Waya Bank
“Can a full-stack Nigerian neobank serve both personal and SMB customers in one app, including in offline/rural contexts via USSD?”
Founded2019
HQLekki, Lagos, Nigeria
Latest roundSeed, $5M
IndustryFintech / Neobank
The story
WayaBank is a Nigerian digital bank operated by Waya Multilink Technology Ltd, headquartered in Lekki, Lagos. It positions itself as a full-stack neobank for both personal and business customers, offering accounts, transfers, bill payments, USSD banking, ATM cards, POS/agency services, and loans. It is part of the WayaLinks group alongside WayaGram (social) and WayaQuick (payments/POS).
Last 12 months
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Product timeline
2019
Waya Multilink Technology Ltd founded in Nigeria to build digital banking services.· banking
2020
Wayabank mobile app (Waya PayChat) launched with initial privacy policy effective December 2020.· banking
2022
Engineering team expansion including Flutter/mobile engineers building Wayabank, Wayaram, WayaQuick, and WQR Scanner apps.· banking
The stack
3 layers disclosed in Waya Bank’s embedded-finance stack
Payments / PSP
Banking / BaaS
in the full report
Lending
in the full report
Accounting gap: significant
4 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.