Methinks it’s the season of announcing user numbers in Nigeria, especially by finance-related startups.
First, it was Paga announcing it has reached the 500,000 users mark, and possibly crossed it by now, a few days ago.
Paylater, an online lending platform, has also joined in making an announcement in that regard: it now has 100,000 users!
“We’re excited to have our first 100,000 users! Thank you for the app downloads, likes, comments, shares and feedback,” the company stated in a Facebook post.
It added, “You have all played an important role in helping grow the Paylater service, and we’re looking forward to continuing to serve you in the months and years ahead.”
— Paylater (@paylaterNG) August 27, 2016
For the uninitiated, Paylater is a simple, entirely online lending platform that provides short-term loans to help cover unexpected expenses or urgent cash needs.
You can apply for a Paylater loan 24 hours a day, 7 days a week. Its quick application process lets you know your fate (or status) within minutes.
Paylater didn’t start out as an online lending platform though. It was initially a credit-based online shopping service before pivoting some time last year, and it’s looking like it made the right move.
Paylater is available in all 36 states of Nigeria. The service is powered by One Finance & Investments Ltd, a licensed and regulated finance company.