PennyTree, a Financial Technology Services Company and member of Treegar Global has partnered with VFD Group to increase access to a variety of investment and value chain opportunities for individuals and businesses in Nigeria.
This partnership according to the company is the first in a series of planned collaborations with VFD Group to facilitate growth in the financial services and financial technology sector as a way of providing opportunities for cross-pollinating business transactions to achieve overall success.
Speaking on the partnership, Abayomi Ogunjobi, director and Co-Founder at PennyTree described VFD Group as one of the leading businesses operating across a number of sectors ranging from financial services, asset management, real estate, and financial technology (fintech).
According to him, a collaboration like this presents a unique opportunity to explore valuable solutions for the retail market, value chain growth opportunities for businesses, and establish an interaction of business transactions to achieve overall business success.
Abayomi said “PennyTree represents the future of the retail banking and financial services in Nigeria and this collaboration opens up opportunities to continue to empower merchants with a dependable platform and a seamless system for their financial transactions.”
Adeniyi Adenubi, executive director, Governance, Government & Subsidiary Relations at VFD Group, described the partnership as an opportunity for VFD to pave the way for the future of banking and financial technology in Nigeria.
“We are always excited to contribute to the growth of the industry, and partnering with a fast-growing financial services company like PennyTree gives us the opportunity to continue to do this. Our partnership provides an opportunity for both sides to contribute to the growing SME sector while also empowering the financial growth of individuals in general.”
PennyTree is a portfolio company of Treegar Global that offers regular banking services such as sending and receiving money, utility bills payment and savings for individuals and business banking services like receiving payment, generating and sending invoices and receipts to customers, and keeping track of inflow and outflow for merchants.
Speaking on future collaborations, Ayo Ogunlowo, Director, Treegar Global and Co-founder at PennyTree, said that with VFD Group’s experience over the years and Treegar’s rapid growth and expansion plans, this collaboration is set to transform the financial services and asset management landscape in the country.
“Treegar Global is a proprietary investment company with a portfolio of companies ranging from financial services, asset management, lending services, retail banking and waste recycling. PennyTree is one of our portfolio companies currently simplifying access to banking services for business owners, and individuals, and this partnership with VFD Group means that we can continue to do this at a larger scale, and we are working closely to explore other opportunities,” Ayo said.
Treegar Global’s portfolio companies include PennyTree, Treegar Capital, Launchcapp, Quatrust and Atunlo.