PiggyVest Paid Out 242 Billion Naira in 2021, CEO Says

PiggyVest Paid Out 242 Billion Naira in 2021, CEO Says

By Chuks Emele

PiggyVest, a Nigerian fintech company that offers savings and investment opportunities to its customers, paid out 245 billion naira in matured investments and withdrawals last year, Chief Executive Officer Somto Ifezue said.

That’s more than double the 90 billion naira it said was paid out in 2020.

The company, which started operations in 2016, will expand its suite of products this year for its fast-growing customer base, Ifezue said in an emailed New Year message to clients.

“With over 3.5 million customers and over 242 billion naira successfully paid out in 2021 alone, we are once again saying thank you for trusting us,” he said.

The Lagos-based company said it’s currently overhauling it’s app to add a new feature called “Investify” in order to offer subscribers more diversified investment opportunities.

Nigeria’s fintech environment is increasingly competitive, with more companies offering similar services amid a sluggish economic recovery following two recessions in four years under President Muhammadu Buhari’s government.

“It’s not been an easy task making sure everyone is happy, but we are grateful for the opportunity and we never take it for granted,” the chief executive officer said.