Rank Capital has been recognized as the seventh fastest-growing fintech company in Africa, sixth in Nigeria, and 12th overall on the Financial Times' annual ranking of Africa's fastest-growing companies. The ranking, compiled by the Financial Times in partnership with Statista, highlights 100 African companies with the highest compound annual growth rate in revenues.
The company stated that this recognition reflects its rapid growth in Nigeria's financial services sector and the strong performance of its community-based investment model, despite challenging global economic conditions. Rank Capital is a subsidiary of Rank, a financial services and proprietary investment holding firm.
According to the company, it has paid out more than $100 million to users across different communities within the last 12 months. Femi Iromini, Chief Executive Officer and Co-Founder of Rank, described the recognition as a validation of the company's direction.
"Rank Capital's ranking is a powerful validation of our mission to make prosperity common. By blending modern technology with the age-old power of social trust, we are proving that community-powered wealth-building is not just viable, it is the future," he said. He added: "This milestone belongs to our users and partners who believe that we can rise faster when we rise together."
The recognition comes after the company rebranded from Moni to Rank and completed the acquisitions of AjoMoney and Zazzau Microfinance Bank, now known as Rank MFB. According to the company, these acquisitions were aimed at expanding its financial ecosystem to cover banking, wealth management, savings, and investment services.
Rank stated that Rank Microfinance Bank focuses on inclusive banking services, while Rank Capital provides wealth management solutions. It added that the Rank App enables users to save, invest, and spend collectively within communities. The firm said it is focused on expanding financial opportunities for young Africans, starting from Nigeria, through technology-driven platforms built around community participation.
