Solomonhills
- Company typePrivate
- Founded2022
- HeadquartersNguru, Nigeria
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
Solomonhills firmographics
Firmographics- Name
- Solomonhills
- Legal name
- Solomonhills Investment Limited
- Website
- https://solomonhills.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Solomonhills industry classification
Industry- Product category
- Digital Cooperative Savings and Investment Platform
- NAICS
- Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141)
- akta.pro industry
- Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks)Financial & Insurance/Banking (Commerical, Retail & Consumer)/Community & Cooperative Banking (Credit Unions, Mutuals)
Keywords
Where Solomonhills is headquartered
LocationHeadquarters
- HQ city
- Nguru
- HQ country
- Nigeria
- HQ region
- Africa
Offices1 record
Markets served
Solomonhills business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure
Revenue model
- Brooks Subscription Fees: Monthly cooperative subscriptions with minimum 500 Naira one-time payment and automatic monthly renewal. Subscribers gain access to loan facilities up to 2x their subscription amount and annual dividends.
- Loan Interest Income: Brooks subscribers can borrow up to 2x their total subscription. Loan attracts 3.5% interest rate on amount borrowed, with 0.4% monthly charge on repayment balance thereafter. Loan repayment stretched over 4-12 months.
- Annual Dividends: Cooperative model where profits may be distributed to members annually as dividends, paid into Divi account or bank account.
- Early Withdrawal Penalties: Penalty fees charged for early withdrawals before maturity: 5% on Bucket value, 5-6% on Hills withdrawals exceeding free withdrawal limits.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Brooks - Cooperative subscription with loan access |
| Subscription | Pay-as-you-go | Bucket - Goal-oriented savings with 8-12% returns |
| Subscription | Pay-as-you-go | Hills - Investment product with daily compounding up to 15% |
| Subscription | Pay-as-you-go | Divi - Internal wallet with 5-10% returns |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Solomonhills product offering
Product offeringCore offering
Solomonhills operates a digital cooperative platform that enables Nigerian consumers to save, invest, and access small loans through four products: Brooks (cooperative subscription with loan access up to 2x subscription), Bucket (goal-based savings at 8-12% p.a.), Hills (long-term investment with daily compounding at 8-15% p.a.), and Divi (internal wallet earning 5-10% p.a.). All products feature no management fees, daily interest accrual, and a community-driven annual dividend model.
Product overview
Solomonhills is a modern digital cooperative platform in Nigeria that offers four core savings and investment products. Brooks is a cooperative subscription savings product with loan access capabilities. Bucket enables goal-oriented savings with customizable frequencies. Hills provides long-term investment with daily compounding interest and automatic reinvestment. Divi serves as an internal wallet for fund management and transfers between products. The platform aims to help users build wealth through smart savings, accessible loans, sustainable investments, and community support.
Differentiator
Problem solved
Functional benefit
Brands
- Brooks: A cooperative subscription savings product with loan opportunity. Brooks combines long-term financial planning with flexibility of accessing funds when needed.
- Bucket
- Hills
- Divi
Products and services
- Brooks A cooperative subscription savings product combining long-term financial planning with flexibility to access funds when needed. Subscribers make a minimum 500 Naira one-time payment plus automatic monthly renewals and can borrow up to 2x their total subscription at 3.5% interest, with annual dividends distributed to members.
- Bucket A goal-oriented savings product that lets users create buckets toward specific financial goals with customizable contribution frequency (daily, weekly, or monthly). Minimum 200 Naira for daily/weekly plans and 500 Naira for monthly plans, earning 8-12% interest annually. Early withdrawal incurs a 5% penalty on bucket value.
- Hills A long-term investment product with daily compounding interest of 8-15% per annum and automatic reinvestment. Minimum investment is 50,000 Naira with 10,000 Naira top-ups; first withdrawal is locked for 90 days, with 4 free withdrawals per year thereafter and penalties of 5-6% on excess Hills withdrawals.
- Divi An internal wallet within the Solomonhills ecosystem used to fund accounts via debit cards, transfer money between products, and store emergency funds. Divi earns daily interest of 5-10% per annum and provides quick access to funds.
Quantifiable outcome
- Up to 15% interest per annum on Hills with daily compounding
- +4 more outcomes
Companies that use Solomonhills
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Solomonhills technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature5 records
Solomonhills partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- PaystackcorePaystack is the primary payment processor for Solomonhills, handling all debit card transactions. They are PCI DSS-compliant and ensure secure transmission of payment data. Solomonhills does not store card information on their servers.
- SEC-Registered Fund ManagercoreAll saved funds are warehoused and managed by a professional fund manager registered and licensed by the Securities and Exchange Commission (SEC). This ensures regulatory compliance and professional fund management.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
Solomonhills competitors and assessment
Company assessmentEmerging players
- Branch International: Branch is a digital lending platform operating across Africa and other emerging markets. Comparable to Solomonhills in mobile-first, underbanked consumer lending with similar small-ticket loan economics.
- Bamboo (formerly Chaka): Bamboo is a Nigerian investment platform providing access to local and global securities. Comparable to Solomonhills' Hills investment product in delivering yield-bearing investment products to Nigerian retail users.
- Moniepoint: Moniepoint is a Nigerian fintech (formerly TeamApt) with growing consumer-facing savings and lending offerings. Comparable financial-services reach targeting Nigerian individuals and SMBs, with stronger agent distribution.
Direct peers
- Carbon (formerly Paylater): Carbon is a Nigerian digital lending and savings platform. Comparable to Solomonhills' Brooks loan product and the broader savings-plus-credit wallet stack it offers to Nigerian consumers.
- Cowrywise: Cowrywise is a Nigerian fintech offering automated savings, mutual fund investments, and halal portfolios. Closely comparable to Solomonhills across the savings and investment value chain, with a similar regulatory positioning using SEC-registered fund managers.
- Renmoney: Renmoney is a Nigerian consumer lending and savings institution. Comparable to Solomonhills in offering personal credit to Nigerian consumers alongside savings products, with similar Naira-denominated interest-rate economics.
- OPay: OPay is a Nigerian fintech super-app with payments, savings, and lending. Broadly incumbent in the same Nigerian consumer fintech space where Solomonhills operates, with overlapping savings and credit products.
- FairMoney: FairMoney is a Nigerian/emerging-markets digital lender offering personal loans and increasingly savings. Directly overlaps with Solomonhills' loan offering and the small-ticket subscription savings model.
- Piggyvest: Piggyvest is a Nigerian digital savings and investment platform offering goal-based savings, fixed investments, and spending accounts. Direct competitor to Solomonhills' Bucket, Hills, and Divi products, targeting the same Nigerian mass-market consumer seeking inflation-beating returns.
- Kuda Bank: Kuda is a Nigerian digital-only bank offering savings, payments, and credit. Overlaps with Solomonhills on the savings and personal credit products and operates in the same end-market with a regulated banking license.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Solomonhills social profiles
Digital presenceSolomonhills compliance and trust
Trust signalCompliance2 records
Solomonhills financial estimates
Financial estimateRevenue estimate
Valuation estimate
Solomonhills leadership team
Management profileNumber of profiles
Profiles1 record
Solomonhills funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Solomonhills 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 Solomonhills
What does Solomonhills do?
Solomonhills operates a digital cooperative platform that enables Nigerian consumers to save, invest, and access small loans through four products: Brooks (cooperative subscription with loan access up to 2x subscription), Bucket (goal-based savings at 8-12% p.a.), Hills (long-term investment with daily compounding at 8-15% p.a.), and Divi (internal wallet earning 5-10% p.a.). All products feature no management fees, daily interest accrual, and a community-driven annual dividend model.
Is Solomonhills a public or private company?
Solomonhills is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Solomonhills founded?
Solomonhills was founded in 2022. It employs 11 to 50 people.
Where is Solomonhills based?
Solomonhills is headquartered in Nguru, Nigeria, in the Africa region.
How does Solomonhills make money?
Four revenue lines are on record. Brooks Subscription Fees are the primary driver. The others are loan Interest Income, annual Dividends and early Withdrawal Penalties.
Who are Solomonhills's main competitors?
Emerging players on record are Branch International, Bamboo (formerly Chaka) and Moniepoint. Direct peers are Carbon (formerly Paylater), Cowrywise, Renmoney, OPay, FairMoney, Piggyvest and Kuda Bank.
Does Solomonhills have an API?
No public API is recorded for Solomonhills.
What industry is Solomonhills in?
Solomonhills's product category is Digital Cooperative Savings and Investment Platform. Its primary akta.pro industry code is FSABAEAG, Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks). Its NAICS code is 52222 and its SIC code is 6141.