Platnova is three years old. For a Nigerian fintech operating in the current environment, high inflation, regulatory complexity, and a market full of well-funded competitors, that alone is worth noting. But the Lagos-based company is not celebrating survival. It is celebrating growth.
Since launching in 2023, Platnova has built a user base of over 100,000 verified accounts transacting across 50+ countries in 15 currencies. Its product suite has expanded well beyond its original money transfer core, now including multi-currency wallets, a Vault savings product with 15.5% returns, virtual and physical debit cards, a USD Account for African users, bill payments, and lifestyle features including flight and hotel bookings.
The big move this year: eliminating naira transfer fees. No caps. No hidden charges. No promotional window. CEO Benjamin Oyemolan has been direct about the intent: it’s a product decision, not a marketing one.
“Nigerians are already doing so much with so little. We want to give them tools that save money and expand possibilities. Free transfers are not a promo for us, it’s a principle.”– Benjamin Oyemolan, CEO, Platnova.
Platnova is also making a deliberate push into the business segment. The company’s merchant API tools are designed for Nigerian SMEs and African businesses that process cross-border payments, a market where payment failures, currency mismatches, and settlement delays are routine pain points. Given Platnova’s existing multi-currency infrastructure and its regulatory standing across Nigeria, the UK, the US, Canada, and Rwanda, the foundation for this push is more solid than most.
The company is not disclosing revenue figures, but points to its over 100,000+ app downloads, 10+ major fintech event participations in 2024, and the opening of a new Lagos headquarters this year as indicators of momentum. It also gained recognition as Nigeria’s Fastest-Growing Fintech Startup. It reached the Startup World Cup Grand Finale in San Francisco, the kind of external validation that matters for an early-stage company still building credibility with enterprise clients.
As year four begins, the priorities are clear: deepen the business product, expand the user base in existing markets, and enter new ones. Whether Platnova can execute that roadmap at the speed the market demands is the question. But after three years of building quietly and consistently, they have earned the right to be taken seriously.
