FinTech unveils app to promote saving, investment culture

A fintech company, Crowdyvest Ltd., says it has re-launched its mobile app to assist build a saving and investment culture among Nigerians. Tope Omotolani, Chief Executive Officer, Crowdyvest, disclosed this in a statement on Wednesday in Lagos. Omotolani said that the company was poised to assist customers conduct various financial activities that would help them plan their lives and make their financial goals possible through their smartphones and devices.

According to her, the platform has introduced Crowdyvest Yield, a revamped fixed income product that allows investment in short and long term plans, projects and commodity-specific types of offer in different sectors. “The features will give its members a variety of suitable plans to help build a savings and investment culture based entirely on their capability with product prices as low as N1,000 and returns up to 25 per cent per annum,” she said. She added that the firm had partnership with pre-vetted impact partners. Omotolani noted that Crowdyvest had partnered with UBA Pensions Custodian Ltd and Parthian Security Ltd, to ensure proper fund utilisation, transparency and compliance.

She said that the partnership was to give more comfort to their clients and ensure safety of funds. “As we work with organisations in different sectors to power viable and impact-driven projects through the funds we raise from our members, a symbiotic interdependence is created, leading to financial and economic growth for all. We believe this partnership is needed to foster growth and create more opportunities for Africa,” she said. Omotolani noted that Crowdyvest had grown its user base from 50,000 customers to 140,000 customers in  eight months, with a cumulative transaction value of more than 35 million dollars.