Funding may per chance be slower all the map by map of Africa in 2025, nevertheless Nigeria’s fintech engine is aloof running hot. In Q1 alone, startups in the nation raised over $100 million, with most of it going to payments, banking, and remittances platforms.
The 10 firms are shaping the market with extraordinary individual bases, heavy transaction volumes, and true product rollouts.
Here are the High 10 Greatest fintech firms in Nigeria 2025:
Moniepoint
Moniepoint (formerly TeamApt) entered unicorn territory in insensible 2024 after a $120 million Assortment C (including $10 million from Visa) and landed on TIME’s 100 Most Influential Firms list.
It targets diminutive and informal businesses with digital banking, serves better than 10 million users, and processes over 1 billion transactions monthly, topping $100 billion in payments final year.
In 2025, it secured approval to rob a majority stake in Kenya’s Sumac Bank, launched MonieWorld for remittances, and teamed up with AfriGO to distribute 5 million cards in Nigeria.
Paystack
Acquired by Stripe for $200 million in 2020, Paystack now operates in Ghana, Kenya, Côte d’Ivoire, and South Africa. It processes better than $250 million in monthly cost volume and handled three billion API requests in Q4 2024. Bank transfers gained ground on their network—58% of transactions in 2023, up from 28% in 2022.
In March 2025, Paystack launched Zap, an individual app for instant transfers to any Nigerian financial institution in below 10 seconds. Users can link existing financial institution accounts by map of relate debit or fund a Paystack–Titan Trust Bank wallet; card linking works globally, even though the initial focal point is in-Nigeria spend barely than remittances.
PalmPay
PalmPay ranks among Africa’s quickest growers (No. 2 on the FT list). As of Q1 2025, it stories over 35 million users and better than 15 million transactions day-to-day. Between January and December 2024, it processed ₦71.5 trillion, with 80% monthly tantalizing users.
Its on-ground attain includes over 1,000,000 agents and retailers. Enlargement targets for 2025 include South Africa, Côte d’Ivoire, Uganda, and Tanzania.
Paga
Founded in 2009, Paga is one in every of Nigeria’s veterans. It has processed better than ₦23 trillion since birth, with ₦8.7 trillion in 2024 and monthly volumes now above ₦1 trillion in 2025. Beyond individual payments, the community runs three lines: Paga (individual), Doroki (SME tools), and Paga Engine (infrastructure).
Kuda
Digital financial institution Kuda processed better than 300 million transactions worth ₦14.3 trillion in Q1 2025—₦8.5 trillion from retail users and ₦5.8 trillion from businesses (the latter launched in 2022).
It issued ₦16.4 billion in overdrafts in Q1 on a threat-primarily primarily based pricing mannequin and expects to attain ₦57 trillion in 2025 transaction volume. Kuda also relaunched remittances for users exterior Nigeria sending cash house.
LemFi
Remittance participant LemFi raised $53 million Assortment B in January 2025 (bringing total funding to better than $86 million). It serves over two million users all the map by map of the US, UK, Canada, and Europe, processing round $1 billion per month.
In June 2025, it acquired UK card startup Pillar, boosting control over cards, multicurrency wallets, and credit rating aspects rolling out in Egypt, Morocco, and Tunisia. It also launched LemFi Credit rating, already archaic by better than 8,000 customers, as it pushes to be a full-stack finance app for immigrants.
Flutterwave
With a $3 billion valuation, Flutterwave remains Africa’s most costly fintech. It has processed better than 890 million transactions totalling over $34 billion, with infrastructure spanning 34 African international locations.
In West Africa, it now holds a cost-institution licence from BCEAO, enabling full operations in Senegal and deepening regional attain.
Raenest
Raenest serves freelancers, far flung workers, and global groups. In February 2025, it raised $11 million (Assortment A extension), bringing total funding to $14.3 million.
It has processed better than $1 billion in payments, helps over 700,000 individuals and 500 businesses, and offers USD/GBP/EUR wallets, digital buck cards, low-price payouts to better than 50 international locations, and local withdrawals.
Its Geegpay product targets creators; Raenest Rewards launched in 2025, alongside a partnership with Sidebrief to inspire founders position up all the map by map of Africa, the U.S., and the UK.
OPay
OPay is one in every of Nigeria’s most visible individual fintechs, known for its successfully-organized-app capacity that combines wallets, invoice pay, transfers, QR and POS acceptance, savings aspects, and carrier provider tools.
Its extraordinary agent and carrier provider network has helped push digital payments deeper into everyday commerce, from initiate-air markets to pass hubs.
OPay’s focal point on snappy onboarding, cashback-style incentives, and 24/7 in-app reinforce continues to obtain it a default wallet for heaps of first-time digital payers.
In 2025, the firm has leaned extra into carrier provider acceptance, offline-to-online payments, and centered partnerships that widen use cases past individual-to-individual transfers.
Interswitch
Interswitch is the infrastructure mainstay behind noteworthy of Nigeria’s card and switching ecosystem. By Verve (its home card network) and Quickteller (individual invoice pay and collections), it connects banks, businesses, and shoppers to core rails for transactions.
The firm’s cost switching, acquiring, and issuer-processing services and products take a seat all the map by map of more than one sectors, enabling everything from ATM withdrawals to online checkout and mass disbursements.
In 2025, Interswitch remains central to reliability and scale in Nigeria’s digital payments, while expanding value-added services and products for enterprises and public-sector collections.
