Piggyvest, Africa’s biggest savings and investment platform, in 2024, crossed ₦2 trillion in total payouts to Piggyvest users since its inception in 2016. In 2024 alone, the company paid out over ₦835 billion to its users, a 53% increase from its total payout in 2023.

“2024 was an amazing year,” Somto Ifezue, CEO and Co-Founder of Piggytech Global Limited, parent company to Piggyvest, PocketApp, and Piggyvest Business, said in an official statement.

“It was our most profitable year, one of the years we achieved the most growth, and our most focused year as a company. It was also a year that tested our resolve in the face of economic challenges, but we remained steadfast and continued to deliver value to our users.”

As highlighted in the Piggyvest Savings Report 2024, economic pressures in 2024, such as inflation, a significantly higher cost of living, and squeezed disposable incomes, made it harder for Nigerians to save and invest their funds. Despite these, the company has continued to grow, finding new ways to help its users navigate these economic challenges. 

Surpassing the ₦2 trillion all-time payout milestone is just one of Piggyvest’s many milestones in 2024. The year-in-review reveals several key company milestones, including:

• Surpassing 5.5 million users on Piggyvest
• Growing Piggyvest’s Assets Under Management (AUM) by nearly 80% in one year.
• Being recognised by CNBC as one of the Top 250 FinTechs globally.
• Paying out ₦835 billion to users on Piggyvest in 2024 – up from ₦535bn in 2023
• Processing over ₦2 trillion in the Piggytech ecosystem in 2024 alone.

Piggyvest set to launch new feature to help salary earners

Somto Ifezue also shared how Piggvest had to innovate ways to help its customers and users meet their needs, including salary earners. He said:

“In 2024, we had to innovate to ensure we’re always meeting the needs of our users. We launched a new feature, revamped existing ones, adjusted our interest rates to align with market trends, and worked diligently to offer our users even greater value for every naira. Every milestone—whether it’s surpassing 5 million users on Piggyvest, increasing Piggyvest’s Assets Under Management by almost 80% in a single year, or surpassing ₦1 trillion in transaction volume on PocketApp in 2024 alone—stems directly from our focus on serving our users better.”

By the end of 2024, Piggyvest users were saving and investing at a rate of ₦44,000 every second. “It’s an encouraging sign that Nigerians remain resilient in taking control of their finances and planning for a more secure future,” Ifezue added.

The CEO also teased a new feature to be released on Piggyvest in 2025. “Many have complained that their salaries no longer last until the end of the month. This year, we plan to roll out an additional feature on Piggyvest to help you manage your day-to-day expenses and ensure your salary lasts until the next payday.”

“We’re proud of how far we’ve come, but this is just the beginning,” Ifezue concluded.

“Our goal remains to continue being the platform of choice for our Nigerians looking to better manage their personal and business finances, no matter the economic climate. We’re excited to continue this journey with our users and look forward to an even stronger 2025.”