Welcome to Cowrywise vs. Piggyvest 2. As we all know, this topic is a trending one many are often confused about. Well, we have done all the research work and all you have to do is read and get the information you need.

In the previous post, we highlighted the features of the Cowrywise app and the various saving plans available on the platform. If you missed it, see here.

Today’s post post is centered on the Piggyvest savings platforms; its features and the saving plans available on it. You need to keep reading so as to get valid reasons to aid your choice on the best platform to use.

What Really Is Piggyvest?

PiggyVest was first launched as “Piggybank” on the 7th, January, 2016 as the very foremost online “Savings & Investment” app in all of West Africa. At the time of the launching, it was meant to be a savings-only platform.

For three years, it fulfilled this mission by offering only savings features to its users. Then in April 2019, it was restructured and renamed as “PiggyVest”. The restructuring involved the commencement of direct investment opportunities to augment the savings option.

Years down the line, it has improved in its delivery of excellent service to all of its customers; helping them oversee their money matters with simplicity and outward transparency.

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This platform has helped a lot of Nigerians invest millions of naira they would have otherwise spent.

The available savings options on Piggyvest are:

  • Piggybank
  • Flex Naira
  • Flex Dollar
  • Safelock
  • Targets

1. Piggybank

The Piggybank feature gives you the platform to save daily, weekly or even monthly. With the Piggybank feature, you are able to turn on electronic savings, which allows you to top up whenever you want. When your money is put in this feature, Piggyvest helps you pick an electronic withdrawal date, nevertheless, you can break this plan whenever you want; unlike in Cowrywise, although a minute percentage of what you withdraw will be deducted. 

2. Flex Naira

The Flex Naira savings on the other hand is more variable, just as the name suggests. You are allowed to store funds there without a withdrawal date set and when you withdraw, you are not debited, since no withdrawal date was set.

Flex Dollar

This savings plan simply allows you to keep your funds in Dollars.


The Safelock savings feature is unbreakable. Once your withdrawal date is set by you, you would be unable to make withdrawals until the withdrawal due date.


Targets is the Piggyvest feature that allows you to save towards diverse targeted goals.

The Piggyvest is a great app, though if your aim is to stay disciplined with respect to your financial goals, by saving and further investing, then the Cowrywise app is your best alternative.

That’s it for the savings features on both platforms. Time to put the spotlight on investments…

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Investment options available on Cowrywise 

Statistics have shown that Cowrywise has the largest collection of Mutual funds in Nigeria. All mutual funds on the platform are fully registered and further monitored by the Securities and Exchange Commission (SEC).

Also, Cowrywise is the first fintech company in Nigeria with an SEC license. To give it a title, it can be refferred to as“the CBN” for investments.

Investing in Mutual funds is beneficial because they are steady and grow continually and this is one feature investors usually look out for.

In comparison to Piggyvest where the least amount that can be invested is 5,000, on Cowrywise, you can start investing with much less. Furthermore, investments on Cowrywise give room for everyone to get value, as there is always an option to invest in each time you log into the app.

Additionally, Dollar Mutual Funds are available, which gives room for you to expand your horizon beyond Nigeria.

Investment options available on Piggyvest 

There are four categories of investments available on Piggyvest, namely: Fixed Income, Real Estate, Agriculture and Transportation.Most of the investments on Piggyvest are agricultural-based and might not be suitable for many as it involves high- risk assets.

Piggyvest investments are only accessible to those who “hurriedly” buy in before it becomes filled up and this is a major difference between the investment options available on Cowrywise that can be purchased at anytime.

To see more about Piggyvest, see here.

Wealth Building, Cowrywise vs Piggyvest?

Cowrywise is by far the better option when it comes to wealth building, as it is an app that sees to both your savings and investments necessities.

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If you struggle to keep up with your financial goals and going forward, you desire an app that can keep you in check and simultaneously act as an accountability partner, then Cowrywise is your go-to app.

Cowrywise vs Piggyvest Developers aren’t left out

Going forward, Cowrywise will be making APIs public to help financial managers all over the world get access to various services and further increase investment options to serve its users better.

They further get access to:

  • Cowrywise Network of partners: In Nigeria, these include United Capital, ARM, Afrinvest and others to subsequently join the team.
  • Money Health: The Cowrywise app enables you to see your savings score and your financial rating. Also, you earn a badge after you cross each milestone.
  • Halal InvestmentsThis refers to investments in line with Islamic principles. This is to assert the fact that there is something for everyone regardless of your faith.
  • Financial education for Nigerian students: The Cowrywise Campus Ambassadors represents a strong community of University students trained and guided towards financial freedom.
  • Investors: Cowrywise receives the backing of everal best companies in the world. Companies like YCombinator (YC), Microtraction, Catalyst Fund, Quona Capital, K50 Ventures,etc, all have investments in Cowrywise.

I hope this series has been enlightening as well as fun for you as it was for me. See you in the next post. Cheers!

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