Online savings and investment platform, Piggybank.ng, has completed the acquisition of Savi.ng, a wealth management app launched in 2018 that allowed users to save via various features like automated savings, fixed deposits, joint savings and PAYE.
Founded in 2016, Piggybank.ng is one of the largest online savings & investment platform in Nigeria, targeted primarily at low- and middle-income Nigerians, allowing them to deposit and put aside small amounts on a daily, weekly or monthly basis. In 2020, Piggyvest paid back N90 Billion to its users in the course of the year.
What does this acquisition mean?
Brand Spur gathered that for the existing 3 million Piggyvest users, nothing changes as everything will continue to work as normal. Piggyvest will continue to provide its customers with the best savings and investment options available within its function.
All existing Savi.ng users will be automatically migrated to Piggyvest. Piggyvest’s vision remains the same: financial freedom for all, and with this acquisition.
Piggyest’s parent company, Piggytech Global Limited, continues to grow with a suite of consumer-focused finance products.