Steve Agbota 

Online savings and investment platform, Piggybank.ng, has announced its evolution from Piggybank.ng to PiggyVest – a much broader and holistic financial management platform.

According co-founder and Chief Operating Officer, Odunayo Eweniyi, the name change represents PiggyVest’s determination to ensure that its services continuously evolve with the needs of its customers. “They are confident that it will allow them to incorporate a dynamic range of new products into their offerings; to enhance the access their customers have to a variety of financial service solutions; and to ultimately deepen the value they provide to their customers,” he stated.

Piggybank.ng was launched in 2016, as a savings product. Over the years, it has introduced innovative products, from savings tools like Safelock, Target and Group Savings, and PiggyFlex, to insurance products like AvonFlex, as well as others, like the newly-launched TrackIt, which aids customers in becoming more effective at financial management. In May 2018, the company closed $1.1 million in seed funding for license acquisition and product development. 

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“We are building the future of savings and investments starting in Nigeria. So, we need a name that reflects that,” Co-founder and CEO, Somto Ifezue, said about the decision to change the brand’s name.

 Corroborating him, Eweniyi said, “our new identity is more than just a name change. We believe it captures the essence of our direction as a business and our focus on the needs of our customers. Our new name is symbolic of this direction and it provides a glimpse into the exciting things the future has in store for us and our customers.”

Over the years, Piggybank.ng has grown its community to over 195,000 registered individuals who currently save over N1 billion monthly, and as stated by Joshua Chibueze, Co-founder and Chief Marketing Officer, “we are committed to providing the best for our customers when it comes to financial management, and PiggyVest is a truly comprehensive solution that will surely deliver on these promises to a broad range of users.”

As part of its expansion plans, PiggyVest will be developing and including more financial features to make the platform more robust and primed to reach more users across the continent, and eventually, the world.