Thrifto, a new Nigerian fintech, is modernizing age-old group savings like ajo (Yoruba), esusu (South-West), and adashe (North) with a bank-integrated web app, slashing risks of defaults, disputes, and lost funds.
Founded by Sulaimon Biodun Durojaiye, media entrepreneur, Thrifto lets users create or join groups, set contributions, cycles, and payouts.
It tracks records transparently, preserving cultural collaboration while adding tech accountability. "We're providing structure and transparency without replacing the spirit of ajo," Durojaiye said.
Early users—salary earners, entrepreneurs, small businesses—form groups for school fees, rent, or capital. The platform eliminates friction like poor bookkeeping and payout fights, driving organic growth nationwide.
Launching next week, a self-saving feature lets users automate fixed amounts (e.g., ₦5,000 daily or ₦50,000 weekly) toward goals, enforcing consistency solo.
A Trust Rating Score, based on participation history, rewards reliable users, aiding smarter group choices and fostering responsible behavior.
Tailored for Nigerian realities, Thrifto taps informal savings to expand inclusion. Observers see it strengthening networks and discipline in Nigeria's fintech landscape.
