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FairMoney is a neobank based in Lagos, Nigeria. Founded in 2017,[1] it has rapidly grown to become one of the most prominent fintech companies in Africa, ranked 12th in the list of Africa’s Fastest Growing Companies 2024 published by the Financial Times.[2]
Overview
editFairMoney was founded by entrepreneurs Laurin Nakubo Hainy, Matthieu Gendreau, and Nicolas Berthozat. It launched a mobile lending service in Nigeria in 2017. In 2020, it expanded its service offering to India.[3]
In 2019, FairMoney raised $11 million in a Series A round of funding.[3] In July 2021, FairMoney raised $42 million in a Series B round led by Tiger Global Management and involving its prior investors such as Newfund, Speedinvest, Flourish Ventures and DST Partners.[4]
As of January 2024, FairMoney had over 6 million users in Nigeria alone.[5]
See also
editReferences
edit- ^ "FairMoney Announces Launch of an Improved Version of Its Mobile App Homepage". InvestorsKing. 4 March 2023.
- ^ David Pilling (14 May 2024). "The ranking: Africa's Fastest Growing Companies 2024". Financial Times.
- ^ a b Tage Kene-Okafor (18 February 2021). "With over 1.3 million users, Nigerian-based fintech FairMoney wants to replicate growth in India". TechCrunch.
- ^ Russel Ayugi (3 July 2021). "[Tech in Africa] FairMoney raises $42M in Tiger Global-led Series B". Flourish.
- ^ Delisha Fernandes (11 January 2024). "3 Neobanks offering advanced mobile banking services in Africa". IBS Intelligence.
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