FUNDINGUpdated 1 months ago

FairMoney Nigeria

FairMoney: Nigeria digital lender + microfinance bank license. 6M+ users. NGN 150bn disbursed and NGN 7bn paid in interest to savers in one year. Pivoted to full digital banking.

English, French, Portuguese or Arabic, machine translated, with the original kept beside it.
Key Information
Organisation
FairMoney (MyCredit Investments)
Location
Nigeria, Nigeria
Status
Open
Application Deadline
Rolling
Type
Microfinance
Amount
NGN 1,500 to 1,000,000
Size
small
Language
English
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Description

FairMoney (officially MyCredit Investments Limited) is a Nigerian fintech that holds a microfinance bank license from the Central Bank of Nigeria. With over 6 million users, FairMoney evolved from standalone digital lending into a full-service digital bank offering high-interest savings accounts, fixed-term deposits, current accounts, debit cards, POS solutions, and lending products. According to Technext24, FairMoney disbursed NGN 150 billion in loans and paid over NGN 7 billion in interest on savings within a single recent year. FairMoney is one of the most successful examples of a Nigerian neobank that pivoted from lending-only to diversified financial services.

Focus Sectors

Microfinance, Consumer Lending, Digital Banking