When Cowrywise launched a waitlist for its new investment app, over 12,000 people rushed to sign up — not for hype, but for access.
Among them was 27-year-old Eboseremen Ailenotor, who had never invested in Nigeria’s stock market until now.
It’s a sign of the times. As fintechs like Cowrywise and Sycamore shift from savings to stocks, they’re redrawing the map of who gets to invest — and how.
Fintechs Target Capital Markets
Now, Cowrywise leads a growing wave of fintechs shifting from savings and lending to capital markets.
These platforms aim to disrupt a sector long controlled by traditional brokers.
Startups like Sycamore and Bamboo now target Nigeria’s youthful population—74% under 24—by delivering intuitive, low-barrier digital access to stocks.
New Investors On The Rise
According to newsmen report, five firms, including Bamboo and Afrinvest, created 70% of the 151,000+ new investor accounts by May 2025.
Consequently, director-general of Nigeria’s SEC, Emomotimi Agama, urged regulators to adapt.
“We must reach millions,” he said.
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“Technology lets us connect young people to the market.”
User Demand Drives Expansion
Responding to user demand, Sycamore expanded into asset management.
Nearly 300,000 people already use the platform.
“Banks fail to meet this need,” said MD Oluwagbenga Magbagbeola.
“People want investments that protect against inflation and devaluation.”
Cowrywise Offers Strong Returns
Meanwhile, Cowrywise highlighted the Nigerian Exchange’s 15% average annual return over the last decade.
In contrast, savings accounts offer just 2–5%—far below inflation.
With digital tools, investors now start with as little as ₦8,000.
To keep pace, the Nigerian Exchange launched NGX Invest, a digital platform to improve market access.
Ultimately, as Magbagbeola noted, “Those who merge fintech accessibility with institutional expertise will win this race to serve Nigeria’s next generation of investors.”