RenMoney (formerly RenCredit) started operations in 2012 under a unit Microfinance Banking License in Ikoyi, Lagos. In December 2013, RenCredit MFB Limited was re-banded to RenMoney MFB Limited – the name by which we are known today. It then upgraded to a state license to operate multiple locations in Lagos State. This led to the opening of five additional branches – Ikeja, Surulere, Lagos Island, Apapa and Ikota.
RenMoney operates under a microfinance bank (MFB) licence, the closest to a consumer finance banking licence available in the Nigeria. The company is committed to provision of simple money solutions and currently has a staff base of over 300 employees and a customer base of over 25,000 customers and counting.