Piggyvest, one of Africa’s leading savings and investment platforms with over 5 million users, has announced that it crossed ₦2 trillion ($1.25 billion) in total payouts to Piggyvest users since its inception in 2016. This milestone comes two years after it crossed the ₦1 trillion mark. The fintech shared it paid out over ₦835 billion to its users in 2024, a 53% increase from its total payout in 2023.
“2024 was an amazing year,” Somto Ifezue, CEO and Co-Founder of Piggyvest said. “It was our most profitable year, one of the years we achieved the most growth, and our most focused year as a company. It was also a year that tested our resolve in the face of economic challenges, but we remained steadfast and continued to deliver value to our users.”
The company also shared that it increased Piggyvest’s Assets Under Management by 76% last year. This rapid increase was further evidenced by the platform’s user activity, with savings and investments reaching a staggering ₦44,000 per second by year’s end.
“It’s an encouraging sign that Nigerians remain resilient in taking control of their finances and planning for a more secure future,” Ifezue added.
Read also: 43% of Nigerians don’t save or have stopped saving, according to Piggyvest 2024 Savings Report
To capitalize on its widespread adoption, the startup will unveil a new budgeting and money management feature later this year.
“Many 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.
