Renmoney
“Can a CBN-licensed Nigerian microfinance bank become the credit and savings backbone for under-banked consumers and SMBs across Africa?”
Founded2012
HQLagos, Nigeria
Latest roundDebt financing
IndustryFintech / Lending
The story
Renmoney started in 2012 as RenCredit, a consumer microlender in Nigeria, before rebranding to Renmoney and expanding into a full digital microfinance bank licensed by the CBN and insured by NDIC. Its strategic shift was the move to Mambu's cloud-native core banking, which collapsed loan disbursement from days to minutes and let it scale past 500,000 customers and ₦2 trillion in cumulative loans. The Renmoney Business arm (LPO financing, invoice financing, business loans) and BNPL partnerships such as SwipeFlex position it as a credit-led embedded lender for both consumers and SMBs.
Last 12 months
Product timeline
0
Rebranded from RenCredit to Renmoney· pivot
0
Migrated core banking to Mambu, reducing loan disbursement from days to minutes· banking
2012
Founded in Lagos as RenCredit, providing microfinance lending in Nigeria· founding
2024
Partnered with Swipe to launch SwipeFlex BNPL/instant-credit product· lending
Regulated entities
2
regulatory licences held by Renmoney
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Renmoney’s embedded-finance stack
Payments / PSP
Bill payments & transfers (self-operated, NIP rails)
Banking / BaaS
in the full report
Ledger
in the full report
Lending
in the full report
Accounting gap: significant
7 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.