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Cowrywise is a financial technology (FinTech) limited company in Nigeria. Cowrywise is a wealth management firm that digitize investment management for Africans and enable secure access to savings and investment products.[1] Cowrywise Financial Technology Limited partners with Meristem Securities Limited is a Nigerian Capital Market Conglomerate which is regulated by the Securities and Exchange Commission (SEC) and based in Lagos State, Nigeria.[2]

History and growth[edit]

Cowrywise was founded by Razaq Ahmed and Edward Popoola in 2017 as a wealth management platform that grants access to financial services by making these services available to the mass market across Africa.[3]

In June 2018, Cowrywise received a $15,000 seed funding from Microtraction, a firm that provides funding for technology entrepreneurs. By July 2018, the company announced its acceptance into the Y Combinator Summer 2018 Batch, a firm that invests $120,000 in startups that make it into its flagship programme across the world.[4]

Furthermore, in December 2018, Cowrywise FinTech company was listed as one of the 50 World-Changing Startups to Watch in 2019 by Kairos, an early-stage investment fund in the United States of America, with a $50,000 investment award.[5]

Cowrywise joined Catalyst Fund's portfolio in January 2020, a JP Morgan and UK Aid backed fintech accelerator which is aimed to support the growth of 30 additional startups across five key emerging markets for fintech innovation including Nigeria.[6]

In January 2021, Cowrywise raised $3 million pre-series A funding. A round that was led by Washington DC-based Quona Capital.[7]


  1. "Ahmed: Our Goal Not to Replace Banks". Retrieved 8 February 2021.
  2. "Nigeria's CowryWise launches digital savings platform". Retrieved 8 February 2021.
  3. "Cowrywise commits to building sustainable entrepreneurship". Retrieved 8 February 2021.
  4. "9 Companies from the YC Summer 2018 Batch". Retrieved 8 February 2021.
  5. "Firm makes list of 50 global emerging startups". Retrieved 8 February 2021.
  6. "Global Inclusive Fintech Accelerator Catalyst Fund Announces New £12 Million GBP ($15 Million USD) Commitment From UK Aid and J.P. Morgan to Advance Financial Inclusion in Emerging Markets". Retrieved 8 February 2021.
  7. "Nigeria's Cowrywise raises $3M pre-Series A to scale its wealth management platform". Retrieved 8 February 2021.

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