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How FairMoney Is Powering Financial Inclusion for Nigerian Hustlers
Urbanization is reshaping Nigeria’s economic landscape, creating new possibilities for millions of young people who relocate each year in search of opportunity. Cities like Lagos, Kano, and Abuja continue to expand as ambitious Nigerians leave their hometowns with the hope of building stable, sustainable livelihoods. Recent figures highlight the pace of this shift. As of 2024, more than half of…
FairMoney Broadens Product Offering to Support Nigeria’s Financial Inclusion Goals
FairMoney Microfinance Bank, a rapidly growing digital financial services provider in the Nigerian fintech space, is spearheading a significant paradigm shift in the country’s digital finance sector, moving beyond its foundational digital lending services to champion comprehensive financial inclusion and full financial identity for the masses. While instant credit remains a vital service, the…
TLcom Capital's pre-seed Fund, TAPSI, reaches 50% mark with new investment in TurnStay
TLcom Capital, the Africa-focused venture capital firm, is growing its early-stage portfolio from its dedicated $5M pre-seed fund, TAPSI (TIDE Africa Pre Seed Investments). With its most recent investment in TurnStay, the South African travel payment platform, which has just closed a $2M seed round, TAPSI has now deployed 50% of its capital. TAPSI was launched in 2022 to extend TLcom’s investment…
Court Orders Freezing Of Opay, PalmPay, FairMoney Accounts Over Unlawfully Transferred N139.6m
The Federal High Court in Abuja on Monday issued an interim freezing order against several accounts in Fair Money Microfinance Bank Ltd, Palm Pay Limited, and Opay Digital Services Limited, directing the organizations to reverse N139,630,000 credited to some of their customers and account holders as a result of a “system glitch” at TAJ Bank Ltd. The order was made following a motion ex parte…
Nigerian credit-led fintech FairMoney acquires PayForce in retail-merchant banking play
Nigerian credit-led digital banking platform FairMoney has acquired PayForce (sub-brand of YC-backed CrowdForce), a merchant payment services that serves small businesses, as the digital lender looks to broaden its financial services proposition to merchants. Both startups declined to disclose the terms of the deal. However, according to sources, the transaction was a cash-and-stock deal in the…
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FairMoney increases Savings Interest Rates on FairLock to 26%
FairMoney increases Savings Interest Rates on FairLock to 26%
With the launch of its brand-new product, FairLock, leading credit-led digital bank FairMoney Microfinance Bank hopes to assist Nigerians in achieving their objectives more quickly. Customers may safely lock their money with FairLock, a new fixed-term deposit product from FairMoney, and receive significant interest returns. FairLock boasts of having the greatest interest rates on the market, with…
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