Afrigather Nigerian fintech firm OjirehPrime has modified its identify to Pryme to increase to Europe, Central Asia, and the UK. The corporate stated it has began purposes to safe a European banking licence permitting it to succeed in the 12 million Africans (5.8 million are Nigerians) who stay in Europe.
Based in 2018, Pryme supplies digital banking providers with entry to loans and financial savings.
Edoka Idoko, founder and CEO of the corporate, claimed Pryme now has 1 million downloads, with 250,000 month energetic customers rising at 20% month-on-month. He additionally claimed the corporate processes N30 billion transactions month-to-month and $1.5 million annual recurring income. In 2023, Idoko stated Pryme processed N330 billion transactions throughout 980,987 transaction counts.
The CEO notes that from the start it was apparent that OjirehPrime was a mouth full, however it determined to retain the identify till it was time to maneuver to the subsequent section of the playbook.
“Pryme has at all times been a part of our plans and initially it’s alleged to be Prime however we would have liked that contact of creativity therefore the introduction of ‘y’,” Idoko stated.
Pryme may even increase its product providing to incorporate lending, insurance coverage, and upgrading its invoice fee providing.
In July 2023, the corporate stated it was available in the market to boost $21 million in Series B funding, an enormous leap from the $1.2 million the corporate has raised because it was based.
Past the European market, Pryme stated it has a long-term plan for the Asian market, exactly Uzbekistan.
“Uzbekistan has a fast-growing tech atmosphere, authorities assist for the sector, and its market handshake with different economies,” Idoko stated.
