BRIEF: Digital savings app, Piggybank rebrands to PiggyVest

Piggyvest

Digital savings and investment app, Piggybank said it has rebranded to PiggyVest.

The company said it changed the name to reflect its new direction to offer more products including insurance services.

It would be recalled that PiggyVest raised $1.1 million last year to acquire new license and growth into new segments of the financial services sector.

PiggyVest said in its disclosure that it has over 195,000 customers with about N1 billion savings every month. The micro-savings category has seen more interest in the last three years. PiggyVest has several old and new competitors who are targeting young and informal customers using technology.