Herconomy - This female-focused fintech is on a mission to salvage women in Nigeria from financial constraints

Nigerian largest women-led fintech Herconomy recently hosted a media event where the company unveiled a new way for women to bank and save money.

Herconomy, provides women with the resources they need to thrive, save money, and take advantage of opportunities. The network connects women with professionals and industry experts, as well as providing financial services, capacity-building opportunities, and other possibilities to a network of over 60,000+ participants, with the aim of financially empowering 1 million women by 2025.

Ife Durosinmi-Etti, the founder of Herconomy, launched the "Each Woman Bring One" Campaign as a means of inspiring women to save collectively and have access to more opportunities.

The percentage of women in Nigeria who have bank accounts in any conventional financial institution has climbed in the last few years from 24% to 35%, the highest in the past ten years, according to the 2021 Global Findex Report by the World Bank. The "Each Woman Bring One" campaign recognizes that, despite the fact that 35% is still a very low number, technological innovation has been the primary driver of this growth.

The products and services of Herconomy were summarized in a video demonstration of the Herconomy app by its associate product manager Opral Ogbuigwe. These products and services, which range in diversity and can be evaluated in less than two minutes after an onboarding process, include Vault, Float, Plans, Accountability Partners, and Discounts.

Herconomy also unveiled their preparations for World Savings Day 2022, which occurs on October 31 every year.

The group's most recent funding was far back in 2021 when it announced the completion of a $600,000 pre-seed round in order to increase the range of products available on its marketplace.

Members of the Herconomy community, the venture capital firm Oui Capital, and a number of angel investors led the pre-seed round. These investors included Zephans & Co. CEO Nkiru Ayemere, Ehi Onwudiwe, Director of Business Transformation at Ernst & Young, Ope Makinwa, Head of Reserve at Diageo, and Ama Akpata, co-founder of Jand2Gidi, among others. Ife Durosinmi-Etti, the founder and CEO, claimed that within 24 hours of the round beginning, the organization had pledges totaling $5.7 million from 509 community members; nevertheless, it only chose to accept the $600,000 it required to scale.

About Herconomy

Herconomy is the largest female-focused and women-led fintech in Nigeria. It is also the largest community for Nigerian women. Herconomy, was created to provide women with the resources they need to succeed, change the way they handle their money, and create the life they desire.

Herconomy connects its members with financial professionals for insightful guidance on retirement planning, investing, and saving. It enables individuals to enhance their professional abilities and succeed in their career or entrepreneurial journey by giving them access to informative trainings and resources encompassing the most sought-after skills.

By giving them access to fresh investments, funds, grants, and scholarships, it also helps them broaden their horizons. Currently, Herconomy has a sizable network of more than 60,000 women.