myCircle
myCircle is a Nigeria-based, mobile-first fintech platform that combines a digital wallet, social savings circles, merchant-discount-driven auto-save, and a business payment API, serving Nigerian consumer savers and SMB merchants seeking integrated wallet acceptance.
- Company typePrivate
- Founded2018
- HeadquartersLekki, Nigeria
- Headcount1–10
- GTM typeB2B and B2C
- OfferingSoftware
What myCircle does
myCircle is a Nigeria-based financial technology company that operates a mobile-first savings and payments platform organized around community-based savings circles. The product combines a digital wallet, group savings functionality with multi-currency and cross-border capability, merchant-discount-driven automatic savings (up to 30% off via 52+ partner merchants, with discounts auto-deposited to wallet and earning interest every 30 days), and a creator earnings layer that pays circle creators a percentage of the interest generated by their members. Banking and trust infrastructure is provided through partnerships with Bosak Microfinance Bank, Kuda Bank Limited, and an SEC-registered trustee; user funds are governed under an SEC-regulated trust and the savings scheme is registered under Lagos State cooperative laws.
The company serves two primary segments: Nigerian consumer/savers — employed, self-employed, traders, and young earners who use myCircle for personal savings and community accountability — and small and medium businesses that integrate the Circle Payment Wallet API to accept myCircle wallet payments and access financially verified customers. A secondary influencer/creator segment monetizes through circle-management revenue share. Underlying technology centers on a Circle Wallet with multi-level authentication, a payment API (Circle Payment Wallet API) with merchant checkout, an automated auto-save feature, and BVN-based KYC for member financial verification.
myCircle generates revenue primarily through the interest spread on pooled savings (users receive over 15% annual interest, with myCircle retaining a portion), merchant partnership and transaction take-rates via the discount checkout, B2B payment-processing fees, a 2.5% off-schedule withdrawal penalty, and creator earnings share that aligns circle creators with retention. The platform offers a freemium core with premium services accessed via a myCircle Account, operates only in Nigeria today, and is incorporated in the United Kingdom as Circle Tri-Angle Technology Limited with the cooperative entity registered in Lagos under LSCS 12432.
myCircle firmographics
Firmographics- Name
- myCircle
- Legal name
- Circle Tri-Angle Technology Limited
- Website
- https://mycircle.africa
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- myCircle is a Nigeria-based, mobile-first fintech platform that combines a digital wallet, social savings circles, merchant-discount-driven auto-save, and a business payment API, serving Nigerian consumer savers and SMB merchants seeking integrated wallet acceptance.
- Ownership category
- akta.pro rank
myCircle industry classification
Industry- Product category
- Digital Community Savings & Payments
- NAICS
- Credit Unions (52213), Credit Unions (522130), Savings Institutions and Other Depository Credit Intermediation (52218)
- SIC
- Savings Institutions, Not Federally Chartered (6036), Finance Services (6199)
- akta.pro primary industry
- Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value) (FSAGAAAD)
- akta.pro secondary industries
- Merchant / Closed-Loop Wallets (Retail & Marketplace) (FSAMAEAF), International / Multi-Currency Wallets (FSAMAEAL)
Keywords
Where myCircle is headquartered
LocationHeadquarters
- HQ city
- Lekki
- HQ country
- Nigeria
- HQ region
- Africa
Offices2 records
Markets served
myCircle business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Interest Income on Savings: myCircle generates revenue from the interest earned on pooled user savings held in accounts managed by a SEC-registered Fund/Portfolio Manager. Users receive over 15% annual interest, with myCircle retaining a portion of generated interest as revenue. Circle creators also earn a percentage of the interest generated by their circle members.
- Circle Creator Earnings: Users who create circle groups earn a percentage of the interest accrued by members within their circles. This creates a revenue-sharing model where active circle administrators receive monthly payouts based on group savings performance.
- Merchant Partnership Revenue: myCircle partners with merchants who offer discounts on purchases made through the myCircle checkout. Revenue may be generated through merchant partnership fees, transaction take-rates, or revenue-sharing arrangements on the discount wallet feature.
- Business API / Payment Processing: myCircle offers businesses an integratable payment API that allows them to accept myCircle wallet payments. This creates a B2B revenue stream from transaction processing fees charged to merchants and businesses using the payment infrastructure.
- Penalty Fees: A 2.5% penalty fee is charged for early or off-schedule withdrawals outside the published withdrawal dates, providing an additional revenue stream from users who withdraw outside designated payout windows.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Core Savings — Free |
| Subscription | Monthly | Premium / myCircle Account |
| Transaction based/ take rate | Pay-as-you-go | Early Withdrawal Penalty |
| Transaction based/ take rate | Pay-as-you-go | Business API Access |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels7 records
myCircle product offering
Product offeringCore offering
myCircle is a Nigerian fintech platform that lets individuals create or join cross-border, multi-currency group savings circles earning over 15% annual interest, supplemented by automatic savings earned through merchant discounts of up to 30%, a circle-creator revenue-share program, a social networking layer for financially verified members, and a business-facing Circle Payment Wallet API enabling merchants to accept wallet payments and access financially verified customers.
Product overview
myCircle is a financial technology platform organized as a unified product with multiple integrated modules. The core platform provides cross-border and multicurrency group savings functionality, supplemented by Save (high-interest savings groups), Spend (merchant discount-driven automatic savings), Earn (creator commission on circle group interest), Socialize (community networking), and the Circle Payment Wallet API (business payment integration). The platform operates in Nigeria with banking partnerships and is registered with regulatory bodies including CBN, SEC, and Lagos State Cooperative Societies.
Differentiator
Problem solved
Functional benefit
Products and services
- myCircle Platform Core fintech platform that combines a digital wallet, group savings circles, automatic merchant-discount savings, social networking for verified members, and a creator earnings program for Nigerian consumers.
- Save Savings product offering over 15% annual interest on circle groups and unused wallet funds, with automated deposit options and flexible access across multiple groups, for Nigerian individuals aged 15+ with Nigerian bank accounts.
- Spend Wallet checkout and merchant-discount product that turns everyday spending into automatic savings by offering up to 30% discounts at 52+ partner merchants, with the discount auto-deposited to the user's wallet where it continues to earn interest every 30 days.
- Earn Earnings program that lets circle creators receive a percentage of the interest generated by their circle members' savings, with income tied to user milestones and the number/size of circles created.
- Socialize Social-networking feature for vetted, KYC-verified myCircle members, with circle threads, financial-literacy content, and the ability to build personal, business, or romantic relationships inside the platform.
- Circle Payment Wallet API Payment API product for Nigerian businesses and merchants to accept myCircle wallet payments at checkout and gain access to financially verified customers as qualified leads.
Quantifiable outcome
- Over 15% annual interest rate on savings across all circle groups and unused wallet funds
- +4 more outcomes
Companies that use myCircle
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles2 records
myCircle technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature6 records
myCircle partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- Bosak Microfinance BankcoreBanking services provided in partnership with Bosak Microfinance Bank, enabling wallet funding, fund transfers, and savings management. Bosak Microfinance Bank handles the underlying banking infrastructure for myCircle's financial services.
- Kuda Bank LimitedcoreBanking services provided in partnership with Kuda Bank Limited, complementing Bosak Microfinance Bank for wallet operations, fund transfers, and savings management.
- Security and Exchange Commission (SEC) — Registered TrusteecoreFunds held in trust by a company registered and regulated by the Security and Exchange Commission (SEC) of Nigeria. The SEC-registered trustee manages the pooled savings, providing regulatory oversight and investor protection.
- 52+ Partner MerchantscoreOver 52 merchants partner with myCircle to offer discounts (up to 30%) on purchases made through the myCircle checkout. Discounts auto-deposit into user savings wallets and continue earning interest. This creates a two-sided marketplace benefiting both merchants (sales growth) and users (savings acceleration).
- Corporate Affairs Commission (CAC), NigeriacoremyCircle is registered as Circle Tri-Angle Technology Limited with the Corporate Affairs Commission of Nigeria (RC: 1947714), establishing its legal corporate identity and regulatory standing.
- Central Bank of Nigeria (CBN)coremyCircle is regulated and operates in compliance with Central Bank of Nigeria regulations, including KYC requirements such as Bank Verification Number (BVN) collection and periodic KYC verification as prescribed by CBN.
- Lagos State Co-operative Societies DepartmentcoremyCircle's savings scheme is registered under the Co-operative Societies Laws of Lagos State with registration number LSCS 12432 as myCircle (Surulere) Multipurpose Cooperative Society Limited, enabling it to operate as a cooperative savings entity.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
myCircle competitors and assessment
Company assessmentEmerging players
- Branch International: Emerging-markets digital lender with a mobile wallet, savings and merchant payment offering operating in Nigeria. Comparable through its mobile-first savings/wallet experience targeting similar underbanked Nigerian consumers.
- Chipper Cash: Pan-African cross-border payments and consumer fintech active in Nigeria. Relevant peer for myCircle's cross-border, multi-currency wallet and circle features targeting the African diaspora.
Broad incumbents
- Kuda Bank: A CBN-licensed Nigerian neobank offering digital current accounts, savings and payments. Kuda is both a banking infrastructure partner of myCircle and a broad competitor for the same digitally active Nigerian retail customers.
- OPay: Africa-focused super-app with payments, ride-hailing, food delivery and merchant acquiring. Competes with myCircle on consumer wallet and merchant payment rails, especially in Nigeria.
Direct peers
- FairMoney: Nigerian digital bank offering savings, payments and consumer credit via mobile. Competes with myCircle for the same mass-market Nigerian savings and payment customers.
- Piggyvest: A leading Nigerian online savings and investment platform offering target savings, flexible wallets and group ('Piggybank') features. Direct competitor for retail deposit share in the same Nigerian market, with a more mature user base and significantly larger funding.
- Risevest: Nigerian investment platform for savings and dollar-denominated assets. Targets similar yield-seeking retail savers with regulated fund-management partnerships analogous to myCircle's SEC-registered trustee structure.
- Carbon (formerly Paylater): Nigerian digital lender and consumer finance app providing savings, bills and credit products. Overlaps directly with myCircle's consumer wallet, savings and merchant payment offering.
- Cowrywise: Nigerian fintech that helps users save and invest in money-market funds and traditional assets, with automated and goal-based savings. Highly comparable to myCircle's interest-bearing savings circles and regulatory partnership model.
Regional players
- Moniepoint: Nigeria-focused merchant payments and business banking platform. Comparable through its merchant acquiring/agent banking model, which intersects with myCircle's merchant checkout and B2B payment API.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
myCircle social profiles
Digital presencemyCircle compliance and trust
Trust signalCompliance5 records
myCircle financial estimates
Financial estimateRevenue estimate
Valuation estimate
myCircle leadership team
Management profileNumber of profiles
Profiles4 records
myCircle funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
myCircle 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 myCircle
What does myCircle do?
myCircle is a Nigerian fintech platform that lets individuals create or join cross-border, multi-currency group savings circles earning over 15% annual interest, supplemented by automatic savings earned through merchant discounts of up to 30%, a circle-creator revenue-share program, a social networking layer for financially verified members, and a business-facing Circle Payment Wallet API enabling merchants to accept wallet payments and access financially verified customers.
Is myCircle a public or private company?
myCircle is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was myCircle founded?
myCircle was founded in 2018. It employs 1 to 10 people.
Where is myCircle based?
myCircle is headquartered in Lekki, Nigeria, in the Africa region.
How does myCircle make money?
Five revenue lines are on record. Interest Income on Savings are the primary driver. The others are circle Creator Earnings, merchant Partnership Revenue, business API / Payment Processing and penalty Fees.
Who are myCircle's main competitors?
Emerging players on record are Branch International and Chipper Cash. Broad incumbents are Kuda Bank and OPay. Direct peers are FairMoney, Piggyvest, Risevest, Carbon (formerly Paylater) and Cowrywise. Moniepoint is listed as a regional player.
Does myCircle have an API?
Yes. The myCircle wallet API enables businesses to accept payments and triple sales demand. It provides access to financially verified customers and allows integration for payment processing on merchant websites.
What industry is myCircle in?
myCircle's product category is Digital Community Savings & Payments. Its primary akta.pro industry code is FSAGAAAD, Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value), with a secondary code of FSAMAEAF, Merchant / Closed-Loop Wallets (Retail & Marketplace). Its NAICS code is 52213 and its SIC code is 6036.