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Crowdyvest raises funding, gets new CEO, pivots to wealth management & savings platform

Crowdyvest, a Nigerian crowdfunding platform has raised additional funding and is pivoting to a digital wealth management and savings platform.

Launched in August 2019 as a crowdfunding platform by Onyeka Akumah as co-founder and CEO under the EMFATO Group Holdings, Crowdyvest is completely exiting the group as it starts its new life as digital wealth management and savings platform.

Onyeka Akumah will also step down as the CEO of Crowdyvest to focus on Farmcrowdy and Plentywaka where he is CEO of both companies. Tope Omotolani, Crowdyvest current Managing Director will over as CEO.

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Onyeka and Tope

“I have taken this decision to step down as the CEO of Crowdyvest as a result of the new investment in the company which gives it good footing for scale,” Onyeka Akumah said. “Today, Crowdyvest is exiting fully from EMFATO Holdings and we are very happy about the new investors led by Tope, and excited to see how Tope will lead this business to new heights.

Crowdyvest is also launching the Crowdyvest Savings Platform to allow its 10,000 plus members the opportunity to save and earn interest. The savings platform has launched with four products targeting various segments of the society.

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They include Flex Savings targeting young and trendy Gen Zs and Millenials.  Vault Savings a fixed or lock savings account for 3 months, 6 months, or for years. This is targeted at those into long-term savings such as pensioners, trust funds savings, legacy savings among others.

Pace Savings is for savers saving for a specific target or purchase. The pace savings option recures and is targeted at salary earners, entrepreneurs, among others while the Flex Dollar Savings gives savers the opportunity to save and earn returns in dollars.

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Crowdyvest promises all its savers good interest rates from 12.5% to 15%, zero bank charges with excellent customer service. The digital savings platform aims to provide financial solutions for its individual members and organizations that are committed to long-term growth and financial freedom.

According to the new CEO, Tope Omotolani “ Our major goal and focus as Crowdyvest is that we see a lot of people become financially free and we’re able to do this by the products that we create on the platform”.

The savings packages in details:

Flex Savings which speaks to our young and trendy Gen Zs and Millenials, gives them the opportunity to save as much as they like with the option of withdrawing their money at any time during the year with a withdrawal fee of 2%. The Flex savers also have the opportunity of 7 official withdrawal days which comes without a withdrawal fee.

Vault Savings here, users have the opportunity to safely deposit money into their vaults and lock it for a period of time (3 months, 6 months, or for years). Funds deposited in the vault will be locked and ineligible for withdrawal throughout the locked period. The vault savings is for long-term savings and is targeted at pensioners, trust funds savings, legacy savings, etc.

Pace Savings, savers have the opportunity to deposit money as they wish for a set target. The pace savings option is recurring starting with the least period of 3 months. The money can be deposited automatically into the plan or manually based on the saver’s preference. The plan is targeted at salary earners, entrepreneurs, etc.

Milcah Lukhanyu
Milcah Lukhanyu
I cover tech news across Africa. Drop me an email at [email protected]

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