Thrifto goes live nationwide, reinvents secured group savings digital platform

Lagos-based financial technology startup, Thrifto, has officially gone public, unveiling a nationwide digital platform designed to modernise and secure Nigeria’s long-standing group savings culture.

The fintech, which reinventes informal savings models such as ajo and esusu, announced its public launch on December 15, 2025, following a successful soft launch among family and friends.

Thrifto offers safeguarded group savings with guaranteed payouts, targeting salary earners, traders and individuals seeking a more secure alternative to informal contribution schemes.

Built to address trust failures that have historically plagued informal group savings, Thrifto combines structured savings, verified membership and bank-backed technology to ensure transparency and accountability among contributors.

At launch, the platform is onboarding salary earners working with verified organisations in sectors including financial services, oil and gas, telecommunications, technology, and government Ministries, Departments and Agencies (MDAs), as well as select state governments.

Traders and individuals outside these categories can also join the platform by obtaining special onboard codes from Thrifto-designated connectors.

According to the company, the phased onboarding approach is aimed at strengthening trust, ensuring accountability and maintaining platform stability as the user base expands.

Once users complete Know-Your-Customer (KYC) verification, Thrifto automatically creates a personal virtual bank account for each user, domiciled with a partner bank.

Users can then create savings groups of between two and 12 members, set contribution amounts, determine savings cycles and payout order, or join existing groups on the platform.

Contributions are made seamlessly through the user’s wallet, while lump-sum payouts are credited directly to the wallet and can be withdrawn to any Nigerian bank account.

Group creators can invite members via social media platforms such as WhatsApp, Facebook, X (formerly Twitter) and email, or allow open participation through Thrifto’s “Join Group” feature.

A key feature of the platform is its Trust Rating System, which assigns credibility scores to users based on KYC status, contribution consistency and participation history across savings groups.

The system is designed to help users make informed decisions about who they save with, while encouraging discipline and responsible financial behaviour.

Speaking on the launch, Founder and Chief Executive Officer of Thrifto, Sulaimon Durojaiye, said the platform was created to preserve the benefits of group savings while eliminating the risks associated with informal arrangements.

“All over Nigeria, people lose money and relationships because informal group savings rely on blind trust,” Durojaiye said.

“Thrifto keeps the discipline of group savings but replaces blind trust with verification, transparency and secure banking infrastructure.”

Thrifto 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.

The company has also launched a dedicated WhatsApp support community to assist users with onboarding and technical challenges.

Thrifto is a Nigerian fintech platform that combines traditional group savings culture with modern technology and regulated banking infrastructure to provide secure, transparent and reliable collective savings for individuals and businesses.