Renmoney
“Can a CBN-licensed Nigerian microfinance bank become the embedded credit and digital banking layer for the country's under-banked consumers and SMBs?”
Founded2012
HQ23 Awolowo Road, Ikoyi, Lagos, Nigeria
Latest roundDebt
IndustryFintech / SMB banking
The story
Founded in 2012 as RenCredit, a consumer-focused micro-lending startup in Nigeria. Converted to a licensed Microfinance Bank (Renmoney Microfinance Bank Limited), enabling savings and deposits alongside loans. Over the past decade, expanded from personal loans into a digital banking suite covering savings, bill payments, and SMB credit products. Most recently, moved toward embedded lending partnerships — supplying credit infrastructure to third-party fintech apps like Swipe — signalling a shift from pure-play consumer bank toward an embedded finance credit infrastructure provider in Nigeria.
Product timeline
2012
Founded as RenCredit, a consumer lending company targeting under-banked Nigerians.· lending
2015
Rebranded to Renmoney and obtained a microfinance bank license from the Central Bank of Nigeria, enabling deposit-taking.· banking
2022
Expanded product suite to include savings, investment products, and digital banking services.· banking
2024
Partnered with Swipe to launch SwipeFlex, an embedded instant-lending product for Swipe's users.· lending
2024
Launched Renmoney Business offering LPO Financing, Invoice Financing, and Business Loans to SMBs.· lending
Regulated entities
Microfinance Bank License
Nigeria (CBN)
Renmoney Microfinance Bank Limited
The stack
Banking / BaaS
Lending
Accounting gap: minor