By Adedapo Adesanya
Top savings startup, Piggyvest, has acquired Savi.ng, a wealth management app that allowed users to save via various features like automated savings, fixed deposits, joint savings and PAYE.
This means that all existing Savi.ng users will be automatically migrated to Piggyvest and will continue the good work savi.ng team has started.
Explaining the build-up to the acquisition, Piggyvest revealed that it had spent the last six months preparing – laying foundations, building partnerships needed for the next phase of our growth.
“We have spent the last 6 months preparing —The first half of 2021 has been an intense building period for the entire Piggyvest team.
“Earlier this year, we began discussions to acquire a savings and investment company, Savi.ng and all its assets and we are more than proud to announce today that the acquisition is now completed,” it disclosed.
The company noted that 2020 was an incredible year as it saw tremendous growth even in a pandemic year as it paid N90 billion to users in the course of the year.
The company noted that so far surpassed this number already in the first half of 2021 and this necessitated the need to expand with the acquirement of the savings and investment company.
It noted, “We will continue to provide you with the best savings and investment options that we can, and you will continue to be part of a community of 3 million people (and counting!) in the Piggyvest family.
“All existing Savi.ng users will be automatically migrated to Piggyvest and we’ll continue the good work the savi.ng team has started. Our vision remains the same: financial freedom for all, and with this acquisition, we are a step closer.
“We believe in a connected ecosystem and our mission to give everyone the power to better manage and grow their finances remains ever strong.
“Our parent company, Piggytech Global Limited, continues to grow with a suite of consumer-focused finance products. We will continue to announce them as the year moves along.
“This announcement is one in a long line of announcements, improvements and updates that we will have for you as we continue in 2021.”