Trove

What Trove does

Trove is a Nigerian fintech that operates a mobile-first investing platform enabling Nigerian retail and small-business investors to access global (primarily US) and domestic (Nigerian Exchange) capital markets through a single app. Founded in 2018 and headquartered in Lagos, the platform supports fractional share trading from as little as $1, social investing features (portfolio following, trade alerts, community discussions), and access to 10,000+ instruments including US stocks, ETFs, Nigerian equities, bonds, mutual funds, and treasury bills. The company has scaled to 400,000+ registered users and has facilitated N500 billion ($300M+) in cumulative trade volume since launch.

Technically, Trove integrated with multiple third-party brokerage partners historically — DriveWealth LLC and Alpaca Securities LLC for US execution and custody, and Sigma Securities Ltd and ARM Securities Limited for Nigerian securities. The January 2026 acquisition of UCML Securities (rebranded Innova Securities Limited) brought broker-dealer capabilities in-house, addressing the Nigerian SEC's raised minimum-capital thresholds (broker-dealers: N300M to N2B; digital sub-brokers: N10M to N100M). Supporting products include Trove University (150+ interactive lessons with gamified rewards), Earn by Trove (savings yielding up to 20% NGN / 5.5% USD), a virtual debit card for global spend and crypto purchases, gift stocks, extended-hours US trading, and B2B-facing Stock, Robo-Advisor, and Investment Research APIs covering US, Chinese, and London markets with tick-by-tick data.

Trove's revenue model is transaction-fee-led (1.00% on foreign share trades, 1.35% on Nigerian share trades) with subscription tiers ($3/month Standard, $5/month Plus for Morningstar research and analyst ratings), and ancillary one-time fees ($2 virtual card issuance). Go-to-market is product-led via iOS/Android app store distribution with self-serve BVN-verified onboarding in 3–4 minutes, amplified by community-led growth through social investing and Trove University, and event-driven credibility from the 2021 Ecobank Fintech Challenge win. The primary customer segment is Gen Z and Millennial Nigerian retail investors, with a secondary corporate segment (cooperatives, trusts, charities, NGOs) served via dedicated relationship managers. Competitive positioning is contested, with Bamboo reported as the largest broker on the Nigerian Exchange by market share (11.13% as of April 2026) and other fractional-share/robo-adjacent rivals active in the space.

Name

Trove

Legal name

Trove Africa Holdings Inc.

Website

https://troveapp.co

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Trove is a Nigerian fintech operating a mobile-first investing platform that enables retail and small-business investors to trade fractional US and Nigerian stocks, ETFs, and bonds from a single app.

Ownership category

akta.pro rank

Product category

Retail Investing Platform

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)

akta.pro secondary industry

Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value) (FSAGAAAD)

Keywords

• Retail investing platform
• Fractional share trading
• Social investing network
• Mobile brokerage app
• Stock trading API

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Transaction Fees - Foreign Shares: 1.00% of transaction amount on US and international stock trades, exclusive of SEC & FINRA regulatory fees
2. Transaction Fees - Local Shares: 1.35% of transaction amount on Nigerian stock trades, exclusive of statutory fees and taxes
3. Subscription - Standard Plan: $3 per month subscription including paper trading, investment recommendations, Morningstar research, buy/sell/hold ratings, and Trove Investor Education Portal
4. Subscription - Plus Plan: $5 per month subscription with all Standard features plus analyst research reports, technical insight, fundamental insight, daily trade ideas, and stock screener
5. Virtual Card Issuance: $2 one-time fee for virtual debit card creation enabling global spending and cryptocurrency purchases

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Trove operates a mobile-first investing platform enabling Nigerian retail investors to trade fractional shares of US stocks and ETFs, Nigerian equities, bonds, mutual funds, and treasury bills from a single app starting at $1 minimum. The platform combines social investing features (follow successful investors, view portfolios, receive trade alerts) with an educational learning hub (Trove University) and a virtual debit card for global spending. Trove also serves corporate and institutional clients via a dedicated business account and exposes real-time market data and robo-advisor capabilities through developer APIs.

Product overview

Trove is a Nigerian fintech investing platform offering a mobile-first, multi-asset investment ecosystem. The core product is the Trove App (iOS/Android), which enables users to invest in over 10,000+ securities including US stocks/ETFs (fractional shares down to 0.0001%), Nigerian stocks, bonds, mutual funds, and treasury bills. The platform's Social Investing feature lets users follow, replicate, and discuss strategies with other investors. Supporting products include Earn by Trove (savings with up to 20% NGN/5.5% USD returns), Trove University (150+ interactive lessons with reward points), the Trove Virtual Debit Card (for global spending and crypto investing), Gift Stocks, and Extended-Hours Trading. For businesses, Trove Business Account provides access to 20,000+ instruments with dedicated account management. The Standard ($3/month) and Plus ($5/month) subscription tiers offer Morningstar-powered research, analyst ratings, and trade recommendations. In January 2026, Trove acquired and rebranded UCML Securities as Innova Securities Limited, establishing its own SEC-licensed broker-dealer. Trove also offers developer-facing Stock APIs, Robo-Advisor APIs, and Investment Research APIs for building investment applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Trove Mobile App Mobile-first share dealing app available on iOS and Android that enables Nigerians to invest in over 10,000 global and local securities, including fractional US stocks, ETFs, bonds, mutual funds, and treasury bills, starting from $10 or N1,000 with bank transfer or debit card funding.
• Earn by Trove A savings product offering yields on cash balances held on the platform, with up to 20% annual returns on NGN savings and up to 5.5% annual returns on USD savings, enabling users to earn interest on idle cash.
• Trove University An educational platform offering over 150 interactive lessons covering investing basics, advanced strategies, financial literacy, and retirement planning, with quizzes, challenges, and a points-based rewards system redeemable for cash, airtime, trading fees, and data.
• Trove Virtual Debit Card A virtual debit card that allows users to spend globally on websites such as Amazon, Netflix, and Spotify, pay for subscriptions, and invest in digital assets including Bitcoin, Ethereum, Solana, Shiba Inu, Dogecoin, Dai, and Litecoin, created with a one-time fee of $2.
• Trove Business Account A corporate investment account for corporations, cooperatives, limited liability companies, trusts, charities, NGOs, and investment clubs, providing access to over 20,000 tradable instruments, dedicated relationship managers, and around-the-clock expert support during market hours with one-week approval.
• Stock APIs Real-time and historical data APIs for US, Chinese, and London stock markets covering tick-by-tick trade and quote data, with unlimited REST endpoints and Snapshot APIs for market overviews and daily gainers/losers, designed for developers building trading and investment applications.
• Robo-Advisor APIs Programmatic APIs for tailored investor profiling, automated investment processes, and onboarding, including access to AI-powered features, designed for partners and developers building white-label or custom investment platforms with Trove handling KYC, trade execution, money movement, and research.
• Investment Research APIs Comprehensive market insight tools delivered via API including technical analysis, customizable alerts, and value analysis for thousands of stocks, enabling data-driven investment decisions for partners building investment products.

Quantifiable outcome

• Minimum investment starting from $1 enables broad accessibility to global markets
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature7 records

Partnerships

Three partnerships are on record, tiered core.

• DriveWealth LLCcoreTechnology or IntegrationUS brokerage and clearing services partner providing custody of US investment accounts. FINRA-regulated broker backed by Softbank Group, offering self-clearing brokerage services to global investors. Handles US stock trading, settlement, and custody.
• Sigma Securities LtdcoreTechnology or IntegrationSEC-registered broker-dealer and member of Nigerian Stock Exchange providing Nigerian investment account services for local securities trading.
• ARM Securities LimitedcoreTechnology or IntegrationSEC-registered Nigerian brokerage partner providing local securities custody and trading services alongside Sigma Securities.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Risevest: Nigerian fintech offering dollar-denominated investment products (US stocks, real estate, fixed income) to retail African investors; competes head-on with Trove for the same Gen Z/millennial investor base.
• Chaka: Nigerian digital investment platform providing access to US, Nigerian, and Chinese stocks; directly comparable product offering and customer segment to Trove.
• Bamboo: Nigerian digital brokerage offering Nigerians access to US stocks via fractional shares; directly competes with Trove in the same retail segment, with reportedly larger market share (11.13% by April 2026).

Emerging players

• Chipper Cash: Pan-African fintech expanding into investing and wealth products beyond its core payments base; comparable as an adjacent African fintech consumer brand that could enter Trove's investing segment.
• Piggyvest: Leading Nigerian savings/investment platform that overlaps with Trove's "Earn by Trove" savings and fixed-income products; relevant competitor for wallet-stored value and beginner investors.

Broad incumbents

• eToro: Global multi-asset platform famous for social trading (CopyTrader), fractional shares, and educational content; closest comparable on the social-investing + fractional + education stack that Trove is building.
• Wealthfront: US digital wealth manager offering automated portfolio management and investment recommendations; comparable on the robo-advisor / portfolio-recommendation stack that Trove is building for African retail.
• Robinhood: US-listed neobroker offering commission-free fractional-share trading with social/community features (e.g., investor lists); archetype for Trove's product model at much greater scale and regulatory complexity.
• Interactive Brokers: Global incumbent broker offering fractional shares, APIs, and broad market access; comparable as a vertically integrated, API-rich brokerage and the kind of scaled broker Trove's in-house model could evolve toward.

Others

• DriveWealth: US-based, SoftBank-backed broker-dealer providing fractional-share infrastructure to fintechs globally; directly comparable as Trove's US brokerage partner and a benchmark for the B2B brokerage-as-a-service model Trove could replicate in Africa.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

• Xx.com/trovefinance
• Facebookfacebook.com/trovefinance

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds7 records

Investors11 records

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

M&A1 record

Investments

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

Frequently asked questions about Trove