Foremost savings and investment startup, PiggyVest is expanding its Nigerian base with the acquisition of Savi.ng, a wealth management app.
According to the company, discussions to buy Savi.ng which started earlier this year has now been completed. However, it did not disclose the cost of acquisition.
With the completion of the deal, all of Savi.ng assets including its existing users will be automatically migrated to Piggyvest.
financial freedom for all
Speaking on the acquisition, PiggyVest says it is in line with its vision of providing financial freedom for all.
Last year, the company revealed that it had paid back N90 Billion to users. However, in the first half of this year alone it says it has already surpassed that milestone.
Building on its growth, the company has now added Savi.ng to its portfolio.
Earlier this year, Piggyvest partnered uduX to help Nigerians invest in their favorite musicians. This shows how broadly the company is looking to expand its investment opportunities.
Before the acquisition, Savi.ng was a wealth management app launched in 2018. It allowed users to save via various features like automated savings, fixed deposits, joint savings and PAYE.
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