In a motive to expand its operations in Europe and Asia, the Nigerian Fintech company OjirehPrime is changing its name to Pryme.
The financial entity states that this move is in line with its objectives to secure a European banking license that would allow it to offer its services to Africans in European countries and willing Europeans.
Pryme is a Fintech company created in 2018, by Edoko Idoko, to provide digital banking and financial services including loan offers.
According to the founder of Pryme, the financial entity now has over 1 million mobile app downloads, and approximately 200,000 active monthly users, accumulating over $1.5 million in annual revenue processing over ₦31 billion in monthly transactions.
According to Pryme’s 2023 financial data, the company had a total of 980,987 transactions, processing ₦330 billion in the fiscal year.
What is the reason for the change from OjirePrime to Pryme?
“From the onset, we already knew that the name OjirehPrime was wordy to pronounce, but it was decided that whenever we want to make a change to the name, it must be at the time of the next phase as part of our rebranding”, says the CEO and Founder Edoko Idoko
Further into the rebranding phase, the financial entity is looking forward to including insurance and updating its loaning offerings.
In light of Pryme’s aim to expand its operations around the world, the financial entity announced its goal to raise $21 million in series B funding.
As if Pryme’s ambition for the European market is not enough, the company is also setting its eyes on the Asian market, pinpointing Uzbekistan as the target.
According to the CEO, the country has a unique market that intersects with other nearby economies and a government that supports the growth of the financial sector.