Sycamore

What Sycamore does

Sycamore (Sycamore Capital Group / Sycamore.NG) is a Nigerian-licensed digital financial services group operating a single consumer-facing mobile and web platform that delivers credit, savings, investments, asset management, payments, and bill-payment services to individuals, SMEs, retail investors, and the African diaspora. The group is structured around four wholly-owned subsidiaries: Sycamore Integrated Solutions Ltd (SISL), which builds and operates the digital platforms; Sycamore Microfinance Bank, licensed by the Central Bank of Nigeria; Sycamore Investment & Asset Management Ltd (SIML), licensed by the Securities and Exchange Commission; and Sycamore UK, the group's international arm supporting diaspora and partnership expansion.

The platform is built on a JavaScript-based stack (Vue, React.js, React Native) with Cloudflare-delivered DDoS protection, biometric and 3D Secure authentication, and an automated decisioning layer that combines BVN/NIN, credit-bureau, behavioural, and device signals for credit and AML workflows. Core products include personal and business loans up to ₦100,000,000 (salary, emergency, microbusiness, SME, invoice discounting, LPO financing, FMCG, BNPL), goal-based target savings with up to 20% interest and 3% bill-payment cashback, investments (Premium Yield up to 27.5% PA, Enhanced Dollar from $5, Commercial Papers), a Loan Friends peer-to-peer lending feature, free Sycamore-to-Sycamore transfers with Tags username identifiers, and a personalised wallet account backed by partner banks (Wema, Providus, Bankly) earning up to 10% PA.

Sycamore monetises through interest income on loans, yield and arrangement fees on investment products, asset-management fees via SIML, transaction fees on inter-bank transfers and bill payments, and a net interest spread on wallet balances deployed across partner banks. Distribution is fully self-serve via the iOS/Android app and sycamore.ng, supplemented by a Campus Sytizen ambassador programme, organic social channels, and a UK entity targeting diaspora customers. The company reports 500,000+ customers served across 6 markets and operates from Lagos with secondary offices in Abuja.

Name

Sycamore

Legal name

Sycamore Integrated Solutions Limited

Website

https://sycamore.ng

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

101–250 employees

Short description

Sycamore is a Nigerian fintech group operating a regulated digital platform offering loans, savings, investments, asset management, and payments to individuals, SMEs, retail investors, and the African diaspora through its CBN-licensed microfinance bank and SEC-licensed asset management subsidiaries.

Ownership category

akta.pro rank

Product category

Digital Consumer Banking and Lending

NAICS

Depository Credit Intermediation (5221), Consumer Lending (522291), Sales Financing (52222)

SIC

Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

General Purpose Credit Cards (FSAKABAA)

akta.pro secondary industries

Wealth Lending & Margin / Securities-Backed Lines (Retail) (FSAAAAAN), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB), SME Commercial Real Estate (CRE) Lending (FSABABAG)

Keywords

• Digital lending
• Mobile banking
• Microfinance services
• Investment management
• Payment processing

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Interest income on personal, business, and SME loans: Sycamore earns interest on personal loans (up to ₦10,000,000), salary loans, emergency loans (up to ₦5,000,000), microbusiness loans (from ₦100,000), SME loans (from ₦500,000), invoice discounting (6% fixed, 30 days), LPO financing (7% per month, 30–90 days), FMCG loans, and BNPL. Personal and business loans extend up to ₦100,000,000.
2. Investment product yields and fees (Premium Yield, Enhanced Dollar, Commercial Papers): Sycamore earns from Premium Yield Investments (up to 27.5% P.A.), Enhanced Dollar Investments (dollar-denominated), and arrangement/management fees on Commercial Paper issuance. Investors are quoted returns up to 25% per annum.
3. Asset management and advisory fees (SIML): Sycamore Investment & Asset Management Ltd charges fees on portfolio management, mutual/funds management (Equities, Bonds, Money Market Instruments, Commodities), endowment funds, staff welfare schemes, and investment advisory services.
4. Transaction fees on transfers and bill payments: Inter-bank transfers incur fees after the free-tier allowance (3 free transfers on signup + 3 on birthday). Recurring transfers are zero-fee for the user but Sycamore may earn from underlying rails. Bill payments (airtime, data, electricity, cable, broadband) generate distribution margin.
5. Wallet balance interest spread: Sycamore pays users up to 10% per annum on wallet balances while deploying those deposits across bank partners (Wema, Providus, Bankly) and investment products, earning a net interest spread.
6. Commercial paper issuance fees (debt capital markets): Sycamore raised via an oversubscribed commercial paper issuance in May 2026 — Sycamore also arranges commercial paper investment opportunities for its users, earning arrangement and management fees.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Sycamore is a Nigerian fintech group that delivers consumer and SME financial services through a single mobile and web app. Its core offerings include personal and business loans (up to ₦100,000,000), goal-based target savings with up to 20% interest, investments (Premium Yield up to 27.5% P.A., Enhanced Dollar, Commercial Papers) earning up to 25% P.A., peer-to-peer Loan Friends lending, interbank transfers, bill payments (airtime, data, electricity, cable, broadband), and a personalised wallet that pays up to 10% P.A. on balances. Regulated activities are delivered through Sycamore Microfinance Bank (CBN-licensed) and Sycamore Investment & Asset Management Ltd (SEC-licensed), with Sycamore UK serving the diaspora.

Product overview

Sycamore Capital Group is a borderless financial technology and services group operating a single, integrated digital platform (the Sycamore App, built by subsidiary Sycamore Integrated Solutions Ltd / SISL) that powers credit, savings, investments, banking, and asset management services. The unified consumer app encompasses the Loans (personal, business, salary, emergency, microbusiness, SME, invoice discounting, LPO financing, FMCG, BNPL), Investments (Premium Yield, Enhanced Dollar, Commercial Papers), Target Savings, Loan Friends (peer-to-peer lending), Transfers, Bill Payment, Personalised Wallet, Recurring Transfers, and Tags modules. Regulated activities are delivered through three licensed subsidiaries: Sycamore Microfinance Bank (CBN-licensed), Sycamore Investment & Asset Management Ltd / SIML (SEC-licensed), and Sycamore UK, which together support cross-border and diaspora-focused financial services.

Differentiator

Problem solved

Functional benefit

Brands

• Sycamore Integrated Solutions Ltd (SISL): The technology engine of the Sycamore Capital Group; builds and operates the digital platforms, including the Sycamore mobile app, which enables users to save, access credit, pay bills, and invest.
• Sycamore Microfinance Bank
• Sycamore Investment & Asset Management Ltd (SIML)
• Sycamore UK

Products and services

• Sycamore App Unified consumer-facing mobile (iOS and Android) and web application that enables individuals and businesses to save, access credit, pay bills, invest, and transfer funds from a single interface.
• Loans Personal and business loans of up to ₦100,000,000 with competitive interest rates and flexible repayments, including Salary Loans (up to ₦10,000,000), Emergency Loans (up to ₦5,000,000), Microbusiness Loans (from ₦100,000), SME Loans (from ₦500,000), Invoice Discounting (up to 75% of invoice, 6% fixed, 30 days), LPO Financing (up to 80–100% of LPO, 7% per month, 30–90 days), FMCG Loans, and BNPL.
• Investments Investment offerings earning up to 25% interest per annum, including Premium Yield Investments (up to 27.5% P.A., 90–360 days, from ₦100,000), Enhanced Dollar Investments (from $5), and Commercial Papers arranged via the platform.
• Target Savings Goal-based savings plans offering up to 20% interest rate and 3% cashback on bills, comprising the Goals Plan (automated daily/weekly/monthly deductions) and Flex Purse (save at your own pace), with discounted loan rates for savers.
• Loan Friends Peer-to-peer lending feature that lets users lend to or borrow from friends and family, with automated reminders, adjustable loan requests, automated repayment debits, personalized loan links, and the ability to lend to up to 50 friends at once.
• Transfers Lightning-fast bank transfers to any bank in Nigeria with free Sycamore-to-Sycamore transfers, beneficiary saving, repeat transfers, and 3 free transfers on sign-up and 3 additional free transfers on birthday.
• Bill Payment Free airtime, data, cable TV, electricity (DISCO), and broadband (4G/5G) bill payments with 3% cashback when paired with a savings plan and improved loan eligibility.
• Personalised Wallet Customisable wallet account number backed by partner banks (Wema, Providus, Bankly) with NDIC insurance, up to 10% per annum interest on balances, and daily interest alerts.
• Asset Management (SIML) SEC-licensed investment and asset management services covering portfolio management, mutual/funds management (Equities, Bonds, Money Market Instruments, Commodities), endowment funds, staff welfare schemes, and investment advisory services for individual and institutional clients.

Quantifiable outcome

• Up to ₦100,000,000 in personal and business loans accessible through the Sycamore app
• +8 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability6 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• PaystackcoreTechnology or IntegrationSub-processor for 3D Secure card payments on Sycamore, adding an extra layer of authentication for online card payments.
• OkHicoreTechnology or IntegrationAddress verification partner used to satisfy Central Bank of Nigeria KYC requirements for higher transaction tiers (Tier 3). OkHi processes name, phone number, and background location data for residential address verification via its smart address technology.
• FlutterwavecoreTechnology or IntegrationSub-processor for payment processing on the Sycamore platform, supporting transactions across the app.
• KorapaycoreTechnology or IntegrationSub-processor for payment processing within the Sycamore platform.
• Nigerian Interbank Settlement System (NIBSS)coreTechnology or IntegrationSub-processor enabling interbank transfers and settlement on the Sycamore platform.
• GooglecoreTechnology or IntegrationSub-processor providing cloud and infrastructure services underpinning the Sycamore platform; also referenced as a continuing international investor in African startups during the period covered by the Bloomberg 2026 watchlist.
• Wema BankcoreChannel Partner/ Reseller/ DistributorLicensed commercial bank providing personalised wallet account numbers to Sycamore customers; user funds are held with Wema among other partner banks.
• Providus BankcoreChannel Partner/ Reseller/ DistributorLicensed commercial bank providing personalised wallet account numbers to Sycamore customers.
• BanklyminorChannel Partner/ Reseller/ DistributorLicensed commercial bank listed as one of the partner banks where personalised Sycamore wallet accounts can be opened.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Renmoney: Nigerian consumer and SME lender operating a mobile app with personal, salary, and SME loans plus savings and investments. Comparable to Sycamore's full-stack approach of credit plus deposit/investment products under a single regulated entity.
• Piggyvest: Nigerian savings-and-investments app with target savings, fixed deposits, and mutual fund access. Overlaps directly with Sycamore's Target Savings (Goals Plan / Flex Purse) and Premium Yield investment products.
• Cowrywise: Nigerian SEC-registered digital wealth management platform offering savings, investments, and mutual funds via a mobile app. Closely comparable to Sycamore's SIML asset-management-led investment offerings.
• FairMoney: Nigerian-and-emerging-market digital lender with personal loans, business loans, and a licensed microfinance bank in Nigeria. Closely mirrors Sycamore's combination of an app-based consumer loan book and a regulated microfinance banking subsidiary.
• Carbon (formerly Paylater): Nigerian digital lending platform offering personal and SME loans through a mobile app. Directly comparable to Sycamore's loan-led consumer credit product with overlapping target customers and similar reliance on automated credit decisioning.
• Moniepoint: Nigerian digital banking and payments platform serving SMEs and agents with POS, accounts, and credit. Comparable to Sycamore's SME-focused working-capital and invoice-discounting credit products.
• Kuda Bank: Nigerian digital-only commercial bank offering free transfers, savings, and personal loans via a mobile app. Directly comparable to Sycamore's personalised wallet, transfers, and consumer credit bundle.

Regional players

• Luno: Global crypto-investment platform with a strong Nigerian retail user base for dollar-denominated investments. Comparable to Sycamore's 'Enhanced Dollar Investments' product serving Nigerian consumers seeking dollar exposure.

Emerging players

• OPay: Nigeria-focused super-app offering payments, transfers, savings, and consumer credit under a single mobile app. Comparable as a horizontal Nigerian fintech super-app competing for the same retail wallet share as Sycamore.

Broad incumbents

• Flutterwave: Pan-African payments infrastructure provider whose rails Sycamore already uses as a sub-processor. Comparable as the broader African digital-payments incumbent within whose ecosystem Sycamore operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/SycamoreNG
• YouTubeyoutube.com/@sycamoreng
• Facebookweb.facebook.com/SycamoreNG
• LinkedInlinkedin.com/company/sycamore-finance
• Instagraminstagram.com/sycamoreng

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries4 records

Funding overview

Funding rounds6 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sycamore