Sycamore
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.
- Company typePrivate
- Founded2019
- HeadquartersLagos, Nigeria
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
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.
Sycamore firmographics
Firmographics- 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
Sycamore industry classification
Industry- 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
Where Sycamore is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices3 records
Markets served
Sycamore business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- 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.
- 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.
- 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.
- 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.
- 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.
- 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
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Personal and business loans (Salary, Emergency, Microbusiness, SME, Invoice Discounting, LPO, FMCG, BNPL) |
| Usage-based | Pay-as-you-go | Investment plans: Premium Yield, Enhanced Dollar, Commercial Papers |
| Usage-based | Pay-as-you-go | Target Savings (Goals Plan and Flex Purse) |
| Usage-based | Pay-as-you-go | Personalised wallet interest |
| Transaction based/ take rate | Pay-as-you-go | Transfers and bill payments |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels8 records
Sycamore product offering
Product offeringCore 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
Companies that use Sycamore
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles4 records
Sycamore technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability6 records
Feature6 records
Sycamore partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- PaystackcoreSub-processor for 3D Secure card payments on Sycamore, adding an extra layer of authentication for online card payments.
- OkHicoreAddress 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.
- FlutterwavecoreSub-processor for payment processing on the Sycamore platform, supporting transactions across the app.
- KorapaycoreSub-processor for payment processing within the Sycamore platform.
- Nigerian Interbank Settlement System (NIBSS)coreSub-processor enabling interbank transfers and settlement on the Sycamore platform.
- GooglecoreSub-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 BankcoreLicensed commercial bank providing personalised wallet account numbers to Sycamore customers; user funds are held with Wema among other partner banks.
- Providus BankcoreLicensed commercial bank providing personalised wallet account numbers to Sycamore customers.
- BanklyminorLicensed 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
Sycamore competitors and assessment
Company assessmentDirect 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
Sycamore social profiles
Digital presenceSycamore compliance and trust
Trust signalCompliance6 records
Sycamore financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sycamore leadership team
Management profileNumber of profiles
Profiles11 records
Sycamore subsidiaries and ownership
Company hierarchySubsidiaries4 records
Sycamore funding detail
Funding detailFunding overview
Funding rounds6 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sycamore M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sycamore
What does Sycamore do?
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.
Is Sycamore a public or private company?
Sycamore is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Sycamore founded?
Sycamore was founded in 2019. It employs 101 to 250 people.
Where is Sycamore based?
Sycamore is headquartered in Lagos, Nigeria, in the Africa region.
How does Sycamore make money?
Six revenue lines are on record. Interest income on personal, business, and SME loans are the primary driver. The others are investment product yields and fees (Premium Yield, Enhanced Dollar, Commercial Papers), asset management and advisory fees (SIML), transaction fees on transfers and bill payments, wallet balance interest spread and commercial paper issuance fees (debt capital markets).
Who are Sycamore's main competitors?
Direct peers on record are Renmoney, Piggyvest, Cowrywise, FairMoney, Carbon (formerly Paylater), Moniepoint and Kuda Bank. Luno is listed as a regional player. OPay is listed as an emerging player. Flutterwave is listed as a broad incumbent.
Does Sycamore have an API?
No public API is recorded for Sycamore.
What industry is Sycamore in?
Sycamore's product category is Digital Consumer Banking and Lending. Its primary akta.pro industry code is FSAKABAA, General Purpose Credit Cards, with a secondary code of FSAAAAAN, Wealth Lending & Margin / Securities-Backed Lines (Retail). Its NAICS code is 5221 and its SIC code is 6141.