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. 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.
History and growth
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.
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.
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.
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.
In January 2021, Cowrywise raised $3 million pre-series A funding. A round that was led by Washington DC-based Quona Capital.
- "Ahmed: Our Goal Not to Replace Banks". Retrieved 8 February 2021.
- "Nigeria's CowryWise launches digital savings platform". Retrieved 8 February 2021.
- "Cowrywise commits to building sustainable entrepreneurship". Retrieved 8 February 2021.
- "9 Companies from the YC Summer 2018 Batch". Retrieved 8 February 2021.
- "Firm makes list of 50 global emerging startups". Retrieved 8 February 2021.
- "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.
- "Nigeria's Cowrywise raises $3M pre-Series A to scale its wealth management platform". Retrieved 8 February 2021.
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