In the last ten or fifteen years, the Nigerian fintech industry has witnessed significant growth, with female-centric startups pushing gradually to the forefront of this development. The female-focused fintech brands have disrupted the traditional financial landscape in Nigeria by providing innovative financial solutions that cater to the specific needs of women.
There has been an increase in the number of new venture funds and female-led angel investors willing to support women with African businesses. Although we cannot overlook the existing gender disparities within the tech space, these female-centric fintech brands have made commendable contributions that should be celebrated in the ecosystem. They have successfully raised capital for their startups; expanded their businesses; selected and featured on various award lists.
There is an endless list of women making a difference in the fintech industry in Nigeria, but in this report, we are highlighting in alphabetical order 6 top female-centric fintech brands taking charge in the Nigerian Fintech space.
FIRST CHECK AFRICA
First Check Africa is an early believer in a generation of African women in tech. The brand invests early, with high conviction, in high-growth female-led startups with category-leadership potential with check sizes of up to $250K.
In addition to networking, special events, scouting, and support at every step in the investment process, the investor platform’s main objective is to give African women in tech their first check by investing up to $25,000 in each woman at the ideation stage and working to help her raise a significant pre-seed round within 12 months after being confirmed.
Odunayo Eweniyi, Co-founder & General Partner of FirstCheck Africa is also the Co-founder/Chief Operating Officer of Piggyvest a fintech company that securely makes saving possible by combining discipline plus flexibility to make women grow their savings to reach a desired savings target.
HEELS AND TECH
Heels and Tech is a community where women acquire relevant technology skills to become globally competitive and also earn well.
It is an advocate for women interested in transitioning into the tech industry and also closing the global skills. They train in Agile methodology, Business Analysis, Salesforce Administrator, Data analysis, and Personal branding.
Their aim is to close the gender gap between Women and Technology and help them secure flexible well paid work while they tend to their families.
They have a community of over 30k+ combined across different channels from 22 countries. Acquiring tech skills has helped many women remain marketable, and relevant and increased their earnings by $807m and counting.
Bisola Alabi, Founder of Heals and Tech has worn several hats ranging from building startups (with a combined portfolio of $4.5 million), Enterprise Technology consulting (Oracle& Salesforce), Programs Management, Agile Coaching, Learning Development, Team Leadership, Digital Sales &Marketing, Rural Community Development, and Sustainable Fashion across different industries.
She developed a strong interest in building People and Technology Products, one of which is Heels and Tech, an experiential E-learning platform with real-time instructors where African women come to learn Technical Enterprise skills with a 92% increase in career advancement, job retention, and employability skills.
Herconomy
Herconomy is a Female-focused fintech startup dedicated to creating financial resources for women. It started as AGS Tribe, a community dedicated to networking and capacity building of young entrepreneurs and professionals.
After years of building a community of over 15,000 women and carefully understanding their needs, it decided to hinge on building the future of banking for women in Africa. Herconomy understands that women cannot be empowered through bank accounts alone, they need access to financial services, community, and capacity building and that is why it built just that.
Herconomy has been built to inspire, connect and elevate the capacity of female entrepreneurs and professionals. It remains Nigeria’s first digital platform for female entrepreneurs and professionals with a focus on empowering women and connecting women to opportunities such as grants, fellowships, scholarships jobs, and much more.
Their ultimate goal is for these women to become so empowered that they will create an impact in their communities. They have built a world where women can have access to equal opportunities.
Ife Durosinmi-Etti is the CEO of Herconomy. She is focused on connecting women to various opportunities such as scholarships, grants, fellowships, and job opportunities. She is an entrepreneur and Young Global Leader with over 10 years of management and leadership experience working in the fashion marketing, and manufacturing sectors.
HerVest
HerVest is an Inclusive Fintech that provides access to savings, Impact Investing, and credit for smallholder women farmers and women-owned/led businesses in Nigeria. It is committed to improving women’s lives through greater access to and use of financial services.
HerVest is driven by the vision that everyone irrespective of gender, race, religion, or socioeconomic status deserves equal and easy access to wealth-building opportunities. Through a blended finance model and digital technology, it provides access to credit, inputs, training, and premium markets for smallholder women farmers in Nigeria.
With a thriving network of over 30,000 community members, it is building a safe community for women to learn, network, build wealth and grow their businesses.
Solape Akinpelu, is the CEO and co-founder of HerVest. She is a highly accomplished business leader and gender-finance expert. She serves as the Global Co-Chair of Marketing for the Women in Tech Global Movement, and as the Country Manager for Nigeria. She is also the Chairman of Technology at the Nigerian-British Chamber of Commerce, promoting technology trade and investment between Nigeria and Britain.
MONEY AFRICA
Money Africa is a personal finance platform that has trained over 10,000 women in Investing and Financial Planning.
The organisation is passionate about bridging the inequality gap through information and empowerment, thereby helping people strive toward financial independence. They understand the plight of Africans, especially women, who face obstacles in starting and growing businesses and have pledged to empower them through information
Money Africa is a personal finance platform that teaches people to build healthy financial habits, cut down on unnecessary expenses and generate multiple income streams. The organisation’s purpose is to teach people all that they need to know about finance and investments to enable them to make informed decisions and take their respective financial and investment journeys to the next level.
Oluwatosin Olaseinde is the Founder of Money Africa. Financial literacy and investments are at the core of her passion as she creates the tools to democratize access and means of wealth building for Millenials and Gen Z in the long term.
SHECLUDED
Shecluded was established in 2019 with a mission to get more money into the hands of women.
2 years after inception, the company grew from 2 to 10 employees and the client/community size is over 10,000 women.
Shecluded empowers career women and female entrepreneurs by offering them financial services and financial education (via the company blog). The company offers wealth advisory services and several loan options including growth loans and laptop loans.
The impact of this company has gone beyond Nigerian borders. Shecluded became a UK Tech Hub Company in 2020 and was recognised by the NASDAQ Entrepreneurial Centre Shecluded was selected as one of the thirteen Spring 2021 Milestone Makers.
Shecluded is consistently coming up with new loans and projects geared towards female financial empowerment in Nigeria, Africa, and across the globe. Ifeoma Udoh, the founder of the company took the initiative and built a “table” where over 10,000 women can sit with “chairs” still available for many more.