HabariPay, the fintech arm of Warranty Belief Holding Firm (GTCO), has elevated its revenue 12-fold in three years, reaching a file ₦4.02 billion ($2.70 million) in H1 2025 from ₦322.9 million ($217,094) in H1 2022, in keeping with GTCO’s six-month monetary statements.
The expansion makes it Nigeria’s most worthwhile bank-backed fintech, surpassing Entry Financial institution’s Hydrogen ₦283 million ($190,268) revenue in Q1 2025 and Stanbic IBTC’s Zest, which misplaced ₦389 million ($261,535) in H1.
Regardless of HabariPay’s progress, it stays a small participant in comparison with its dad or mum’s ₦449 billion ($301.88 million) revenue, accounting for less than 0. 89% of this determine. Within the wider fintech market, HabariPay additionally lags behind giants resembling Flutterwave, Paystack, OPay, PalmPay, and Moniepoint.
Though many of those corporations don’t publicly disclose their figures, income estimates for 2023 from the Monetary Occasions point out Palmpay earned round $63.90 million and Moniepoint about $264.51 million.
GTCO launched Habari in 2018 as a super-app earlier than pivoting in 2022 to HabariPay, a devoted fintech subsidiary offering digital funds. Its flagship platform, Squad, combines a fee gateway, e-commerce instruments, and a PoS enterprise.
The fintech processes funds by way of digital accounts, USSD, card, and financial institution transfers for retailers, together with switching providers for account-to-account financial institution transfers and card transactions.
It at the moment earns income from web commissions on service provider transactions and gross sales margins on invoice funds, resembling airtime merchandising and bulk SMS.
Working earnings has surged greater than 10 occasions to ₦5.05 billion ($3.39 million) since H1 2022 (from ₦447.86 million/$301,108), whereas working bills have risen 13 occasions to ₦1.03 billion ($692,497) from ₦70.64 million ($47,493) in the identical interval. As of June 2025, it had a money stability of ₦2.18 billion ($1.47 million).
In March, CEO Eduofon Japhet famous that regardless of the corporate’s progress, it should scale additional to solidify its place inside GTCO’s portfolio. She advised TechCabal that the corporate’s a number of funds and switching licences will allow it to give attention to increasing POS terminal providers for retailers and making certain that cell transfers are as seamless as card funds.
“Transfers will at all times be the way forward for the continent, and we’re alternative ways of constructing switch funds really feel extra like card funds,” she stated on the time.
Throughout its April investor name, Segun Agbaje, GTCO’s Group CEO, disclosed plans to extend PoS terminal deployments to develop Squad’s attain in 2025.
Be aware: trade charge used: ₦1,487.37/$
Mark your calendars! Moonshot by TechCabal is again in Lagos on October 15–16! Meet and study from Africa’s high founders, creatives & tech leaders for two days of keynotes, mixers & future-forward concepts. Get your tickets now: moonshot.techcabal.com
Elevate your perspective with NextTech Information, the place innovation meets perception.
Uncover the newest breakthroughs, get unique updates, and join with a world community of future-focused thinkers.
Unlock tomorrow’s developments at the moment: learn extra, subscribe to our publication, and develop into a part of the NextTech neighborhood at NextTech-news.com
