Nigerian fintech startup OjirehPrime has rebranded as Pryme to expand into Europe, Central Asia, and the UK.
The founder, Edoka Idoko, explained that the original name OjirehPrime was temporary and Pryme, derived from “Prime,” symbolizes the company’s evolution, with the addition of ‘y’ for creativity.
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The company’s rebranding to Pryme coincides with its application for a European banking license to cater to the large African diaspora population in Europe.
Pryme plans to expand services to include lending, insurance, and bill payments. Besides Europe, Pryme looks to enter the Asian market, focusing on Uzbekistan due to its tech ecosystem and government support.
Pryme specializes in providing digital banking services, offering its customers access to loan and savings facilities. The company boasts of 1 million downloads and a quarter of a million active users monthly. Additionally, Pryme processes transactions totaling N30 billion each month, translating to an annual recurring revenue of $1.5 million. In 2023 alone, the company handled transactions amounting to N330 billion across nearly a million transaction counts.
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