Odunayo Eweniyi: A Trailblazer in African Fintech
As a pioneering force in African fintech, Odunayo Eweniyi is breaking barriers and transforming the landscape for female entrepreneurs across the continent. Standing at the forefront of this movement, she serves as the co-founder and Chief Operations Officer of PiggyVest, Nigeria’s largest digital savings platform. With nearly 6 million users empowered to take control of their financial futures, Eweniyi is not just shaping a company; she is reshaping an entire industry.
Recognition and Impact
Eweniyi’s contributions have not gone unnoticed. She was recognized on Forbes’ Africa 30 Under 30 list in 2019, Bloomberg’s New Economy Catalysts list in 2022, and as a TIME100 Next honoree in 2021. Her platform helps individuals develop financial discipline, access structured savings and investments, and ultimately take control of their money. This impact extends beyond PiggyVest; she co-founded FirstCheck Africa, a venture fund aimed at investing in women-led startups, showcasing her commitment to advancing financial inclusion across the continent.
Building Trust in a Skeptical Market
When PiggyVest was founded in January 2016, Nigeria’s fintech landscape was vastly different. Cash transactions dominated, and digital financial services faced widespread skepticism. Eweniyi recalls, "In the early days, the biggest barrier was trust, both from users and potential partners." The digital financial ecosystem was still in its infancy, and essential payment processors were not yet established.
Navigating these challenges required a commitment to product integrity and customer trust. Eweniyi and her team made the bold decision to take the platform offline for three months to implement critical security fixes. "We navigated these obstacles through consistency, transparency, and customer-first thinking," she explained. Their persistence paid off, leading to PiggyVest’s remarkable growth and establishing it as Nigeria’s leading digital savings platform.
Redefining ‘Fundable’ in Venture Capital
For many founders, securing investment is a daunting task, and for Eweniyi, being a woman in a payment ecosystem that wasn’t geared toward investing in startups added another layer of complexity. "Honestly, it was frustrating but not surprising," she shared. Her team adapted by arriving at meetings overprepared, armed with comprehensive metrics to validate their business viability.
Despite their efforts, discussions often centered around whether the team was "fundable" rather than focusing on the business model itself. Undeterred, the founding team redirected their energy toward growing revenue and building a product that spoke for itself. "By the time we raised [capital], we were already default alive. That changed the tone of the conversation," Eweniyi noted.
Becoming the Check for Women Founders
After five successful years with PiggyVest, Eweniyi launched FirstCheck Africa, a venture capital firm dedicated to funding female founders. "We were tired of hearing excuses about why investors couldn’t find women to fund. So, we became the check," she explained. Since its inception in 2021, FirstCheck Africa has backed over 15 women-led startups across the continent, many of which have gone on to secure institutional funding.
Eweniyi emphasizes that beyond capital, the fund offers belief at a critical moment. FirstCheck Africa focuses on early-stage founders who may not see opportunities and are at risk of losing confidence. The fund has created a ripple effect, with its portfolio founders fostering opportunities for other women in tech.
Visibility with Purpose
While PiggyVest and FirstCheck Africa operate in different parts of the ecosystem, they share a unified mission: to democratize access. Eweniyi firmly believes that economic empowerment—whether through financial tools, investment capital, or fostering self-belief—should be available to all. "It’s about building systems that let people participate meaningfully in the economy," she asserts.
Eweniyi uses her visibility to challenge traditional narratives about women in tech, providing a platform for incredible women in the industry. "I try to make sure the door stays open, that more women walk through it, and that the ecosystem learns to value substance over stereotypes," she concluded.
Upcoming Engagements
Odunayo Eweniyi will be speaking at the Africa Tech Festival 2025 on the AfricaIgnite Main Stage, participating in a fireside chat titled "Lessons from a Top Founder on Building Success." This event, taking place in Cape Town, South Africa, from November 11-13, 2025, promises to showcase her insights and experiences as a leading figure in the fintech landscape.
Connecting Africa is a media partner for Africa Tech Festival, highlighting the importance of innovation and collaboration in the tech industry.