Thrifto, a homegrown fintech startup revolutionizing Nigeria’s age-old group savings tradition, has thrown open its doors to the public, promising safeguarded contributions and guaranteed payouts for salary earners and traders weary of informal schemes like ajo and esusu.
The platform, founded by Sulaimon Durojaiye, went live nationwide on December 1, 2025, following a successful soft launch among family and friends. Built to tackle decades of trust failures in cash-based group savings, where defaults often shatter relationships and livelihoods, Thrifto leverages verified memberships, structured cycles, and partner bank infrastructure for seamless, transparent saving.
“At launch, we’re prioritising trust and stability through a phased rollout,” Durojaiye explained. “Salary earners from financial institutions, oil and gas firms, telecoms, tech companies, MDAs, and select state governments can onboard directly after verification. Traders and others can join via special codes from our designated connectors.”
Users kick off by completing KYC verification, which unlocks a personal virtual wallet with a partner bank. From there, they can form groups of 2 to 12 members, customise contributions (daily, weekly, or monthly), set payout orders, and invite participants via WhatsApp, email, X, or Facebook. Open groups allow anyone to join listed options, with funds flowing directly into wallets for instant bank withdrawals upon payout.
Central to Thrifto’s appeal is its Trust Rating System, which scores users on KYC status, payment history, and group behavior. This lets savers choose reliable partners, fostering discipline in a culture where group savings fund everything from rent and school fees to asset purchases amid erratic cash flows.
Durojaiye, who has steered Thrifto since May 2024, emphasised its Nigerian roots. “All over Nigeria, people lose money and relationships because informal group savings rely on blind trust,” he said. “Thrifto keeps the discipline but replaces blind trust with verification, transparency, and secure banking.”
Early adopters get extra help through a dedicated WhatsApp community for sign-up, login, KYC, and troubleshooting. The platform targets salary workers eyeing major expenses and market traders saving from daily hauls, blending communal thrift with modern safeguards.
Thrifto emerges amid Nigeria’s booming fintech scene, where digital tools are formalising informal finance. By December 15, the Lagos-based startup had already geared up for scale, positioning itself as a reliable bridge between tradition and technology.
For more details or to sign up, visit https://www.thrifto.com.ng/. Media inquiries: Sulaimon Durojaiye, thriftostartup@gmail.com or info@thrifto.com.
