PennyTree Inc. Launches First Of Its Kind Digital Lifestyle Product In Africa

Nigerian fintech start-up launches PennyTree – a first of its kind financial service product in Africa to make financial discipline seamless and fun. PennyTree’s application comes with a first-of-its-kind product in Africa called – Penn Rules.

Penn Rules allows users to integrate savings habits with their lifestyle, thereby, demonstrating that lifestyle and finance are not mutually exclusive.

With Penn Rules, users are able to save as they earn, save as they spend, save as they live, and save as they interact in the digital village without second-guessing.

Though now largely digitalised, savings as a product is predominantly monotonous with so many obligations involved in maintaining a savings culture.

However, for PennyTree, the next level is gamifying the already democratising traditional way of doing things – and that’s why PennyTree is embedding savings into lifestyle with this trailblazing innovation.

The gamified digital lifestyle platform brings ease to everything finance by building an ecosystem that integrates financial well-being with the lifestyle of its users.

The idea to build a gamified digital financial lifestyle product was born out of the zeal shared by two friends (Ayo Ogunlowo and Adeleke Awotayo Ayeni) to not just democratise but gamify the way people save by making it a part of their lifestyle.

“We are currently at a level where savings and wealth building are characterised by setting debit reminders and locking funds away in digital vaults,” PennyTree’s Co-founder and President, Ayo Ogunlowo, said in a statement released to the press.

“We are making this more fun and enjoyable by building an affinitive ecosystem; creating a clan of financially savvy customers who would automate wealth as they live their lives.”

While the application is now available on the iOS/Playstore for download, PennyTree launches in a controlled format.

This is to ensure that early adopters experience the gamified digital lifestyle platform in its early stage (Minimum Viable Product), giving feedback while continuously improving.

“This is in a bid to ensure we understand our customers, implement feedback, roll out new features and scale our architecture to accommodate a bigger customer base,” Ayo explained.

On the security of funds and cyberattacks, Ayo revealed that PennyTree is in partnership with reliable and trusted platforms such as Flutterwave, Verifyme and Africa’s Talking to leverage their technology.

“We have partnered with PCIDSS level 1 compliant payment processor for security of funds and all our business partners are regulated in their respective industries. We also have a strategic partnership which avails us a Microfinance Bank licence as a savings and collections company.”

PennyTree enters the Nigerian market with existing competitors such as PiggyVest, but with a first-of-its-kind product in Africa called Penn Rules.

The brand’s unique selling proposition of a unique user experience through gamification, wealth-building tactics through financial discipline with good interest rates for compliant users to grow their money, promises to place it in a fresh league of its own in no time.

Download PennyTree on iOS/Play Store or visit

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