (CBN). The application fee is N100,000; once approved, the licensing fee amounts to N1 million.
Who regulates fintech companies in Nigeria?
The Fintech sector in Nigeria is regulated by various bodies including the Central Bank of Nigeria (CBN), the Nigerian Deposit Insurance Corporation (NDIC), Securities and Exchange Commission (SEC), Nigerian Communications Commission (NCC), the National Information Technology Development Agency (NITDA) National Insurance Commission (NAICOM), the Federal Competition and Consumer Protection Commission (FCCPC), Corporate Affairs Commission (CAC), Federal Inland Revenue Service (FIRS), Nigeria Data Protection Regulation Commission (NDPRC), and National Office for Technology Acquisition and Promotion (NOTAP).
The level of regulation by each body depends on the specific transactions or services provided by the fintech company.
What are the categories of Fintech in Nigeria?
Fintech companies in Nigeria obtain licenses from regulatory bodies that oversee and regulate their operations, imposing penalties for any breaches. These licenses define the range of activities allowed and ensure accountability for the companies and their executives. Various types of fintech firms can be established in Nigeria, including:
- Digital banks
- Lending or credit companies
- Payment Service Banks
- Payment Service Providers
- Blockchain and cryptocurrency enterprises
- Robo-Advisory services
- Insurtech firms
- Cryptocurrency or Virtual Asset Service Providers
- Finance companies
All these businesses must register with the Corporate Affairs Commission (CAC) and meet the specified minimum share capital requirements set by each regulatory authority.
Conclusion
In summary, the booming fintech sector in Lagos, Nigeria, is transforming financial services through technology, benefiting both individuals and businesses. Lagos, being a bustling hub of commerce and technology, provides an ideal environment for fintech innovation, meeting the needs of its tech-savvy population.
These fintech companies in lagos are important for promoting financial inclusion, especially for those previously overlooked by traditional banks. They offer a variety of financial solutions that allow more people to access banking services and participate in the digital economy.
Top fintech companies in Lagos include Paystack, Interswitch, Paga, Renmoney, Kudi, AjoMoney, and Moove, each contributing unique services like secure payments and digital lending. However, with fintech growth comes challenges, such as legal and regulatory issues. Regulators must balance innovation with consumer protection and financial stability.
Despite challenges, the future of fintech in Nigeria looks promising, driven by advancements like AI and blockchain. Fintech companies and regulators must collaborate to ensure responsible innovation, fostering economic growth and financial inclusion nationwide.
