A new generation of Nigerian fintech startups is transforming how young people engage with the financial markets, democratizing access to investments once reserved for the wealthy elite.

With sleek mobile apps and simplified digital onboarding, companies such as Trove Finance, Bamboo, Cowrywise, RiseVest, I-Invest, and PiggyVest are fueling a surge of retail investors — particularly among Gen Z — who are eager to grow wealth in a volatile economic landscape.

“Retirement may seem far away,” reads one of Trove Finance’s online campaigns. “But for Gen Z, the earlier you start planning, the richer your future.”

A surge in retail participation

The results are dramatic. Retail trading volumes on the Nigerian Exchange soared by 88% month-on-month in July, reaching ₦516.5 billion ($351 million) — nearly one-third of all trades that month. While institutional investors still dominate, fintechs are credited with driving a steady influx of new retail buyers through seamless mobile platforms.

Traditional brokerage accounts once required minimum balances of up to ₦500,000, but fintech apps have reduced that threshold to ₦1,000. This shift has been supported by the new Investment and Securities Act, which replaced a 2007 framework and clarified the regulatory environment for online and digital assets.

“Youthful, dynamic, and decentralised”

Nigeria’s Securities and Exchange Commission (SEC) calls this digital evolution essential.

“The Nigerian economy is youthful, dynamic, and increasingly decentralised,” said SEC Director-General Emomotimi Agama. “With nearly three-quarters of the population under 24, we must engage them through the technology they understand.”

Platforms like PiggyVest, boasting more than 4 million users, and Cowrywise, with over 800,000, are expanding beyond savings into equities, mutual funds, and fixed-income investments. Trove and Bamboo have gone further by enabling fractional ownership of both Nigerian and global stocks, while RiseVest focuses on dollar-denominated assets as a hedge against inflation and naira devaluation.

A financial safety net for a volatile economy

For many Nigerians, the appeal lies in diversification and protection against local currency shocks.
After two major devaluations in 2016 and 2023, foreign-denominated investments have become a refuge for savers seeking stability.

“That was when I decided to diversify,” said Tekena Gbalafuma, a 29-year-old engineer who lost his postgraduate savings in the 2016 naira crash. “Now I invest in both Nigerian and international assets — it gives my portfolio balance.”

In 2024, the Nigerian Exchange All-Share Index gained 37.7%, followed by another 38.7% rise in the first nine months of 2025 — largely driven by domestic investors. Treasury bill yields have climbed above 24%, and commercial paper returns surpassed 30%, reflecting high interest rates and investor appetite.

Regulators adapt to innovation

The SEC has responded by launching FinPort, a digital interface to engage fintechs and streamline compliance. Similarly, the Central Securities Clearing System (CSCS) has created a custodian portal to enhance transparency in tracking digital investments.

“Digital transformation remains at the core of our strategy,” said CSCS CEO Haruna Jalo-Waziri. “We’re evolving to match users’ needs and industry innovation.”

Investors bet on Nigeria’s next unicorns

The fintech boom has also caught the attention of venture capital.
Following landmark successes such as Flutterwave (valued at over $2 billion) and Paystack (acquired by Stripe for $200 million), investors are backing Nigeria’s next generation of wealth-tech firms.

• Bamboo has raised $15 million, led by U.S. firms Greycroft and Tiger Global.

• Cowrywise counts Quona Capital and Y Combinator among its backers.

• PiggyVest has received funding from VFD Group and Flutterwave, while Trove emerged from Asset Resource Management’s incubator in Lagos.

Several platforms, including Bamboo and Chaka, have begun expanding beyond Nigeria, targeting other African markets under the banner of “building real wealth for Africans.”

A generational shift

The rise of Nigeria’s fintech-driven investing ecosystem marks a deeper cultural transformation: one where wealth creation is no longer limited to corporate elites or institutional players.

Through digital access, micro-investments, and global connectivity, Gen Z Nigerians are not just participants — they are reshaping the future of African finance.