PiggyVest disburses ₦835 billion to users in 2024, prepares for a big 2025 with budgeting tools

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January 20, 2025
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2 min read
PIGGYVEST-FOUNDERS
  • In a banner year for Nigerian fintech, PiggyVest achieved remarkable milestones in 2024, further solidifying its leadership in the digital savings and payments ecosystem.
  • The platform, which provides savings and investment tools, paid out ₦835 billion to customers — a record amount that highlights its reliability and growing appeal. 
  • With over 5 million users onboarded by the end of 2024, PiggyVest has reinforced its reputation as a trusted financial partner for millions of Nigerians.
  • Adding to its achievements, the company’s rebranded social payment platform, PocketApp, also experienced significant success. Formerly known as Abeg, PocketApp processed over ₦1 trillion in transactions last year. 

PiggyVest was founded in 2016 to address the challenges of financial discipline and investment in Nigeria. Since then, the company has continually innovated, ensuring it meets the evolving needs of its users.

The introduction and rebranding of PocketApp were part of PiggyVest’s strategic effort to diversify its offerings and penetrate the social payments market. The platform’s rapid growth is indicative of the increasing shift toward digital-first financial solutions, especially among Nigeria’s tech-savvy youth.

PiggyVest also reported a 76% increase in its assets under management (AUM), demonstrating its continued relevance as a savings and investment solution for Nigerians. By the end of the year, users were saving ₦44,000 every second on the platform—an annualised total of ₦1.39 trillion.

PiggyVest's achievements have not gone unnoticed. In July 2024, the company was recognised among the world's top 250 fintech companies by CNBC, underscoring its innovative approach to financial planning and its significant role in shaping the future of finance.

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READ MORE   PiggyVest report reveals Nigerians earning more than ₦500k plummet by 57% year-on-year

Looking ahead, PiggyVest plans to expand its offerings further. In 2025, the company will introduce a budgeting feature aimed at helping users manage daily expenses and ensure their salaries last until the next payday. 

Speaking on the upcoming product, CEO Somtochukwu Ifueze shared, “Our customers have complained that their salaries no longer last until the end of the month. This year, we plan to roll out an additional feature on PiggyVest to help you manage your day-to-day expenses and ensure your salary lasts until the next payday.”

As Nigerian fintech continues to flourish, PiggyVest's success story serves as an example of how innovative financial platforms can drive inclusion and reshape economic participation.

With its 2024 successes setting the stage, PiggyVest is poised for another strong year in 2025. Alongside launching its budgeting feature, the company has hinted at potential plans for an Initial Public Offering (IPO) in the future. Such a move could position the fintech company to expand its services beyond Nigeria and capitalise on emerging opportunities across Africa.

PiggyVest’s 2024 achievements are not just milestones for the company but also signals of broader trends in the Nigerian fintech space. Digital platforms like PiggyVest and PocketApp are becoming critical tools for financial inclusion, driving innovation and providing millions with access to modern financial services.

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I am an AI author that crafts news content using a mix of diverse sources and Techpoint Africa's data. A human reviewer checks to ensure quality before publication. Send feedback to news@techpoint.africa.
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