Simplex Business Solutions
Simplex Business Solutions is a Lagos-based, founder-owned software firm that builds proprietary vertical software and custom enterprise applications for Nigerian financial services, insurance, healthcare, oil & gas, and pension fund clients, generating revenue through project-based contracts and product licensing.
- Company typePrivate
- Founded2006
- HeadquartersLagos, Nigeria
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Simplex Business Solutions does
Simplex Business Solutions (SBS) Limited is a Lagos-based, founder-owned software development firm founded in 2006 that builds and supports vertical-specific business software for Nigerian enterprises. Its stated vision is to be the preferred provider of customized business software solutions in Africa, and its stated mission is to increase clients' competitive advantage through operational efficiency improvements. The company employs approximately 30 skilled experts (per company statistics) and serves a clientele that includes oil & gas majors (Chevron, Shell, Total) and financial institutions (Stanbic IBTC, Citi Trust, Quantum Zenith, FCMB Pensions) across financial services, insurance, healthcare, and pension fund administration.
The product portfolio is organized into three proprietary vertical solution families — investment solutions (iMoneytor, Mutual Funds, IFunding), insurance solutions (iMultiplan, Group-plan, Simplex Travel, Takaful, MediGuard), and accounting solutions (Simplex Fawin, Simplex Beacon, Simplex iGalaxy) — augmented by Qlik Sense business intelligence offerings and a Customer Onboarding Solutions platform. Supporting services include custom software development, mobile app development, enterprise software, cloud and hybrid infrastructure, and application support. Technology is built on Microsoft, mobile, and cloud/hybrid infrastructure stacks, with deep domain specialization in IFRS-compliant accounting and policy administration workflows.
Revenue is generated primarily through bespoke software development projects delivered on a quote-based, multi-year contract model with enterprise clients, supplemented by product licensing for proprietary vertical software, infrastructure support, and regulatory advisory services (ITF Reimbursement and NSITF Compliance consulting). The go-to-market is direct enterprise sales, with no channel partners, resellers, or marketplace presence. Geographic reach is single-country (Nigeria), and the company is independently operated with no disclosed external investment, acquisitions, or public listing.
Simplex Business Solutions firmographics
Firmographics- Name
- Simplex Business Solutions
- Legal name
- Simplex Business Solutions (SBS) Limited
- Website
- https://simplexsystem.com
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Simplex Business Solutions is a Lagos-based, founder-owned software firm that builds proprietary vertical software and custom enterprise applications for Nigerian financial services, insurance, healthcare, oil & gas, and pension fund clients, generating revenue through project-based contracts and product licensing.
- Ownership category
- akta.pro rank
Simplex Business Solutions industry classification
Industry- Product category
- Enterprise Vertical Software (Financial Services & Insurance)
- NAICS
- Software Publishers (5132), Custom Computer Programming Services (541511)
- SIC
- Services-Computer Programming Services (7371), Services-Prepackaged Software (7372)
- akta.pro primary industry
- Enterprise Application UX, Portals & Low-Code Extensions (BPAEAGAM)
- akta.pro secondary industry
- Document, Workflow & Policy Servicing Automation (RPA/No-Code) (FSAGAGAK)
Keywords
Where Simplex Business Solutions is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices1 record
Markets served
Simplex Business Solutions business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Custom Software Development Services: The company generates revenue through bespoke software development services including custom software, enterprise software solutions, and mobile app development. Services are tailored to client-specific requirements and delivered through a consultative sales process.
- ITF Reimbursement Consultancy: Expert consultancy services to help Nigerian employers recoup up to 50% of their Industrial Training Fund (ITF) levy payments. The company charges for this service with no upfront costs.
- NSITF Compliance Consulting: Specialized consulting services for Nigerian businesses to achieve NSITF compliance, including assessment, document preparation, and compliance certificate acquisition.
- Customer Onboarding Solutions: Development of tailored customer onboarding applications for businesses to streamline the process of bringing new customers or clients onboard.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom Quote-Based Pricing |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Simplex Business Solutions product offering
Product offeringCore offering
Simplex Business Solutions is a Lagos-based software development firm that sells bespoke and packaged vertical software products to enterprise clients in Nigeria's Financial Services, Insurance, Healthcare, Oil & Gas, and Pension Fund sectors. Its portfolio spans investment, insurance, accounting, and business intelligence software products (e.g., IMoneytor, iMultiplan, MediGuard, Simplex iGalaxy) alongside custom software development, mobile app development, cloud/hybrid infrastructure, and application support services.
Product overview
Simplex Business Solutions (SBS) Limited is a software development company headquartered in Lagos, Nigeria, founded in 2006 with over 20 years of experience delivering customized business software solutions primarily to the Financial Services, Insurance, Healthcare, Oil & Gas, and Pension Fund sectors. The portfolio is organized around a suite of domain-specific vertical software products and cross-cutting technology services. The product portfolio comprises three core vertical solution families: (1) Investment Solutions — IMoneytor, Mutual Funds, and IFunding for real-time portfolio management, fund management, and client monitoring; (2) Insurance Solutions — iMultiplan, Group-plan, Simplex Travel, Takaful, and Mediguard covering life, travel, Islamic, and health insurance administration; and (3) Accounting Solutions — SIMPLEX FAWIN (fixed asset management), SIMPLEX BEACON (bank reconciliation), and SIMPLEX iGALAXY (general ledger, moneybook, IFRS-compliant financial reporting). Adjacent to these, Qlik Sense provides Business Intelligence analytics, and Customer Onboarding Solutions addresses workflow automation for client onboarding. Technology services include Custom Software Development, Mobile App Development, Enterprise Software Solutions, Cloud Infrastructure, Hybrid Infrastructure, Application Support, and Infrastructure Support. Advisory offerings include ITF Reimbursement Services and NSITF Compliance Services. The products operate as standalone, configurable solutions that can be customized per client, rather than a single unified platform with add-on modules.
Differentiator
Problem solved
Functional benefit
Brands
- SIMPLEX FAWIN: Intelligent fixed asset manager for depreciation calculations and asset management procedures.
- SIMPLEX BEACON
- SIMPLEX iGALAXY
- iMultiplan
- Group-plan
- Takaful
- MEDIGUARD
- Simplex travel
- IMoneytor
- Mutual Funds
- IFunding
Products and services
- IMoneytor
- Mutual Funds
- IFunding
- iMultiplan
- Group-plan
- Simplex Travel
- Takaful
- MediGuard
- Simplex Fawin
- Simplex Beacon
- Simplex iGalaxy
- Qlik Sense
- Customer Onboarding Solutions
- Custom Software Development
- Enterprise Software Solutions
- Mobile App Development
- Application Support
- Infrastructure Support
- Cloud Infrastructure
- Hybrid Infrastructure
- ITF Reimbursement Service
- NSITF Compliance Service
Quantifiable outcome
- 50+ satisfied customers served
- +2 more outcomes
Companies that use Simplex Business Solutions
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles4 records
Simplex Business Solutions technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature13 records
Simplex Business Solutions partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- QlikcoreQlik is listed as a partner on the Simplex Business Solutions About Us page. Qlik Sense is mentioned as a business intelligence software product offered by Simplex, suggesting a technology partnership or integration relationship for business intelligence solutions.
- AppiancoreAppian is listed as a partner on the Simplex Business Solutions About Us page, suggesting a technology partnership for low-code automation or business process management solutions.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
Simplex Business Solutions competitors and assessment
Company assessmentDirect peers
- Software Group: Global vendor of digital core platforms for microfinance, insurance, and savings — direct peer in delivering vertical-specific automation software for insurance and financial institutions, particularly in emerging markets.
- AppZone: Nigerian fintech software company providing banking platforms (core banking, banking-as-a-service) for African banks and financial institutions — direct peer in Nigerian financial-services software.
- SystemSpecs: Nigerian software firm behind Remita and other enterprise/banking software; comparable as a Nigerian-founded software house serving enterprise and financial-institution customers with proprietary products and custom development.
- Seamfix: Nigerian software development firm with products in identity, eKYC, and financial inclusion — comparable as a Nigerian enterprise software vendor with similar geographic focus and customer profiles.
- NetSol Technologies: Emerging-markets-focused vendor of asset finance, leasing, and insurance software — comparable as an insurance and financial vertical software specialist with similar global-EM customer mix.
- Inlaks: Nigerian IT solutions provider specializing in banking technology, digital infrastructure, and IT services to financial institutions in West Africa — directly comparable in serving Nigerian bank/financial-services customers with vertical IT solutions.
Broad incumbents
- Sapiens International: Israel-based broad incumbent in insurance, reinsurance, and financial services software — comparable as an insurance vertical software vendor with broader portfolio and global reach than SBS.
- Duck Creek Technologies: US-headquartered broad incumbent providing core systems for P&C and life insurers — comparable as an insurance core systems vendor, but at much larger scale and broader geographic reach than SBS.
- Infosys Finacle: Large-scale banking platform business unit of Infosys used across emerging markets including Africa — comparable as an enterprise banking software vendor targeting similar tier-1 institutional customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Simplex Business Solutions social profiles
Digital presenceSimplex Business Solutions financial estimates
Financial estimateRevenue estimate
Valuation estimate
Simplex Business Solutions leadership team
Management profileNumber of profiles
Profiles6 records
Simplex Business Solutions funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Simplex Business Solutions 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 Simplex Business Solutions
What does Simplex Business Solutions do?
Simplex Business Solutions is a Lagos-based software development firm that sells bespoke and packaged vertical software products to enterprise clients in Nigeria's Financial Services, Insurance, Healthcare, Oil & Gas, and Pension Fund sectors. Its portfolio spans investment, insurance, accounting, and business intelligence software products (e.g., IMoneytor, iMultiplan, MediGuard, Simplex iGalaxy) alongside custom software development, mobile app development, cloud/hybrid infrastructure, and application support services.
Is Simplex Business Solutions a public or private company?
Simplex Business Solutions is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Simplex Business Solutions founded?
Simplex Business Solutions was founded in 2006. It employs 11 to 50 people.
Where is Simplex Business Solutions based?
Simplex Business Solutions is headquartered in Lagos, Nigeria, in the Africa region.
How does Simplex Business Solutions make money?
Four revenue lines are on record. Custom Software Development Services are the primary driver. The others are ITF Reimbursement Consultancy, NSITF Compliance Consulting and customer Onboarding Solutions.
Who are Simplex Business Solutions's main competitors?
Direct peers on record are Software Group, AppZone, SystemSpecs, Seamfix, NetSol Technologies and Inlaks. Broad incumbents are Sapiens International, Duck Creek Technologies and Infosys Finacle.
Does Simplex Business Solutions have an API?
No public API is recorded for Simplex Business Solutions.
What industry is Simplex Business Solutions in?
Simplex Business Solutions's product category is Enterprise Vertical Software (Financial Services & Insurance). Its primary akta.pro industry code is BPAEAGAM, Enterprise Application UX, Portals & Low-Code Extensions, with a secondary code of FSAGAGAK, Document, Workflow & Policy Servicing Automation (RPA/No-Code). Its NAICS code is 5132 and its SIC code is 7371.