CowryWise launched in June of this year, but the work on the platform began in the middle of last year. The startup’s platform focuses on making personal savings, asset, and wealth management services available to all Nigerians.
The startup has officially begun by offering an automated savings platform that provides a high yield. Users can deposit their money through the platform and receive rates that are at least twice as good as the rates that Nigerian banks offer.
Razaq Ahmed, the co-founder and CEO of CowryWise, said, “These financial services are currently only available to the wealthy. We believe an average man on the street should have unfettered access to these services as he needs them the most to ensure a better financial life.”
The launch of CowryWise was made more possible through the improved developments in modern payment infrastructure. This includes the penetration of both mobile phones and the internet.
The startup’s current goal is to gain the trust of their users through their trustworthy services.
To help with their goal in gaining trust, they signed a deal with Meristem Trustees which is one of the most trusted service providers registered with Securities and Exchange Commission in Nigeria.
The startup is working towards giving Nigerians access to investment opportunities in other African countries as well as internationally through their various repertoire of investment tools.
After this step, they will then work on spreading their provided services to other countries, allowing them to have the same advantage given to Nigerians.
