Matilda Omonaiye/
A Nigerian financial technology startup, Thrifto, has officially launched to the public, introducing a secure, bank-backed digital platform designed to modernise traditional group savings schemes such as ajo and esusu.
The platform, which opened nationwide access after a successful soft launch, offers safeguarded group savings with guaranteed payouts for salary earners and traders, addressing long-standing trust failures associated with informal savings arrangements.
With a focus on transparency, verification and financial discipline, Thrifto provides users with a technology-driven alternative that eliminates cash handling, defaults and broken trust that have plagued group savings for decades.
At launch, Thrifto is onboarding salary earners from verified organisations across key sectors, including financial services, oil and gas, telecommunications, technology companies, Ministries, Departments and Agencies (MDAs), as well as viable state governments. Traders and other individuals outside these sectors can also access the platform through special onboard codes issued by Thrifto-designated connectors.
According to the company, the phased onboarding strategy is aimed at strengthening accountability, trust and platform stability as the service scales nationwide.
Once users complete Know Your Customer (KYC) verification, Thrifto automatically creates a personal virtual bank account domiciled with a partner bank. From there, users can create or join savings groups of between two and twelve members, determine contribution amounts, set savings cycles – daily, weekly or monthly – and choose payout order.
Contributions are made seamlessly through the user’s wallet, while lump-sum payouts are credited directly and can be withdrawn to any Nigerian bank account. Group creators can invite members via WhatsApp, email, X (formerly Twitter), Facebook, or allow open participation through Thrifto’s “Join Group” feature.
A standout feature of the platform is its Trust Rating System, which assigns credibility scores to users based on verified identity, consistency of contributions and participation behaviour across savings groups. The system enables users to make informed decisions about who they save with, while encouraging discipline and accountability within the ecosystem.
Thrifto said the platform “is specifically designed for salary earners planning for rent, school fees and asset acquisition, market traders saving from daily or weekly cash flows, and Nigerians seeking the benefits of group savings without the risks associated with informal arrangements”.
“All over Nigeria, people lose money and relationships because informal group savings rely on blind trust,” said Sulaimon Durojaiye, Founder and Chief Executive Officer of Thrifto. “Thrifto keeps the discipline of group savings but replaces blind trust with verification, transparency and secure banking infrastructure.”
The platform officially opened to the public on Monday, December 1, 2025, allowing users to sign up, complete verification, create or join savings groups and begin saving immediately. To support early adopters, Thrifto has also launched a dedicated WhatsApp support community to assist with onboarding, KYC completion and other user needs.
Thrifto is a Nigerian fintech platform offering safeguarded group savings with guaranteed payouts, combining the country’s long-standing savings culture with modern technology and regulated banking infrastructure to deliver secure, transparent and reliable collective savings.
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