What Hyves does

Hyves is a Lagos, Nigeria-based software company, founded in 2024, that builds a SaaS enterprise resource planning (ERP) platform targeted at cooperative societies. The platform centralises core cooperative financial and administrative operations, including loan management with automated credit scoring, member contribution tracking, a digital wallet, and multi-branch support, and is delivered through a web application as well as native iOS and Android apps. The product is purpose-built for the cooperative structure (members, contributions, dividends, internal lending) rather than a generic SMB ERP, and is positioned to address the operational fragmentation typical of Nigerian cooperatives, which historically rely on manual ledgers and fragmented tools.

The business operates a freemium pricing model, allowing cooperatives to onboard and use baseline functionality before converting to paid tiers; specific paid-tier pricing is not publicly disclosed. Go-to-market combines direct sales with product-led growth, and the company is building an ecosystem layer through partnerships with Fincra (payment processing), Prembly (KYC and identity verification), Peswa, and Vanni, which collectively embed financial infrastructure into the platform. The company is founder-led (CEO Richmond Oghenedoro, CGO Ekundayo Kiyesi, Head of Engineering Wisdom Diala, PM Precious Obodo), operates with 1-10 employees, and has publicly stated a vision to scale into a pan-African cooperative ecosystem by 2030. Disclosed named customers are limited to two small cooperatives, and no revenue, funding, or ARR figures are publicly available.

Name

Hyves

Legal name

Hyves Technology Limited

Website

https://hyves.ng

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Hyves is a Lagos-based SaaS ERP for Nigerian cooperatives, offering loan management, contribution tracking, digital wallet, and multi-branch support via web and mobile under a freemium model, with a stated 2030 pan-African expansion vision.

Ownership category

akta.pro rank

Product category

Cooperative Management Software

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (51821)

SIC

Services-Prepackaged Software (7372), Services-Computer Processing & Data Preparation (7374)

akta.pro primary industry

Core ERP Suites (Financials, Procurement, Projects) (HDAEAEAA)

Keywords

• Cooperative management software
• Digital cooperative platform
• Savings and loans software
• Cooperative ERP system
• Member management software

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. SaaS Platform Subscription: Hyves operates as a SaaS ERP platform for cooperatives. The 'Get Started for Free' messaging suggests a freemium model where cooperatives can start at no cost, with paid tiers for advanced features. Financial services access from partners provides additional value to members.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Hyves is a Software-as-a-Service (SaaS) Enterprise Resource Planning (ERP) platform built for cooperatives in Nigeria. The platform automates the full lifecycle of cooperative operations including loan management, contribution tracking, member digital wallets, financial reporting, bookkeeping, and multi-branch administration. It is offered as a single unified cloud-based system with native iOS and Android mobile applications.

Product overview

Hyves is a single, unified Digital Cooperative ERP Platform branded as "The Operating System for Modern Cooperatives." The platform consists of an integrated suite of core product modules including Loan Management, Contribution Tracking, Digital Wallet, Real-time Dashboard, Bookkeeping, Financial Reporting, Member Management, Multi-branch Support, and Enterprise Security. These modules work together as a cohesive end-to-end ERP system to automate and digitize all aspects of cooperative operations, from member onboarding and savings collection to loan processing and financial reporting. The platform also includes native mobile applications for iOS and Android, and provides access to financial services from third-party partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Hyves Cooperative ERP Platform A cloud-based Software-as-a-Service (SaaS) Enterprise Resource Planning platform purpose-built for cooperatives in Nigeria. It unifies loan management, contribution tracking, digital wallets, real-time dashboards, automated bookkeeping, financial reporting, member management, and multi-branch administration into a single end-to-end operating system for modern cooperatives.
• Hyves Mobile App (iOS) Native iOS application that allows cooperative administrators and members to manage contributions, loans, wallets, and reporting on Apple devices. Distributed via the Apple App Store.
• Hyves Mobile App (Android) Native Android application that allows cooperative administrators and members to manage contributions, loans, wallets, and reporting on Android devices. Distributed via the Google Play Store.

Quantifiable outcome

• Setup takes less than 10 minutes - enabling rapid time to value
• +1 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature8 records

Partnerships

One partnership is on record.

• VannicoreTechnology or IntegrationVanni is shown as a partner logo on the Hyves website, representing a cooperative partner that has integrated with or is featured on the Hyves platform as part of the trusted partner ecosystem.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Others

• Branch International: Pan-African digital lending platform that competes for the same end-customer loan demand that Hyves-member cooperatives serve. Comparable in African footprint and digital lending mechanics; a competitor for cooperative members' borrowing, though not for the cooperative management software itself.
• Flutterwave: Pan-African payments infrastructure company with a comparable Nigerian base and partnership potential. Adjacent rather than direct: payments rails that could integrate with or compete against Hyves' financial-services layer.
• Paystack: Nigerian payments processor acquired by Stripe that provides the digital payment rails Hyves relies on. Comparable in geography and fintech-adjacent functionality; an infrastructure partner and potential competitor for embedded payments in cooperatives.
• Piggyvest: Nigerian consumer savings and investment platform that serves cooperative-style group savings use cases. Overlaps with Hyves on collective savings behavior but targets individuals rather than registered cooperatives as the primary customer.

Direct peers

• Bankingly: Digital banking platform purpose-built for credit unions and cooperatives, offering member-facing apps, loan origination, and core integrations. Highly comparable to Hyves in target customer, product scope, and SaaS delivery model.
• Oradian: Cloud banking platform built specifically for microfinance institutions and cooperatives across emerging markets, with similar SaaS-based delivery and member/loan management depth. Direct competitor to Hyves in serving community-based financial groups with digital core banking tooling.

Emerging players

• Mifos Initiative: Open-source platform for microfinance institutions, SACCOs, and cooperatives with modules for loans, savings, and member management. Directly comparable in domain (community finance) and module coverage, though delivered as open-source rather than commercial SaaS.

Broad incumbents

• Temenos: Established global core banking vendor serving retail, SME, cooperative, and microfinance segments worldwide. Overlaps with Hyves in core banking/loan functionality but targets large institutions with on-prem/hybrid deployments rather than a vertical SaaS wedge.
• Mambu: Global cloud-native core banking platform serving a wide range of financial institutions including MFIs and cooperatives. Comparable in SaaS delivery and loan/deposit functionality, though broader in scope and much larger in scale than Hyves.
• Finastra: Large incumbent provider of core banking, lending, and digital channel software to banks and credit unions globally. Comparable in member/loan management breadth but operates as a broad suite rather than a cooperative-focused vertical product.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors

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 Hyves