Company profile
Allawee Inc.
Allawee Inc. was a private Nigerian fintech company founded by Ikenna Enenwali and Oreofe Olurin and operated from Lagos, Nigeria, and San Francisco, United States. The business originated in January 2021 as a consumer credit-building mobile application offering loans through a credit-wallet system. Allawee underwent two major product pivots during its operating life. After encountering difficulties accessing consistent credit-risk information, it launched a credit-data API in December 2021 that enabled businesses to retrieve merged credit information from Nigeria's three major credit bureaus through a single API call. It subsequently shifted towards card-issuing infrastructure, providing fintechs and financial institutions with an API-first, modular platform for issuing and managing physical and virtual cards, alongside core banking, card-authorisation services and direct integrations with payment switches and card schemes including Mastercard and Verve. By May 2025, Allawee was supporting card issuance for fintechs including PiggyVest, Nomba and Carbon. The company also offered business accounts through Providus Bank and launched a Mastercard credit-building card in 2024 targeting federal civil servants and members of the National Youth Service Corps, with Providus Bank and Remita also involved in the product. In 2025, Allawee was acquired by Paystack and informed customers in August 2026 that it would discontinue its business and personal account services from 1 December 2026.
- Sector
- Financial services / Payments Infrastructure, FinTech Platforms (Other), B2B Payments, Credit Infrastructure
- Markets
- Nigeria
- Founded
- 2021
- Ownership
- Private
- Stage
- Startup
- Employees
- 11-50
- Business model
- B2B Transactional, Financial Services
Products and services
Card-Issuing Infrastructure, Card Programme Management, Accounts & Ledger Infrastructure, Business Banking, Credit Data Decisioning, Spend Controls, Merchant Categorisation, Dispute Management, Card Tokenisation, Mastercard Credit Card.
Transactions
| Date | Transaction | Type | Value | Market |
|---|---|---|---|---|
| 31 Aug 2026 | Paystack acquires Allawee | Venture Capital | Undisclosed | Nigeria |
Source: Partner Researchers.