PayVite (FI Lagos24)
PayVite is a mobile-first cross-border remittance app enabling individual consumers and families in Guinea and Nigeria to send money and make payments between the two countries, earning revenue through transaction fees on a self-serve, product-led platform distributed via app stores.
- Company typePrivate
- Founded-
- HeadquartersConakry, Guinea
- Headcount1–10
- GTM typeB2C
- OfferingSoftware
What PayVite (FI Lagos24) does
PayVite is a mobile-first cross-border remittance and payment application that enables individuals and families in Guinea and Nigeria to send money to each other across borders. The platform is distributed via Google Play and Apple TestFlight as a self-serve consumer product, targeting everyday retail senders rather than enterprise or institutional clients. The company is privately held, was founded in 2023, and operates with a 5-person team spanning design, engineering, business, operations, customer success, and growth/marketing functions across offices in Conakry, Guinea and Lagos, Nigeria.
The underlying technology is a mobile application (Android and iOS) paired with a web platform, supported by digital KYC using government-issued IDs and BVN, third-party identity verification integrations, and standard web infrastructure including cookies and web beacons for analytics and account security. PayVite relies on partner financial and payment service providers to facilitate cross-border settlement, with user identity and banking details shared with these partners to enable transactions. The company explicitly disclaims liability for partner defaults, indicating an orchestration-layer architecture rather than a vertically integrated payments stack.
The business model is transaction-fee based: account creation is free, and revenue is generated through fees on cross-border transfers and payments between Guinea and Nigeria. Pricing is not publicly disclosed. Go-to-market is product-led growth via app store distribution, complemented by a corporate website, organic social media presence on Facebook, Instagram, LinkedIn, and Twitter, and 24/7 customer support. No funding rounds, patents, awards, certifications, or enterprise customers are disclosed, and the company has no publicly reported revenue, user count, or transaction volume figures.
PayVite (FI Lagos24) firmographics
Firmographics- Name
- PayVite (FI Lagos24)
- Legal name
- PayVite
- Website
- https://payvite.tech
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- PayVite is a mobile-first cross-border remittance app enabling individual consumers and families in Guinea and Nigeria to send money and make payments between the two countries, earning revenue through transaction fees on a self-serve, product-led platform distributed via app stores.
- Ownership category
- akta.pro rank
PayVite (FI Lagos24) industry classification
Industry- Product category
- Cross-Border Mobile Remittance
- akta.pro primary industry
- Consumer P2P International Remittances (FSAGAKAA)
- akta.pro secondary industries
- Consumer Remittances (P2P) (FSAMAIAA), Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ)
Keywords
Where PayVite (FI Lagos24) is headquartered
LocationHeadquarters
- HQ city
- Conakry
- HQ country
- Guinea
Offices2 records
Markets served
PayVite (FI Lagos24) business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Cross-Border Transaction Fees: PayVite generates revenue through transaction fees charged on international money transfers and payments between Guinea and Nigeria. The platform advertises 'low fees' as a key value proposition, indicating a transaction-based pricing model.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Free account creation with transaction-based fees |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
PayVite (FI Lagos24) product offering
Product offeringCore offering
PayVite is a mobile-first fintech application that enables individuals and families to make cross-border payments and send money to friends and family between Guinea and Nigeria. The platform emphasizes low fees, fast transfers, secure transactions, and 24/7 customer support, with global accounts accessible within minutes and no hidden charges. It is distributed through Google Play and Apple TestFlight as a self-service consumer product.
Product overview
PayVite is a single unified mobile application that enables users to make cross-border payments and send money between Guinea and Nigeria. The platform provides fast, low-fee international transfers with secure transactions, offering global accounts and 24/7 customer support. Available on iOS (App Store/TestFlight) and Android (Google Play).
Differentiator
Problem solved
Functional benefit
Products and services
- PayVite Mobile App A mobile-first application for individual consumers and families that enables cross-border payments and money transfers between Guinea and Nigeria, offering low fees, fast transfers, secure transactions, global accounts in minutes, and 24/7 customer support. Available on Android (Google Play) and iOS (Apple TestFlight), with a companion web presence.
Companies that use PayVite (FI Lagos24)
Customer profileSegments1 record
Ideal customer profiles1 record
PayVite (FI Lagos24) technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
PayVite (FI Lagos24) partnerships and signals
Strategic signalScale indicators1 record
Recent moves5 records
Expansion highlights4 records
PayVite (FI Lagos24) competitors and assessment
Company assessmentBroad incumbents
- Remitly: Large public-market digital remittance company serving numerous corridors globally, including Nigeria. Comparable business model (transaction fees on cross-border transfers) and mobile-first delivery, but operates at significantly larger scale and corridor breadth.
- Wise (TransferWise): Global money transfer and multi-currency account platform with corridors reaching Nigeria. Comparable in cross-border payment infrastructure and low-fee positioning, though Wise's breadth of product and geography far exceeds PayVite's single-corridor focus.
Direct peers
- Chipper Cash: Africa-focused fintech offering cross-border P2P transfers and payments across multiple African countries via a mobile app. Highly comparable in target customer (African consumers/families), mobile-first delivery, and corridor specialization within Africa.
- Sendwave: Mobile remittance app purpose-built for African corridors, including Nigeria and several West African countries. Closely comparable in target customer (diaspora sending to family), product format (mobile app), and corridor specialization.
- Small World Money Transfer: Cross-border remittance service with strong coverage of African corridors including Nigeria. Comparable as a consumer-facing remittance provider operating in similar African transfer lanes via mobile and web channels.
- WorldRemit: Global digital remittance platform serving corridors across Africa including Nigeria and several West African destinations. Directly comparable as a consumer P2P cross-border money transfer service via a mobile-first experience.
Regional players
- Wave: Mobile money operator in West Africa (Senegal, Côte d'Ivoire, Mali, Burkina Faso) offering P2P transfers and payments. Comparable in mobile-first African remittance use cases, though Wave operates in adjacent rather than identical Guinea-Nigeria geography.
Emerging players
- Taptap Send: Mobile remittance app focused on corridors to Africa, Asia, and Latin America, with a no-fee value proposition. Comparable in lean mobile-first distribution and emerging-stage position in the consumer cross-border remittance market.
- LemFi: Cross-border payment app for African diaspora sending money to Nigeria, Ghana, Kenya, and other African countries. Comparable in target diaspora customer, mobile-first design, and corridor focus, with similar early-stage positioning.
Others
- MFS Africa (Onafriq): Pan-African digital payments network enabling cross-border mobile money transfers across dozens of African markets. Comparable as enabling infrastructure for cross-border payments in Africa, though Onafriq operates as a B2B network rather than a direct consumer app.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat2 records
Key risks6 records
Key highlights5 records
Customer concentration
PayVite (FI Lagos24) social profiles
Digital presencePayVite (FI Lagos24) financial estimates
Financial estimateRevenue estimate
Valuation estimate
PayVite (FI Lagos24) leadership team
Management profileNumber of profiles
Profiles5 records
PayVite (FI Lagos24) funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PayVite (FI Lagos24) 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 PayVite (FI Lagos24)
What does PayVite (FI Lagos24) do?
PayVite is a mobile-first fintech application that enables individuals and families to make cross-border payments and send money to friends and family between Guinea and Nigeria. The platform emphasizes low fees, fast transfers, secure transactions, and 24/7 customer support, with global accounts accessible within minutes and no hidden charges. It is distributed through Google Play and Apple TestFlight as a self-service consumer product.
Is PayVite (FI Lagos24) a public or private company?
PayVite (FI Lagos24) is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was PayVite (FI Lagos24) founded?
PayVite (FI Lagos24) was founded in -1. It employs 1 to 10 people.
Where is PayVite (FI Lagos24) based?
PayVite (FI Lagos24) is headquartered in Conakry, Guinea.
How does PayVite (FI Lagos24) make money?
One revenue line is on record: cross-Border Transaction Fees.
Who are PayVite (FI Lagos24)'s main competitors?
Broad incumbents on record are Remitly and Wise (TransferWise). Direct peers are Chipper Cash, Sendwave, Small World Money Transfer and WorldRemit. Wave is listed as a regional player. Emerging players are Taptap Send and LemFi. MFS Africa (Onafriq) is listed as an others.
Does PayVite (FI Lagos24) have an API?
No public API is recorded for PayVite (FI Lagos24).
What industry is PayVite (FI Lagos24) in?
PayVite (FI Lagos24)'s product category is Cross-Border Mobile Remittance. Its primary akta.pro industry code is FSAGAKAA, Consumer P2P International Remittances, with a secondary code of FSAMAIAA, Consumer Remittances (P2P).