Fintech player comps: Afrobeats Edition

From PiggyVest to PalmPay, we matched fintech royalty with Afrobeats icons.

If you missed Friday’s uber-popular newsletter, catch up here.

This week’s merch winners are Tolu Grey, Tissy and Wemi. Please email me to claim your loot!

TOGETHER WITH CREDIT DIRECT

Not every side hustle is worth the hassle.

Why settle for pocket change when your money can pull real weight?

With Fixed Yield, you can earn up to 21% per annum on the Credit Direct App.

Fintech Meets Afrobeats: A Completely Unserious Comparison

Since I read a rather hilarious newsletter comparing American fintech startups to NBA players (Chime is Luka Dončić, for example), I’ve been itching to do a Nigerian version. But not a lot of Nigerians watch the NBA, so that idea died on arrival.

Then, while reading yet an article about Jumia, it finally clicked.

What if we compared Nigerian fintechs to Afrobeats stars—arguably our most successful cultural export of the past decade?

It immediately felt right. Not only because it’s fun, but because it lets me annoy two sectors at the same time. You don’t get to do that every day.

Anyway, this is all very unserious analysis. Please don’t flag me down on my morning run asking me to change my choices. I will not.

Flutterwave – Burna Boy

Loud. Global. And very aware of it. Has played every big stage, raised a ton of money, and sees itself as the one taking African fintech to the world. Corporate but chaotic, polished but always one controversy away from trending. You don’t have to like it, but you will respect the reach and body of work.

Paystack – Wizkid

The cool kid. Doesn’t raise its voice, but everything it drops gets replayed. Signed to a global heavyweight (Stripe), but moves like it’s still indie.

The public is divided over the merit of its most recent project, wondering if it’s doing enough to stay relevant or just coasting on past successes. Will we look back ten years from now and eat our words about Morayo/Zap?

Moniepoint – Davido

With its recent raise and valuation, Moniepoint is firmly in the money. They’ve got the numbers, the receipts, and the distribution.

Like Davido, they were born into access (TeamApt did the enterprise rounds first), but reinvented themselves for mass appeal. Now they own it and can claim 001 status.

Also like Davido, they’ll collaborate with anyone. Payroll, lending, POS, SME banking; it’s all one profitable verse.

OPay – Odumodublvck

Everyone swears they don’t use it, yet it keeps showing up in the year-end replays.

You might say it’s not for you. Too loud. Too chaotic. Too… much. But somehow, it's everywhere: on your street, on your phone, in your downloads. OPay has turned ubiquity into strategy.

Like Odumodu, it plays by its own rules. The critics may not get it, but the streets? Fully locked in.

Fincra – Yemi Alade

Proper Mama Africa.

After a successful home run, Fincra’s now popping up in every other African country, chasing pan-African dominance. You may not see them on every Lagos fintech panel, but check the East African charts, they’re there.

LemFi – Rema

One of the biggest outside the Big Three.
A string of fundraises and momentum suggests the Big Three might soon become a Big Four. LemFi’s been so successful, everyone and their cousin now wants in on remittances. As with Rema, the sound is global, but the energy still feels local.

PiggyVest – Ayra Starr

You know you’ve blown past PMF when your users start giving themselves ridiculous nicknames (no offence Mobstarrs).
PiggyVest is practically synonymous with saving money in Nigeria, and with five million customers and counting, fans will throw hands if you criticise their queen. Best keep your opinions to yourself if you don’t want the smoke.

Interswitch – Tiwa Savage

The original superstar.
Charting since day 1. Still has hits. Still gets respect. And when the story of Nigerian fintech gets told, Interswitch will get its flowers. The new kids might be louder, but the OG is still doing its thing and profitably too.

ALAT – Mr Eazi

The one who made digital cool, at least for a while. ALAT was Nigeria’s first all-digital bank, just like Mr Eazi was the first to fully package Banku music and sell it cross-border. The early hype and hits were real. But then… it got quiet. Newer acts showed up with louder energy.

Still a strong product, but the early excitement is gone. But credit where it’s due: they did it first.

Eyowo – Maleek Berry

Remember when it felt like they were next?
Clean design. Cult following. Strong industry respect. Eyowo was once a breakout darling, especially among the design-forward, creative-class crowd. But after the early promise came… silence. We still have promises of a comeback for both of them, and Maleek Berry just dropped a new project. Let's hope that the same happens for Eyowo as well.

Jumia – D’banj (Couldn’t resist adding Jumia!)

Found early success by ignoring doubters and riding the wave of a new category.
Was one of the first to crossover to the U.S. which, on paper, should’ve cemented its legend. But things slowed down after the crossover, and the hits never quite reached that early peak. Still here, still performing, but everyone knows: the best days are behind.

Kuda – Asake

Came in hot and disrupted everything.
One day, nobody’s watching. Next, it’s sponsoring Big Brother Naija, blowing past 5 million users, the whole works.

A move to another market may have cooled early excitement, but there’s no denying its success. And you know they have the potential to make something happen.

FairMoney – Zlatan

Started in the trenches. FairMoney made its name in the “customers fit no pay you back” world of digital lending. But it’s cleaned up well, expanded into banking, and now wears a suit with a slight swagger. Still carries a little of that "street energy" underneath the polish, which helps explain the staying power.

Paga – Don Jazzy

Not really in the headlines, but always in the room. One of the original architects of the scene. Didn’t just make hits but also helped build the ecosystem others thrive in today. Paga’s agent network laid the groundwork for financial inclusion in Nigeria, much like Don Jazzy’s Mavin dynasty nurtured some of the biggest Afrobeats acts out there.

Cowrywise – Ladipoe

Critically respected, stylish and intentional. Cowrywise was early to the structured savings game, and it shows. Everything from the brand voice to the charts in the annual report is giving "I studied this." It knows what it is and sticks to it. The people who rate Cowrywise really rate it. The rest? They’ll catch up eventually…or not. And Cowrywise is fine either way.

Busha – ShowDemCamp

Started when most people weren’t sure why Nigeria needed a rap duo.
Busha launched at a time when crypto felt like a fringe obsession. No flashy gimmicks, just clean execution and a calm, deliberate voice in a very loud room. Over time, it’s won users over with consistency, staying power, and quiet confidence.

Like SDC, it’s expanded beyond a niche crowd and is arguably mainstream now, without ever losing its original cool.

I couldn’t decide who fit the role of Tems but feel free to tell me in the comments. See you next week!