Nigeria’s Tangerine officially launches its Fintech Platform in Nigeria

Nigeria’s Tangerine officially launches its Fintech Platform in Nigeria

Nigeria-based financial services and technology platform, Tangerine has officially announced the launch of its Fintech platform. The announcement came via a press conference recently.

Tangerine was established in September 2019, following the acquisition of a 100% equity stake in Metropolitan Life Insurance Nigeria by Verod Capital Management (Verod), a leading private equity firm investing in growth companies across Anglophone West Africa. This was immediately followed by a stream of strategic mergers & acquisitions. Some of these mergers include:

The acquisition of ARM Life through Metropolitan Life; Verod’s acquisition of Law Union and Rock, which has since been rebranded as Tangerine General Insurance Limited; the acquisition of Assured MFB, a microfinance bank, by Tangerine Life to establish Tangerine Money; and in the pensions space, the acquisition of Pension Fund Administrators (PFA) – AXA Mansard Pension and a minority stake in a significant PFA by Verod.

Today, Tangerine comprises of the following entities: Tangerine Life, Tangerine General, Tangerine Pensions, and Tangerine Money, positioning itself to be Africa’s preferred one-stop Fintech solutions provider.

Speaking on the development, Dapo Akisanya, Head Pensions, Tangerine Nigeria said:

“In under two years, we have been able to successfully acquire and rebrand several businesses, firmly establishing Tangerine. We have also made significant strides in repositioning our businesses in readiness for growth by assembling a strong, agile, and experienced team that aligns with our strategic thinking”.

On financial inclusion and its impact on the Nigerian socio-economic landscape, he added, “We believe in democratizing access to financial services and products and we seek to achieve this by developing simple value-adding products that are easy to understand and which leverage technology to increase ease of accessibility, helping millions of uninsured Nigerians have protection or save for the future”.

Head Commercial, Tangerine Nigeria Ibitunde Balogun also added that the firm has built a platform that creates value by broadening its financial potential.

“We have merged deep consumer insights and cutting-edge technology to build a range of carefully tailored and relevant products that create value by broadening the financial potential of every individual.

We believe that digital transformation done right can help build a seamless environment for interaction with customers. This is what guides our agile infrastructure. We have built a one-stop platform for customers that features a front-end user interface that enables seamless interaction” said Ibitunde.