FairMoney Microfinance Bank, Nigeria’s leading digital bank, has rallied stakeholders in the financial sector to a one day investors conference aimed at discussing the financial technology landscape in Nigeria, particularly its sustainability in years to come.
The event held on Thursday, November 18, 2021 at the Federal Palace Hotel, Lagos, Nigeria, had fund managers, HNI’s, investors, fintech aggregators and Pension Fund Administrators in attendance.
Laurin Hainy, CEO and Co-Founder of FairMoney
The digital bank disclosed that it has disbursed over N71 billion in loans so far in
2021, more than double the amount in 2020 with a bid to drive financial inclusion in
Nigeria.
In his welcome address, Laurin Hainy, CEO and Co-Founder of FairMoney, highlighted that they successfully raised an equity round of over $40 million in April 2021, launched a N10 Billion private note program, received a microfinance bank licence from the CBN and obtained an Investment Grade Rating from Global Credit Ratings (GCR), all in one year.
L – R: Patryk Kalisz, Head of Controlling and Reporting, FairMoney; Siddharth Kulkarni, Executive Sponsor, Lending, Nigeria at FairMoney; Nicolas Berthozat, Co-Founder FairMoney and Juris Rieksts-Riekstinš, Head of Risk, Nigeria, at FairMoney at the FairMoney investor’s conference.
He further emphasized that “the conference was conceived to provide an avenue for
capital market operators, investors, fintech players, and regulators to converge on
financial inclusion solutions that drive growth and deep focus on our customers.”
Another highlight of the event was a panel session with industry experts like Sonnie
Ayere; GMD/CEO – DLM Capital Group, Bayo Rotimi; MD/CEO – Greenwich Merchant
Bank, Nichole Yembra; Founder and Managing Partner – Chrysalis Capital, Yaw Mante;
Head, Finance – FairMoney as panelist.
The session was moderated by Seun Onayiga; Head Investment Banking, West Africa – Renaissance Capital.
FairMoney was incorporated in 2017 with operations in Nigeria and India. In the past 4
years of operation, FairMoney MFB has grown its customer base to over 5 million users,
and 1.9 million bank accounts.
L – R: Oluwatomide Oluwole, Finance Manager, FairMoney; Henry Obiekea, VP Capital Markets, FairMoney; Yaw Mante, Head, Finance – FairMoney and James Edeh, Head, Compliance, FairMoney, at the FairMoney investor’s conference
As a digital consumer & SME lender, and provider of financial services in Nigeria,
Fairmoney MFB has created a product that offers near-instant digital loans 24/7 directly
via its mobile app.
The primary digital product offering covers loans in tenor from 15-days to 18 months to MSMEs and consumers. It’s end-to-end application to loan offer process takes 5 minutes and is fully digital with no physical touchpoints.
L – R: Seun Onayiga, Head Investment Banking, West Africa – Renaissance Capital; Nichole Yembra, Founder and Managing Partner – Chrysalis Capital; Laurin Hainy, CEO and Co-Founder of FairMoney; Sonnie Ayere, GMD/CEO – DLM Capital Group; Bayo Rotimi, MD/CEO – Greenwich Merchant Bank and Yaw Mante, Head, Finance – FairMoney, at the FairMoney investor’s conference.
