Advancly, a fintech firm focused on deploying capital to high-growth businesses, has unveiled a new microfinance bank (MfB). This is part of the firm’s strategy to expand financial access in Nigeria.
Julian Lotanna, the company’s co-founder and chief executive, said the new institution, Advancly Microfinance Bank, was created to integrate credit-building into the banking experience for individuals and small businesses.
“The idea is to redefine how Nigerians build credit and to provide a digital-first, wealth-focused banking experience tailored for entrepreneurs, retail investors and underserved individuals,” Lotanna said in an interview.
The launch comes under a campaign tagged #ProgressForEveryone, which Advancly said is aimed at extending financial services to everyday earners, business owners and impact-driven investors.
The new MfB will operate initially as a digital platform, offering deposit and investment products while embedding tools to help customers establish creditworthiness. The rollout, expected in the coming weeks, is designed to give users broader access to financial products in a secure and user-friendly environment.
Lotanna explained that the bank draws on Advancly’s track record of mobilising capital for emerging opportunities across markets. He noted that the institution will offer deposit and investment solutions that can support both individual prosperity and wider community development.
“Advancly MfB is set to unlock financial opportunities for communities across Nigeria and beyond. From institutional investors to everyday earners, financial progress should be accessible to all,” he said.
Nigeria’s financial inclusion rate still leaves millions unbanked or underbanked. And this move places Advancly among a growing list of fintechs seeking to bridge the gap through digital-first microfinance offerings.
