In today’s FinTech news, PiggyVest brings a new type of digital savings and investing to Nigerians, while the underbanked in Pakistan get a new option with NayaPay. France’s Finary is moving to build a private bank and HandCash app is making top-offs easier with two new payment integrations.
PiggyVest Seeks to Boost Consumer Savings and Investment in Nigeria’s ‘Low Trust Environment’
Digital savings and investment platform PiggyVest launched in 2016 with a goal of initially reaching 1,000 users in Nigeria. The startup now has over 4 million users and a growing trust from a country that doesn’t give trust away, PiggyVest told PYMNTS in an interview. Customers have been drawn to the bank’s different model —asset under management — because PiggyVest said the interest rates it offers are higher than any other bank or financial institution.
FinTech NayaPay Lands $13M Seed to Grow Platform for Pakistan’s Underbanked
Over 50 million adults in Pakistan are unbanked and just 33% of women in the country have a bank account. NayaPay sees the chance to change that with its digital banking platform. It also sees growth opportunities in the under-35, mobile-first generation that makes up 70% of the population.
French Startup Finary Raises $9M Series A to Reinvent Private Banking
As a comprehensive aggregator, Finary empowers investors to track all their holdings — bank accounts, real estate, crypto, stocks — and get a thorough blueprint of their wealth. Now the French company is planning to build a private digital bank and is also planning a crowdfunding campaign.
HandCash App Integrates Circle, Fabriik Tools To Offer Top-Ups
HandCash app is integrating Circle and Fabriik to give users the ease of topping up their accounts within the app. The collaboration led to a new fiat ramp system, which HandCash is launching with its version 4.0 update on Friday (Feb. 25) in the U.S. before expanding to Europe and Mexico.
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