Piggyvest has acquired Savi.ng, a wealth management app in a means to expand its Nigerian base. The acquisition is expected to help PiggyVest play a bigger role in wealth management, a growing segment of the Fintech industry.
Piggyvest saw tremendous growth last year even with the pandemic and was able to pay back N90 billion to their users in 2020. This number has already been surpassed in the first half of 2021.
Earlier this year, Piggyvest began discussions to acquire Savi.ng and all its assets. Until the acquisition, Savi.ng allows users to save through various features like automated savings, fixed deposits, joint savings, and PAYE.
For the existing Piggyvest users, nothing changes, everything continues to work as normal. Piggyvest will continue to provide its users with the best savings and investment options that they can, and the users will continue to be a part of the community of 3 million people and counting in the Piggyvest family.