Pillow Fund, a financial services company has launched in Africa with the sole mission to provide Africans with a reliable way to save and grow their wealth. Pillow now has a market presence in Africa’s largest economy, Nigeria, with a variety of products and services that allow users to earn interest on their deposited funds, while also actively solving the problem of increasing costs of living. Having helped over 100,000 users in 60+ countries across the world hedge against inflation and its growing pangs that are slowly threatening to cripple economies globally, Pillow is set to level the playing ground for Nigerians through financial inclusion in the opportunities that lie in cryptocurrencies.
Pillow encourages users to save in USD-backed cryptocurrencies from the comfort of a mobile app. For the savings made by users, they earn an interest rate of 14% per annum. Pillow is one of the few apps that pay out interest every day to the users. Apart from USD-backed cryptocurrency, users can invest in multiple blue-chip cryptocurrencies like Bitcoin, Ethereum, etc. Users can withdraw whenever they please as interest on crypto investments.
Although many have dubbed the app the “digital piggy bank”, Pillow has plans to do a lot more to elevate the personal finance journeys of the people in Nigeria. “Pillow truly aspires to reward a culture of savings and financial discipline in Nigeria, where young, hardworking, ambitious Nigerians, are able to take control of their finances, achieve their life goals and work towards financial freedom. And we’re creating a suite of high-quality, secure, & transparent financial products that will grant our users access to global economic opportunities and let them take control of their finances”, according to Arindam Roy, CEO of Pillow.
In Nigeria specifically, the app has been praised for its ease of use and user-friendly interface. Some users have even called it a "lifeline" in these difficult financial times. Pillow has also partnered with multiple experts and advisors in the Nigerian and the broader African ecosystem who can help provide valuable financial education. According to KaganTech, one of the country’s foremost Tech advisors, “I think the problem Pillow looks to solve is simple, "how do you protect your finances from inflation?". They are saying let’s help you save your money and get you the best returns with the power of crypto. While I would always advise everyone to do their own research, it also helps to know there is a brand that’s got your back.”
There is also a dedicated focus on security and transparency on the Pillow App. By leveraging the biggest custody and security technologies in the world, Pillow takes special care to ensure that users’ funds are safe. Apart from the security measures, Pillow uses BitGo, which provides a $250Mn custody insurance to add an extra layer of safety of funds. Pillow has secured the backing of some of the biggest global investors, among the likes of Elevation Capital, founders of Polygon and Defi Pulse.
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The Pillow app is free to download on both iOS and Android devices. For more information, & inquiries, please visit www.pillow.fund/ng.