See Africa’s fastest-growing fintech companies in 2025, featuring Nigeria’s 7

Financial Times’ Africa’s Fastest-Growing Companies 2025, ranked by Absolute Growth, Compound Annual Growth Rate (CAGR, %), Revenue 2023 [in $mn], Revenue 2020 [in $mn], Employees 2023, Employees  2020, and Founding Year, published on May 13, 2025, is out.

Nigeria’s fintech landscape, characterised by rapid mobile penetration and a young, tech-savvy population, has produced global contenders like Moniepoint, PalmPay, and Flutterwave, which have previously featured in the FT’s Africa’s Fastest Growing Companies list.

The significance of Nigerian fintech platforms extends beyond domestic borders, contributing to job creation, foreign investment, and economic resilience. Nigerian firms are, indeed, writing their own.

FT says their inclusion proceeded the following criteria:

• Revenue of at least US$100,000 generated in 2020 (1);
• Revenue of at least US $1.5M generated in 2023 (1);
• An independent company (not a subsidiary or branch office of any kind);
• Headquartered in an African country (2);
• Revenue growth between 2020 and 2023 that was primarily organic (ie “internally” stimulated).

Financial Times’ Africa’s Fastest-Growing Fintech Companies 2025:

Paga Group LTD (96)

Paga Group Ltd, a Nigerian fintech pioneer, has secured a spot on the Financial Times’ Africa’s Fastest Growing Companies 2025 list for the third consecutive year, reflecting its robust growth and impact.

Founded in 2009, Paga has evolved from an agency banking platform into a dynamic ecosystem comprising Paga Consumer, a mobile payment app; Doroki, an SME-focused retail platform; and PagaTech, which provides digital infrastructure for businesses.

With a revenue CAGR of over 50% from 2018 to 2021 and net income profitability achieved in 2024, Paga’s innovative approach, leveraging Nigeria’s National Identity Number and Bank Verification Number for enhanced KYC, has digitised cash and simplified payments for millions across Africa.

This recognition underscores Paga’s commitment to financial inclusion, serving a diverse user base through its scalable, multi-currency payment engine.

Comercio Partners Ltd (75)

Comercio Partners Ltd, a Lagos-based Nigerian investment firm, has been recognised on the Financial Times’ Africa’s Fastest Growing Companies 2025 list for the fourth consecutive year, showcasing its sustained growth in the financial services sector.

Established in 2016, the firm specialises in trading fixed income securities and equities, offering financial advisory and asset management services to domestic and international investors in Sub-Saharan Africa.

Its TradeFi mobile application, launched in 2018, enables retail investors access Federal Government of Nigeria Bonds and Treasury Bills, contributing to its revenue growth and earning endorsements from FMDQ, Nigeria’s financial market infrastructure group.

This accolade reflects Comercio Partners’ resilience in navigating Nigeria’s complex economic landscape, with achievements like the 2020 Businessday BAFI Awards for Investment Bank of the Year in Growth Stage Companies and Sustainable Infrastructure.

United Capital Plc (57)

United Capital Plc, a leading Nigerian investment bank and pan-African financial services group, has a robust suite of services including investment banking, asset management, and wealth management.

The company achieved a 71% year-on-year increase in gross earnings to 45.90 billion naira in 2023, driven by innovation and digital transformation. Its strategic expansion, including a microfinance banking licence from the Central Bank of Nigeria, positions United Capital as a trailblazer, serving corporations, governments, and individuals across Nigeria, Ghana, and Côte d’Ivoire while fostering economic growth.

Emerging Africa Capital Ltd (46)

Emerging Africa Capital Ltd, a Nigerian financial services firm, offers a suite of services including asset management, venture capital, and financial advisory, focusing on connecting investors to high-return opportunities across Africa.

Emerging Africa Capital has leveraged Nigeria’s growing demand for innovative financing solutions, serving corporates, SMEs, and individuals while navigating currency fluctuations and regulatory complexities.

The firm’s inclusion in the FT list reflects its strategic focus on sustainable growth and economic impact. The company claims to provide tailored financial products and support multi-generational family businesses.

Emerging Africa Capital addresses critical market gaps, fostering wealth creation and legacy planning. With operations expanding through subsidiaries like EA Asset Management and EA Venture Capital, the company is poised to further influence Nigeria’s financial sector, capitalising on the continent’s economic potential despite global headwinds.

Company Name	Brand	Absolute Growth (in %)	Compound annual growth rate (CAGR,%)	Revenue 2023 (in $M)	Revenue 2020 (in $M)	Employees 2023	Employees 2020	Founding year
Paga Group LTD	Paga	101.1%	26.2%	65.97	54.80	217	447	2009
Comercio Partners Ltd	Comercio Partners	161.0%	37.7%	7.79	4.99	50	27	2016
United Capital Plc	United Capital Plc	256.5%	52.8%	72.25	33.86	166	35	2003
Emerging Africa Capital Ltd	Emerging Africa Capital Group	311.7%	60.3%	5.55	2.25	110	26	2018
Alpha Morgan Capital Managers Ltd	Alpha Morgan Capital	753.3%	104.3%	16.31	3.19	59	50	2012
Moniepoint Inc	Moniepoint	1663.4%	160.3%	264.51	15.00	1,686	216	2015
PalmPay Ltd	Palmpay	31850.0%	583.6%	63.90	0.20	1,093	87	2017

Alpha Morgan Capital (24)

Alpha Morgan Capital Managers Ltd, a Nigerian asset management and investment banking firm, has earned a place on the Financial Times’ Africa’s Fastest Growing Companies 2025 list, marking its third consecutive year of recognition.

Established in 2012, the firm manages over 120 billion naira in assets and offers services like stockbroking, private banking, and financial advisory, achieving a notable ranking in 2023 as 4th in financial services, 4th in Nigeria, and 17th in Africa.

Its consistent growth, driven by a team with over 52 years of combined experience, has solidified Alpha Morgan’s reputation as a trusted wealth management player.

Innovations like the Alpha Morgan Invest App and a BBB(IM) rating from Agusto & Co. highlight its commitment to technology and financial stability, positioning it as a key contributor to Nigeria’s fintech ecosystem despite economic challenges.

Moniepoint Inc (16)

Moniepoint Inc, a leading Nigerian fintech, has earned a prominent place on the Financial Times’ Africa’s Fastest Growing Companies 2025 list, reflecting its explosive growth and transformative impact on financial inclusion.

Founded in 2015, Moniepoint provides a comprehensive platform for digital payments, banking services, and credit solutions, primarily targeting small and medium-sized enterprises (SMEs) and underserved communities.

With a revenue CAGR exceeding 60% from 2020 to 2023, Moniepoint reportedly processes over $10 billion in monthly transactions, serving millions through its network of agents and digital channels across Nigeria and expanding into markets like Kenya.

Its success stems from innovative products like Moniepoint Microfinance Bank. Recognised as Nigeria’s fastest-growing company in the FT’s 2024 ranking and backed by a $110 million equity raise in 2024, Moniepoint is poised for further expansion, aiming to digitise payments and enhance economic empowerment across Africa.

PalmPay Ltd (2)

PalmPay Ltd’s inclusion highlights its explosive growth since its founding in 2017. Operating as a mobile payment platform, PalmPay serves over 35 million users with services like money transfers, bill payments, and savings, driving financial inclusion in Nigeria’s underbanked communities.

With a revenue CAGR exceeding 60% from 2020 to 2023, its robust infrastructure, including a network of 1.2 million businesses processing 15 million daily transactions, has solidified its position as a market leader.

Backed by Transsion Holdings and NetEase, PalmPay leverages strategic partnerships, such as pre-installation on Tecno, Infinix, and Itel phones, to expand its reach across 10 African countries.

Despite facing regulatory scrutiny, including a fine from the Central Bank of Nigeria, its focus on security, mandating BVN or NIN for KYC, and innovations like USSD banking (*862#) ensure accessibility.

This FT recognition underscores PalmPay’s role in transforming Africa’s digital economy, rivalling peers like Paga while empowering millions with seamless financial solutions.