Cowrywise: A Fintech Startup Promoting Savings and Investment Culture In Nigeria
Cowrywise is a leading fintech company in Nigeria that makes savings and investments accessible to users. The platform was founded in 2017 to make financial planning easier for the average Nigerian. Presently, Cowrywise is one of the trusted fintech startups fostering savings and investment culture in the country.
Cowrywise was founded by former investment analysts Rasaq Ahmed, and Edward Popoola. Rasaq observed in his work as an investment analyst that fund managers serve only a small portion of the population – the wealthy. He, however, saw the gap in the market and opened the door to more people, mostly young, tech-savvy people, focused on preserving wealth. Rasaq teamed up with his college friend, Edward Popoola to build Cowrywise as an asset management platform.
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Cowrywise enables users to save and invest through its simple digital planning tools and options made available. Recurring savings and investments are automated so users avoid procrastination and get in the habit of making those small changes that will help with wealth building and management.
The company’s goal is simple; to personalize the financial management experience and create opportunities for businesses and individuals to save and invest. Users can not only see their net worth and where their investments are, but they also get financial advice and investment opportunities that they can take advantage of.
Cowrywise allows individuals to follow a few simple steps to save and invest on the platform. Once registered, individuals can add their bank details and other requested information. They can also choose from the various goal plans available or create a unique plan of their own. App users can also invest in mutual funds, choose investment plans and enjoy various tips to improve their financial knowledge.
To meet business needs, Cowrywise provides a feature called “germ,” which helps with money management. Businesses can easily invest excess money and get a return on their investment.
Since starting operations in 2017, Cowrywise has attracted top investors including YCombinator, Catalyst Fund, SHL Capital, Microtraction, and others. It has raised a total of US$3.3 million, the latest being in January 2021.
Cowrywise made the list of “50 startups that change the world in 2019,” amongst other recognitions.
You can access the platform on www.cowrywise.com