Nigerian Fintech Giants Shine In CNBC’s 2025 Global Top Fintech List.
Five Nigerian fintech companies—PalmPay, Moniepoint, OPay, Piggyvest, and Interswitch—have secured spots among the world’s top 300 fintech firms for 2025, as recognised by CNBC and Statista. The prestigious ranking, announced on 17 July 2025, highlights the remarkable growth and innovation of Nigeria’s fintech sector, cementing its status as a key player in the global financial technology landscape.
The CNBC and Statista list, compiled through rigorous desk research and editorial input, evaluates companies based on key performance indicators such as revenue, growth, and employee headcount. PalmPay, Moniepoint, OPay, and Interswitch were celebrated in the payments category for their innovative solutions that facilitate seamless transactions for individuals and businesses. Piggyvest, meanwhile, stood out in the wealth tech category, offering digital tools for savings, investment, and portfolio management tailored to Nigeria’s young, tech-savvy population.
PalmPay, a leading neobank, has solidified its position with over 35 million registered users and 15 million daily transactions across its markets, including Nigeria, Ghana, Tanzania, and Bangladesh. Sofia Zab, PalmPay’s Founding Chief Marketing Officer, described the recognition as “a powerful affirmation of our mission to build a more inclusive financial system,” emphasising the company’s focus on bridging financial access gaps through its user-friendly app and extensive network of over one million agents and merchants.
Moniepoint, listed as a UK company due to its incorporation but primarily operating in Nigeria, was also lauded for its transformative impact. Processing over one billion transactions monthly with a total payment volume exceeding $22 billion, Moniepoint serves millions through its digital banking, credit, and payment solutions. Group CEO Tosin Eniolorunda called the inclusion “an honour,” crediting the achievement to the team’s hard work and dedication to shaping the future of fintech globally.
OPay, valued at $2 billion, continues to dominate with over 50 million users and one million merchants, processing $12 billion in monthly transactions. Its comprehensive platform offers payments, transfers, savings, and loans, earning it a spot on the list for its role in driving Nigeria’s cashless economy. Interswitch, a pioneer since 2002, supports over 30 million users with its Verve card and Quickteller platform, while Piggyvest’s five million users benefit from its savings and investment tools, with payouts reaching NGN 2 trillion since its inception.
Despite Nigeria’s vibrant fintech ecosystem, with over 430 companies, the country’s representation remains modest compared to the United States, which leads with 126 firms, followed by the UK with 38 and Singapore with 16. Nigeria’s five entries underscore its growing influence, though Moniepoint’s UK listing highlights complexities in global categorisation. The Central Bank of Nigeria’s regulatory support has been pivotal, though challenges like inflation and cybersecurity persist.
The recognition comes amid a surge in Nigeria’s digital payments, with mobile money operators, including PalmPay and OPay, processing N71.5 trillion in transactions in 2024, a 53.4% increase from the previous year. This growth, driven by a young population and increasing smartphone penetration, positions Nigeria as a fintech powerhouse. As these companies expand across Africa and beyond, their inclusion in CNBC’s 2025 list signals a bright future for Nigeria’s role in global financial innovation.
