United Capital
United Capital Plc is a publicly listed Nigerian pan-African financial services group offering investment banking, asset management (AUM over $904.7 million), securities trading, wealth management, trusteeship, and consumer finance to corporates, governments, HNIs, retail, and African diaspora clients across 12 African countries.
- Company typePublic
- Founded1963
- HeadquartersLagos, Nigeria
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What United Capital does
United Capital Plc is a pan-African financial services group headquartered in Lagos, Nigeria, publicly listed on the Nigerian Exchange (ticker: UCAP) and operating across 12 countries in West, East, and Central Africa. The firm is majority-influenced by Heirs Holdings, the diversified investment company founded by Tony Elumelu, and operates through wholly-owned subsidiaries spanning Investment Banking, Asset Management (with AUM over US$904.7 million across 10+ mutual funds), Securities Trading (via the InvestNow digital platform), Wealth Management, Trusteeship (with over N8 trillion under administration), Consumer Finance, and Microfinance Banking (UCEE). It serves a diversified client base of corporate and government entities, high-net-worth individuals, mass affluent and retail investors, SMEs, and African diaspora clients, with UCEE Microfinance Bank and the USSD-based KashNow product extending reach into unbanked and underbanked segments.
The platform operates a digital-first technology architecture anchored by the InvestNow mobile and web app (iOS and Android), which provides real-time access to the Nigerian Exchange for stocks, mutual funds, and portfolio tracking through tools such as UTrace. Consumer finance products including KashNow (*5077# USSD), Dividend Loan, UC Easy Invest, and UC Invest margin financing extend credit and savings services beyond traditional channels, while UCAMWAL in Côte d'Ivoire (AMF-UMOA licensed) and recently secured licenses in Ethiopia and Rwanda extend the asset management and investment banking franchises into Francophone West and East Africa.
Revenue is generated through four primary streams: fees and commissions from investment banking advisory and capital markets transactions, net investment income from proprietary and managed portfolios, net trading income from licensed securities dealing on the Nigerian Exchange, and consumer finance interest income from asset-backed, margin, and digital loans. The firm monetizes through tiered pricing including minimum investments of N50 million for HNI portfolio management and N100 million for corporates, advisory fees for IB mandates, and unit pricing for UCAMWAL mutual funds starting from 5,000 FCFA, with performance benchmarks attached to discretionary mandates.
United Capital firmographics
Firmographics- Name
- United Capital
- Legal name
- United Capital Plc
- Website
- https://unitedcapitalplcgroup.com
- Company type
- Public
- Founded year
- 1963
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- United Capital Plc is a publicly listed Nigerian pan-African financial services group offering investment banking, asset management (AUM over $904.7 million), securities trading, wealth management, trusteeship, and consumer finance to corporates, governments, HNIs, retail, and African diaspora clients across 12 African countries.
- Ownership category
- akta.pro rank
United Capital industry classification
Industry- Product category
- Investment Banking
- NAICS
- Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940), Open-End Investment Funds (52591), Depository Credit Intermediation (5221), Funds, Trusts, and Other Financial Vehicles (525)
- akta.pro primary industry
- Corporate Finance & Capital Advisory (BPAHADAB)
- akta.pro secondary industries
- Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC), Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)
Keywords
Where United Capital is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices4 records
Markets served
United Capital business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Fees and Commission Income: Investment banking advisory fees, issuing house services for debt and equity capital raising, M&A advisory, and trusteeship fees. This includes fees from IPOs, bond issuances, rights issues, private placements, and restructuring mandates.
- Net Investment Income: Income from proprietary investments and asset management activities, including returns on the company's own investment portfolio and mark-to-market gains.
- Net Trading Income: Securities trading revenues from buying and selling equities, bonds, and other securities as a licensed dealing member of the Nigerian Exchange.
- Consumer Finance Interest Income: Interest income from asset-backed loans, UC Invest margin financing, UC Easy Invest, dividend loans, and KashNow digital loans.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Fixed Income Note with minimum ₦50,000,000 investment |
| Subscription | Annual | Portfolio Management Services minimums |
| Subscription | Annual | Investment Advisory minimums for HNWIs |
| Unit Pricing | Monthly | UCAMWAL Mutual Funds starting from 5,000 FCFA |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels6 records
United Capital product offering
Product offeringCore offering
United Capital Plc is a publicly listed pan-African investment banking and financial services group providing investment banking advisory and capital raising, asset management (mutual funds, portfolio management), wealth management, trusteeship, securities trading via the InvestNow digital platform, consumer finance loans (including KashNow digital micro-loans via USSD), UCEE Microfinance Bank services, and UCAMWAL asset management for francophone West Africa. Operations span 12 African countries, with direct licensing in Nigeria, Côte d'Ivoire, Ethiopia, and Rwanda.
Product overview
United Capital is a pan-African financial services institution offering a diversified portfolio of products and services through a platform-plus-modules architecture. The core offerings include Investment Banking (advisory, capital raising, M&A), Asset Management (mutual funds, portfolio management with AUM over US$904.7 million), Wealth Management, Securities Trading via InvestNow platform, Trusteeship, Consumer Finance (loans), and Diaspora Investment Services. The company operates subsidiaries including UCEE Microfinance Bank, UCAMWAL for Francophone West Africa, and the United Capital Infrastructure Fund (₦150bn). Asset Management offerings span 10+ mutual funds including Money Market, Stable Income, Balanced, Equity, Eurobond, Fixed Income, Sukuk, Global Fixed Income, Wealth for Women, and Children Investment Funds. Consumer Finance products include Asset Backed Loans, UC Invest margin financing, UC Easy Invest, Dividend Loans, and KashNow digital loans.
Differentiator
Problem solved
Functional benefit
Brands
- InvestNow: Digital investment platform for trading stocks, accessing mutual funds, and managing investments via mobile app
- UCEE Microfinance Bank
- UCAMWAL
- KashNow
- United Capital Infrastructure Fund (UCIF)
Products and services
- Asset Management Expert investment management services providing structured solutions through Portfolio/Fund Management, 10+ Mutual Funds (Money Market, Stable Income, Balanced, Equity, Eurobond, Fixed Income, Sukuk, Global Fixed Income, Wealth for Women, Children Investment), and Investment Advisory services for institutional and retail clients.
- Wealth Management Comprehensive private wealth services providing global investment management, retirement planning, bespoke financial advisory, and portfolio management across local and global asset classes for high net worth individuals.
- Trustees Award-winning trustee services providing estate planning, corporate trust, public trust, and Islamic trust services for individuals, corporates, and government-related bond issuances, managing over N8 trillion in trust transactions across more than 300 major deals.
- Securities Trading (InvestNow) Licensed dealing member of the Nigerian Exchange (NGX) providing direct market access for buying and selling equities and bonds for institutional and retail clients, with the InvestNow mobile platform enabling real-time trading and portfolio management.
- Consumer Finance Fast, flexible financing solutions including Asset Backed Loans (up to 95% of investment value), UC Invest margin financing, UC Easy Invest installment contributions, Dividend Loans (up to 100% of declared dividends), and KashNow digital loans via USSD for personal and business needs.
- Investment Banking Strategic financial advisory and capital raising services for corporates and government entities, including Debt Capital Markets, Equity Capital Markets, Project Finance, Mergers & Acquisitions, and Structured Finance advisory. Includes issuing house services for IPOs, bond issuances, rights issues, private placements, and restructuring mandates.
- Diaspora Investment Services Comprehensive investment services for Nigerians in diaspora enabling them to grow, manage, and protect wealth in their home countries, bundling asset management, securities trading, trusteeship, and wealth management accessible globally through an integrated ecosystem with partners including UBA Pensions, Heirs Insurance, Avon Healthcare, and Afriland Properties.
- UCEE Microfinance Bank Digital-first microfinance bank offering simple, smart banking products including savings accounts, payments, and consumer borrowing for SMEs and individual consumers, promoting financial inclusion across Nigeria.
- UCAMWAL (United Capital Asset Management West Africa) Asset management subsidiary licensed by AMF-UMOA for the WAEMU region, offering mutual funds (starting from 5,000 FCFA), portfolio management, and investment advisory services in Francophone West Africa from headquarters in Abidjan, Côte d'Ivoire.
- United Capital Infrastructure Fund (UCIF) A ₦150 billion close-ended infrastructure investment fund registered with SEC for infrastructure development projects across Africa, providing institutional and qualified investors with exposure to African infrastructure assets.
Quantifiable outcome
- Revenue grew 35% to N58.55 billion in FY 2025
- +4 more outcomes
Companies that use United Capital
Customer profileNamed customers8 records
Segments5 records
Ideal customer profiles4 records
United Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
United Capital partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor, core and supporting.
- Mobihealth InternationalminorUnited Capital acted as transaction advisor for Mobihealth International's N1 billion equity investment from SCM Capital to expand telehealth services across Nigeria, demonstrating investment banking advisory capabilities.
- United Bank for Africa (UBA)corePartnership on diaspora banking and investment platform to redirect Africa's $100 billion annual remittance flows into structured financial products. United Capital provides investment management, securities trading, and wealth management services within the ecosystem.
- Africa Prudential PlcsupportingPartner in integrated diaspora investment ecosystem providing financial services for Africans living abroad.
- UBA PensionssupportingPartner in diaspora investment platform providing pension products for Africans living abroad to access long-term retirement planning.
- Heirs Insurance GroupsupportingPartner in diaspora investment ecosystem providing insurance products as part of comprehensive financial services for global Africans.
- Afriland PropertiessupportingPartner in diaspora platform providing real estate investment opportunities for Africans seeking property investments in their home countries.
- Avon Healthcare LimitedsupportingPartner in diaspora investment ecosystem providing healthcare services as part of comprehensive financial and wellness offerings.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
United Capital competitors and assessment
Company assessmentBroad incumbents
- Stanbic IBTC Holdings: Stanbic IBTC is a large Nigerian financial services group (part of Standard Bank) providing investment banking, asset management, pension administration, and securities trading — comparable to United Capital but operating at materially larger scale with broader product breadth and global backing.
Direct peers
- Chapel Hill Denham: Chapel Hill Denham is a Nigerian investment banking firm providing capital markets advisory, securities trading, asset management, and trusteeship — directly competing with United Capital's subsidiaries in the same Nigerian institutional client base.
- Coronation Merchant Bank: Coronation is a Nigerian merchant bank providing investment banking, asset management, and securities services — directly competing with United Capital for corporate finance mandates and institutional investor relationships in Nigeria.
- SCM Capital: SCM Capital is a Nigerian investment banking and securities firm active in capital markets, asset management, and advisory — directly comparable to United Capital's IB and AM franchises, and a recurring counterparty (e.g., co-advised on Mobihealth transaction).
- Vetiva Capital Management: Vetiva is a Nigerian investment banking and asset management firm with capital markets, securities trading, and mutual fund businesses — overlapping directly with United Capital's core offerings, including sharing key talent alumni (United Capital's current IB MD previously led Vetiva's IB team).
- Cardinalstone Partners: Cardinalstone is a leading Nigerian investment banking and asset management group offering securities trading, wealth management, advisory, and fund management — directly comparable to United Capital across multiple business lines including institutional brokerage, mutual funds, and corporate finance.
- FSDH Merchant Bank: FSDH Group is a Nigerian financial services conglomerate offering merchant banking, asset management, securities trading, and pension fund administration — directly comparable to United Capital's diversified platform, particularly given United Capital's Chief Economist's 19-year tenure at FSDH.
Emerging players
- Renaissance Capital: Renaissance Capital is an emerging-markets focused investment bank with significant African equities research, trading, and advisory operations — overlapping with United Capital's investment banking and securities trading franchise, particularly in cross-border mandates.
- ARM Pensions (Asset & Resource Management): ARM is a Nigerian asset and wealth management group with mutual funds, pension administration, and investment advisory — overlapping with United Capital's asset management and trusteeship businesses, particularly via ARM Trustees which competes directly with United Capital Trustees.
Regional players
- Rand Merchant Bank Nigeria: Rand Merchant Bank is the African investment banking arm of FirstRand Group, operating in Nigeria and across the continent with corporate finance, advisory, and trading capabilities — comparable to United Capital's pan-African investment banking ambitions but backed by a South African parent.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
United Capital social profiles
Digital presenceUnited Capital compliance and trust
Trust signalCompliance2 records
United Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
United Capital leadership team
Management profileNumber of profiles
Profiles14 records
United Capital subsidiaries and ownership
Company hierarchySubsidiaries10 records
United Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
United Capital M&A and investment
M&A and investmentM&A
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about United Capital
What does United Capital do?
United Capital Plc is a publicly listed pan-African investment banking and financial services group providing investment banking advisory and capital raising, asset management (mutual funds, portfolio management), wealth management, trusteeship, securities trading via the InvestNow digital platform, consumer finance loans (including KashNow digital micro-loans via USSD), UCEE Microfinance Bank services, and UCAMWAL asset management for francophone West Africa. Operations span 12 African countries, with direct licensing in Nigeria, Côte d'Ivoire, Ethiopia, and Rwanda.
Is United Capital a public or private company?
United Capital is a public company. It is classified as public and is currently operating.
When was United Capital founded?
United Capital was founded in 1963. It employs 101 to 250 people.
Where is United Capital based?
United Capital is headquartered in Lagos, Nigeria, in the Africa region.
How does United Capital make money?
Four revenue lines are on record. Fees and Commission Income is the primary driver. The others are net Investment Income, net Trading Income and consumer Finance Interest Income.
Who are United Capital's main competitors?
Stanbic IBTC Holdings is listed as a broad incumbent. Direct peers are Chapel Hill Denham, Coronation Merchant Bank, SCM Capital, Vetiva Capital Management, Cardinalstone Partners and FSDH Merchant Bank. Emerging players are Renaissance Capital and ARM Pensions (Asset & Resource Management). Rand Merchant Bank Nigeria is listed as a regional player.
Does United Capital have an API?
No public API is recorded for United Capital.
What industry is United Capital in?
United Capital's product category is Investment Banking. Its primary akta.pro industry code is BPAHADAB, Corporate Finance & Capital Advisory, with a secondary code of BPAHAOAD, Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit). Its NAICS code is 523.