tenboxx

What tenboxx does

Tenboxx is a Nigerian financial technology company that operates a mobile and web platform combining savings, investment, and credit services for individual consumers, SMEs, and students. The legal operating entity is a joint venture between Tenboxx Capital Limited, which provides the fintech technology layer, and Tenbox Cooperative Multipurpose Society Limited, a registered Nigerian cooperative society that supplies the deposit-taking capability. The platform, headquartered at 39 Alfred Rewane Road, Ikoyi, Lagos, distributes natively through iOS and Android applications and a responsive web front-end at tenboxx.ng, with self-serve onboarding and no physical-branch requirement.

The core product architecture is a unidirectional savings-and-credit loop: customers deposit funds into dividend-paying savings accounts, configure goal-based or automated savings plans, and use the accumulated balance to qualify for a savings-linked loan of up to twice the balance while still earning returns on the remainder. Beyond this anchor feature, Tenboxx has packaged three segment-specific loan products — Personal Loans (unsecured, flexible use), SME Loans (working capital and expansion), and Student Loans (tuition, textbooks, living expenses, with embedded career-support services) — each accessible from the same app with terms of 1-12 months and ticket sizes ranging from N100,000 to N10,000,000. A public loan calculator serves as the primary top-of-funnel tool, and features such as zero withdrawal fees, zero administration fees, and claims of 24-hour disbursement are positioned against incumbent banks and consumer lenders.

The business model rests on two revenue mechanics: net interest spread between deposit dividend rates paid to savers and interest charged on loans (the dominant stream), and ancillary transaction-related fee economics on the usage-based loan book. The company prices at the loan level on a pay-as-you-go basis with no prepayment penalties, while savings accounts are advertised as zero-fee subscriptions with no hidden charges. Go-to-market is product-led growth: customers download from Google Play or Apple App Store (App ID 6736524088), self-register, and access products without sales interaction. Ownership is founder-controlled under Olubusola Oyefeso (Founder & CEO, ICAN Fellow, 2001 career start), supported by a full C-suite (CXO, CXO/CPO, CFO Future, CPO, CPO People, CCO Compliance); no institutional investors, cap table, or parent company were identified in the data, and the company is privately held with no public listing.

Name

tenboxx

Legal name

Tenboxx Capital Limited

Website

https://tenboxx.ng

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Tenboxx is a Nigerian fintech mobile and web platform where individual consumers, SMEs, and students save, earn dividends, and access collateral-free loans of up to twice their savings balance through a single integrated application.

Ownership category

akta.pro rank

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Revenue generated from interest charged on personal loans, SME loans, and student loans. The platform offers competitive interest rates on borrowing products.
2. Savings Deposits: Accepts deposits from customers which are used to fund loan products. Interest spread between borrowing and lending rates generates revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Tenboxx is a Nigerian mobile-first financial platform that integrates savings, investment, and lending in a single application. Customers can earn dividends on savings, set goal-based savings plans, and apply for personal, SME, or student loans sized up to twice their savings balance. The product is accessed via iOS and Android apps and a responsive web platform, with loan terms from 1-12 months and amounts ranging from N100,000 to N10,000,000.

Product overview

Tenboxx is a financial technology platform developed by Tenboxx Capital Limited in partnership with Tenbox Cooperative Multipurpose Society Limited. The core product is the Tenbox App, a unified financial platform combining savings, investment, and loan services. The main offerings include three loan products (SME Loan, Personal Loan, and Student Loan) alongside savings features such as goal-based savings and high-yield savings accounts. The platform's key differentiator is its savings-linked loan feature that allows users to borrow up to twice their savings balance while continuing to earn returns. The platform is accessible via mobile applications on Google Play and Apple App Store.

Differentiator

Problem solved

Functional benefit

Products and services

• Tenboxx App Mobile and web platform that combines savings, investment, and loan management in a single user-friendly application for individual consumers, SMEs, and students in Nigeria.
• SME Loan Business financing service offering flexible funding options for small and medium enterprises, including working capital loans and expansion financing, with competitive interest rates and dedicated relationship management.
• Personal Loan Unsecured personal loans with quick approval and flexible repayment terms aimed at debt consolidation, unexpected expenses, or personal funding needs.
• Student Loan Education financing service covering tuition fees, textbooks, living expenses, and professional courses with competitive rates, no prepayment penalties, and career-support services.
• High-Yield Savings Accounts Savings accounts with competitive interest rates (dividend-paying) designed to outperform traditional savings accounts and protect against inflation, with no admin, management, or withdrawal fees.

Quantifiable outcome

• Funds disbursed within 24 hours of loan approval
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Tenboxx Capital LimitedcoreStrategic or Co-development PartnerJoint venture partner providing technological expertise and fintech capabilities. Tenboxx Capital Limited combines with Tenbox Cooperative to create the Tenboxx App platform.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Carbon (formerly Paylater): Carbon is a Nigerian digital lending platform offering personal loans, savings, and investment products via a mobile app. It is the most directly comparable peer to Tenboxx, serving the same consumers, SMEs, and salaried workers with similar integrated save/invest/borrow functionality.
• Piggyvest: Piggyvest is a leading Nigerian savings and investment platform with goal-based savings, automated savings, and investment products. While it does not focus on lending, it directly competes with Tenboxx's savings features and target demographic of Nigerian savers seeking structured financial products.
• FairMoney: FairMoney is a Nigerian digital lender offering personal and SME loans via mobile app with instant approval. It overlaps with Tenboxx on personal loan and SME loan products, competing for the same underbanked Nigerian consumer and small business segments.
• Cowrywise: Cowrywise is a Nigerian fintech offering savings and investment products (mutual funds, treasury bills, goal-based savings) via mobile app. It directly competes with Tenboxx's investment and savings offerings targeting young, mobile-first Nigerian users.
• Renmoney: Renmoney is a Nigerian consumer and SME lender offering personal loans, salary advances, and small business financing. It is comparable to Tenboxx on the lending side, particularly for SME and personal loan products targeting salaried workers and small business owners.
• Branch International: Branch is a digital lending platform operating in Nigeria and other emerging markets, offering personal loans via mobile app with instant decisions. It directly competes with Tenboxx's personal loan product for underbanked Nigerian consumers.

Broad incumbents

• Kuda Bank: Kuda is a Nigerian digital-only bank offering savings, spending, and lending products via mobile app. It serves a similar mobile-first Nigerian customer base as Tenboxx but operates as a licensed bank with broader financial services including payments and transfers.
• OPay: OPay is a Nigerian fintech super-app offering payments, savings, loans, and ride-hailing via mobile app. While broader in scope than Tenboxx, it competes in the same Nigerian mobile-first financial services space and offers overlapping savings and loan products.
• Moniepoint: Moniepoint (formerly TeamApt) is a Nigerian business banking and payments platform serving SMEs with banking, payments, and working capital. It overlaps with Tenboxx's SME loan product and targets a similar small business customer segment in Nigeria.

Emerging players

• Palmpay: Palmpay is a Nigerian mobile payments and savings platform offering transfers, bill payments, and savings products. It is comparable to Tenboxx on the savings and mobile-first distribution side, though it currently has a narrower product suite focused on payments rather than lending.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/tenboxx-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

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 tenboxx