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PiggyVest

“Can Nigeria's largest consumer savings app extend its trust and rails into a multi-product financial super-app spanning consumer savings, social-commerce payments, and SMB banking?”

Founded2016
HQLagos, Nigeria
FoundersSomto Ifezue, Odunayo Eweniyi, Joshua Chibueze
Total raised$1.1M+ (disclosed)
Latest roundSeed, 2018
IndustryFintech / Consumer banking
The story

PiggyVest began in 2016 as Piggybank.ng, a single-product automated savings app for low- and middle-income Nigerians. In 2019 it pivoted into a savings + investment app, broadening into mutual funds, fixed-income and dollar-denominated savings. More recently it has fanned out into adjacent embedded-finance verticals: Pocket by PiggyVest (social commerce payments + insurance via Curacel) and PiggyVest Business (SMB wallets, virtual accounts, scheduled payments, APIs). The company now operates as a consumer financial super-app and a quietly emerging BaaS-like platform for Nigerian SMBs.

Last 12 months
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Product timeline
0
Launched Pocket by PiggyVest — P2P/C2B social commerce payments app.· pivot
0
Launched PiggyVest Business (PVB Technology Limited) — SMB wallet/accounts/API platform.· banking
0
Launched Flex Dollar virtual USD accounts via Oval Technologies (Graph Finance) IMTO license.· banking
2016
Launched as Piggybank.ng — automated savings-only platform for Nigerians.· banking
2018
Raised $1.1M seed; launched Smart Target group savings; acquired a microfinance bank license.· banking
2019
Rebranded to PiggyVest and added direct investment products.· pivot
Regulated entities
2
regulatory licences held by PiggyVest
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in PiggyVest’s embedded-finance stack
Payments / PSP
PiggyVest wallet (self-operated)Pay with Pocket (self-operated)
Banking / BaaS
in the full report
FX & payouts
in the full report
Accounting gap: minor
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.