First Ally
“Can a diversified Nigerian financial services group extend traditional investment banking, asset management, and microfinance into digital and embedded fintech distribution?”
Founded2014
HQLagos, Nigeria
IndustryFintech / SMB banking
The story
First Ally is a Nigerian financial services group founded in 2014, structured as a holding company with subsidiaries spanning investment banking, asset management, trustees, advisory, real estate, and microfinance banking. The group expanded into fintech via a 60% equity acquisition of Mines.io (Migo Nigeria). It operates as a diversified traditional financial group rather than an embedded-finance platform.
Last 12 months
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Product timeline
0
First Ally Capital acquires 60% majority stake in Mines.io (Migo Nigeria), a fintech lending platform.· acquisition
2014
First Ally Capital founded in Lagos as an independent financial services firm.· founding
Acquisitions
Regulated entities
1
regulatory licence held by First Ally
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in First Ally’s embedded-finance stack
Banking / BaaS
First Ally Microfinance Bank (in-house)
Lending
in the full report
Investing
in the full report
Accounting gap: none
3 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.