Platnova has marked its third anniversary with strong growth metrics, positioning itself for an aggressive expansion phase. The Lagos based fintech now boasts over 100,000 verified users, supports transactions in 15 currencies across more than 50 countries, and has rolled out a suite of products including its Vault savings feature with a reported 15.5 percent return across multiple currencies. The platform also offers a USD account that enables African users to hold and transfer dollars in real time, reflecting its push toward global financial accessibility.
A defining move in its growth strategy is the permanent removal of naira transfer fees, a decision that stands out in Nigeria’s high volume payments market. With over 1.7 billion interbank transfers recorded in 2023, generating significant fee income across the ecosystem, Platnova’s zero fee model signals a shift from promotional tactics to long term positioning. Chief Executive Officer Benjamin Oyemolan described the move as a principle driven decision, arguing that users should not be charged for moving their own money, while hinting at a broader strategy to build customer loyalty and scale adoption.
Beyond retail users, the company is expanding into small business and merchant infrastructure, developing API tools, multi currency payment rails, and instant settlement systems. While the segment is highly competitive, Platnova’s compliance framework across multiple jurisdictions including Nigeria, the United Kingdom, the United States, Canada, and Rwanda provides a regulatory advantage that could ease cross border operations and partnerships. This positions the firm to compete more effectively as it deepens its footprint in both consumer and enterprise financial services.
The company’s trajectory has also gained international recognition, including a strong showing at the Startup World Cup Grand Finale, where it emerged as second runner up. With a newly established headquarters in Lagos and plans to enter additional markets, Platnova is shifting from survival mode to scale execution. Having proven its resilience in a challenging fintech landscape, the company now faces a critical phase where sustained growth and operational efficiency will determine how far and how fast it can expand.