Piggyvest is an online savings and investing platform that allows poor and medium class Nigerians to deposit and save modest sums on a daily, weekly, or monthly basis. It was first launched in 2016 as Piggybank before being rebranded in 2019.
The business has seen rapid growth, returning billions of naira to its consumers and exceeding its 2020 projections in the first seven months of 2021, and is now ready to go on to the next stage of its development.
“The first half of 2021 has been an intense building period for the entire Piggyvest team,” the startup said in a statement.
“Earlier this year, we began discussions to acquire a savings and investment company, Savi.ng and all its assets and we are more than proud to announce today that the acquisition is now completed.”
Savi.ng was a wealth management software that allowed users to save using features including automatic savings, fixed deposits, shared savings, and PAYE until it was acquired in 2018. All existing Savi.ng users will be moved to Piggyvest instantly.
“Our vision remains the same, financial freedom for all, and with this acquisition, we are a step closer. We believe in a connected ecosystem and our mission to give everyone the power to better manage and grow their finances remains ever strong,” Piggyvest said.