Start-ups that offer small loans to customers have the highest number of mobile app downloads on Google Play Store, according to a study of twenty-three fintech companies in Nigeria conducted by BusinessDay.
The study which focused exclusively on the Google Play Store because of its wider reach, showed that Branch International’s mobile app and Paylater has over million downloads and five hundred thousand downloads respectively.
Branch is a San Francisco based company with services in countries like Kenya, Tanzania and Nigeria. The company’s mobile application eliminates the challenges of accessing loans by using data on users phone to create a credit score.
Paylater on the other hand is Nigerian-based fintech firm that provides short-term loans to help cover unexpected expenses or urgent cash needs.
QuickCheck (100,000+), another loan service firm and Remitano (100,000+), a payment startup completes the top three fintechs with the highest downloads. See table below:
