Startups in Africa

Kolopay Launches to Help People Save for Planned Goals

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Being financially discipline is sometimes a very challenging task, especially when one is trying to save for a planned event or goal.

Kolopay is a Fintech startup co-founded by Ayoola Ogunlowo, with the aim of helping people solve the challenges they face trying to save for planned events or goals.

KoloPay offers its services on mobile and web applications to help individuals save towards a planned goal over a period of time. Users can set planned goals such as buying house, office rents, purchasing a car, raising business capital, they also enjoy up to 6% interest as incentive on every savings package.

The startup also offers two main savings categories; EasySave allows users to save any amount of money at anytime and AutoSave allows users choose either daily, weekly or monthly savings plan. Users can also set withdrawal dates, and either disburse money to a bank account or to buy products available on the platform at discounted price.

There is also a ‘Share Target’ feature on the platform, which allows users to meet their savings targets through crowdfunding support from family and friends.

FinTech startups offering same service as Kolopay and enabling people save are becoming increasing popular. There’s PiggyBank, CowryWise, SuSuAI and a host of others, but despite this, Kolopay comes with its own unique offerings which a lot of Nigerians would find useful.

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