Piggyvest, a household name in Nigeria’s fintech industry, has been making waves with its recent achievement of paying out ₦835 billion to customers in 2024. This impressive feat marks a significant milestone as the platform has now surpassed a total payout of ₦2 trillion since its inception.
**A Year of Success and Growth**
In an exclusive interview, Somto Ifezue, the CEO and co-founder of Piggytech Global Limited, shared his excitement about the company’s performance in 2024. He described it as their most profitable year yet, highlighting substantial growth and a sharp focus on delivering value to customers. The success story doesn’t end there—Piggytech also owns PocketApp, which recorded over ₦1 trillion in transaction volume during the same period.
**Customer-Centric Approach**
Ifezue attributes Piggyvest’s remarkable growth to their unwavering commitment to customer service and satisfaction. By fine-tuning interest rates to meet market demands and constantly enhancing user experience, Piggyvest has succeeded in attracting millions of users who have collectively saved an astounding amount on the platform.
According to Ifezue,
“Every milestone we achieve stems directly from our focus on serving our users better.”
This customer-centric philosophy has not only cemented Piggyvest’s position as a leader in the industry but has also fueled a significant increase in assets under management—a staggering 76% growth rate was reported for 2024.
**Empowering Users Through Innovation**
Looking ahead to 2025, Piggyvest is gearing up to launch a budgeting tool aimed at helping customers manage their finances more effectively. Recognizing the struggles faced by many individuals whose salaries often fall short before month-end, Ifezue expressed his dedication to offering solutions that promote financial wellness among users.
The evolution of Piggyvest’s business model showcases its adaptability and innovative spirit. From its humble beginnings as a savings platform with limited withdrawal options, Piggyvest has expanded its services by introducing Pocket for consumer payments and Piggyvest Business—a point-of-sales solution designed for retail establishments.
**Strategic Expansion Plans**
With three critical licenses under its belt—a fund manager license from SEC, a mobile money license from CBN, and a microfinance bank license—Piggyvest is strategically positioned to venture into new territories such as money management services and credit offerings for Nigerians. This strategic move underscores the company’s ambition to diversify its product offerings while staying true to its core mission of empowering users financially.
As we reflect on Piggyvest’s remarkable journey so far—from surpassing trillions in payouts to pioneering innovative financial solutions—it is evident that this fintech powerhouse is not just transforming lives but revolutionizing Nigeria’s financial landscape one payout at a time.
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