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Fintech firm records N200m monthly transaction

Cashbox

CASHBOX, a fintech company offering savings and investment services, has announced that its monthly transaction value grew from N16m in 2019 to N200m in 2021.

The firm said the 1150 per cent increase in its transaction value led to a growth in the customer base from 10,000 to 200,000 within the period under review.

According to founder and Chief Executive Officer, CashBox, Sydney Aigbogun, the firm invests its customers’ savings in viable assets such as lending platforms, agriculture which is done directly with farmers to mitigate third-party risks, and real estate where it partners with developers.

He added that the company had bootstrapped since it was founded but was exploring the option of raising funds to recruit more technical talents and push its brand visibility across the country.

Aigbogun said, “Our digital marketing budget is very small compared to our competitors and that is because we have relied mostly on referrals to build the business.”

He further said the firm was looking to add more features to its app, following the introduction of an investment feature on its 5.0 mobile app platform which enables users to take advantage of opportunities in different sectors of the economy.

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