FairMoney
Credit-led Nigerian neobank.
- Who holds it
- The company itself — it holds a full banking licence — Microfinance bank (NG).
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from FairMoney’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| AI | AI underwriting in production |
| HQ | Lagos, NG |
| Founded | 2017 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | Microfinance bank (NG) |
| Card | No card |
| Yield | High NGN fixed savers |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Africa |
| Founders | Laurin Hainy, Matthieu Gendreau, Nicolas Berthozat |
Verified links: official site ↗
Common questions about FairMoney
What is FairMoney?
FairMoney is a fiat neobank, headquartered in Lagos, NG and founded in 2017. Your money is held custodially, so FairMoney or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (Microfinance bank (NG)).
Does FairMoney have a card, and where can you use it?
It issues no card of its own. It is available in Africa.
Does FairMoney require KYC?
Yes. FairMoney requires identity verification (KYC) to open an account, as a licensed bank.
What does FairMoney cost?
From the verified fields: yield High NGN fixed savers. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with FairMoney before relying on them.
Early investors
Peers
Wise · TymeBank · OPay · PalmPay · Bank Zero · Discovery Bank
FairMoney appears in
Neobanks that hold their own banking license (132) · Neobanks available in Africa (92) · Neobanks with no card of their own (67) · Neobanks in Nigeria (15)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.