PennyTree Inc. unveils digital lifestyle app, first of its kind in Africa

PennyTree Inc. unveils digital lifestyle app, first of its kind in Africa

PennyTree, an app that allows users to integrate savings habits with their lifestyle, and that helps to reinforce the fact that lifestyle and finance are not mutually exclusive has been launched in Nigeria.

The unique app, using Penn Rules as its unique selling point, enable users to be able to save as they earn, save as they spend, save as they live and save as they interact in the digital village without second guessing.

Nigerian fintech Startup launches PennyTree – a gamified digital lifestyle platform using AI features with a mission to take the savings culture a notch further with PENN RULES.

According to PennyTree’s Co-Founder/President, Ayo Ogunlowo, “As the world becomes more complex with different societal standards and peer pressure, it is important to build financial governance in a way that people do not get worried about missing out financial milestones through lifestyle friendly features such as “Hey PennyTree, get me an Uber to the office” – yes, you get the Uber and PennyTree automatically saves as you ride to the office. This is because you already told PennyTree to do so. That’s one of the many cool parts.”

PennyTree Logo

The gamified digital lifestyle platform brings ease to everything finance by building an ecosystem that integrates financial well being with the lifestyle of its users. The idea to build a gamified digital financial lifestyle product was born out of the zeal to democratize the way people save by making it a part of their lifestyle.

PennyTree enters the Nigerian market with existing competitors such as PiggyVest, but with a first of its kind product in Africa called Penn Rules and other features such as bills payment, wallet transfer, target savings and personal vault . The brand’s unique selling proposition of a unique user experience through gamification, wealth building tactics through financial discipline with good interest rates for compliant users to grow their money, promises to place it in a fresh league of its own in no time.

Penn Rules allows users to integrate savings habits with their lifestyle, thereby, demonstrating that lifestyle and finance are not mutually exclusive. With Penn Rules, users are able to save as they earn, save as they spend, save as they live and save as they interact in the digital village without second guessing.

“We are currently at a level where savings and wealth building are characterised by setting debit reminders and locking funds away in digital vaults. We are making this more fun and enjoyable by building an affinitive ecosystem; creating a clan of financially savvy customers who would automate wealth as they live their lives”, Ayo said.

On safety of funds and cyberattacks, Ayo revealed that PennyTree is in partnership with reliable and trusted platforms such as Flutterwave, Verifyme and Africa’s Talking to leverage their technology. “We have partnered with PCIDSS level 1 compliant payment processor for security of funds and all our business partners are regulated in their respective industries. We also have a strategic partnership which avails us an Microfinance licence as a savings and collections company”.

While the application is now available on the iOS/Playstore for download, PennyTree launches in a controlled format. This is to ensure that early adopters experience the gamified digital lifestyle platform in its early stage (Minimum Viable Product), giving feedback while continuously improving. “This is in a bid to ensure we understand our customers, implement feedback, roll out new features and scale our architecture to accommodate a bigger customer base,” Ayo said.

Download PennyTree for iOS from Apple Store or for Android from Google Play Store.

You can also visit the PennyTree website for more information.

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About the Author: Femi Adeoya

Mr Femi Adeoya is a Chartered Forensic Accountant and a Certified Fraud Examiner. He has over 20 years professional work experience in accounting, finance and business management processes. As an Accounting Software Expert, he has implemented and supervised accounting solution set up of over 50 small and medium businesses in Nigeria. As a passionate blogger, Mr Adeoya is an ardent writer and communicationist. He is the CEO of QUICK LOAN ARENA (, the number 1 loan apps review website in Nigeria. He is very passionate about the quick and instant loan industry in Nigeria and has written over 200 reviews on different loan apps and digital banks in Nigeria, USA, Canada and UK.

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