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Payfi
Techstars '23IKATE LEKKI, NG · Founded 2022 · 8 employees on LinkedIn · 1 known investors
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Nigerian buy-now-pay-later startup providing consumer credit and flexible payment options for millennials in Africa.
Also known as Payfi
Investors · 1
How we know: the Techstars portfolio · open dataset · Top 3000 Accelerator Startups (no YC) 2026-08 · Not right? Tell us
Company profile
researched Sep 2026Payfi is a Nigerian buy-now-pay-later (BNPL) fintech company focused on widening access to consumer credit for millennials. The company offers deferred and installment-based payment options for customers who cannot afford certain products and services outright because of financial constraints.
The company's stated vision is to serve consumers across multiple African countries by creating alternative payment options at the point of purchase. It is led by co-founder and CEO Philips Akinyele, who has presented the company's scaling approach at startup community events in Abuja, Nigeria.
Business model
Payfi operates a buy-now-pay-later model, extending credit to consumers so they can obtain products and services they cannot pay for upfront and repay over time.
▸Full profile — market position, go-to-market, geography
Market position
Payfi is an early-stage entrant in the African buy-now-pay-later and consumer credit market.
Payfi positions itself around democratizing access to credit for millennials in African markets, a segment it describes as underserved by existing consumer credit options.
Go-to-market
Millennial consumers in Nigeria and other African countries who lack the upfront funds or credit access to purchase certain products and services.
Geography
Payfi is based in Nigeria, with company activity noted in Abuja, and states an intention to serve consumers across different African countries.
Compiled by commissioned research from 4 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 1
launches, deals, and filingsCo-founder/CEO Philips Akinyele was described as having completed a $1 million fundraising round in February 2022, ahead of a March 2022 Startup Grind Abuja fireside chat.
$1M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 4
primary sources listed
- Payfi Canada - Build credit when you pay your rent.payfi.ca · web
4 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Payfi do?
- Nigerian buy-now-pay-later startup providing consumer credit and flexible payment options for millennials in Africa.
- Who are Payfi's investors?
- Payfi's investors include Techstars.
- Where is Payfi headquartered?
- Payfi is headquartered in IKATE LEKKI, NG.