A Nigerian fintech company, Transactworld Digital, has launched a new ₦20 million business grant to support young entrepreneurs and small businesses across the country. The initiative, called the Transactpay Thrive Grant, will provide ₦1 million each to 20 businesses, whether they are still at the idea stage or already running.
This announcement was made as part of the company’s one-year anniversary celebration of powering Nigerian businesses through its digital payment platform, Transactpay. The company said the grant is aimed at empowering small businesses, funding ideas solving real problems, creating jobs, and making a positive impact in local communities.
The Chief Executive Officer (CEO) and Co-founder of Transactworld Digital, Mr. Ernest Obi, said the goal of the Thrive Grant goes beyond just giving out money. According to him, the grant represents a strong commitment to lifting up everyday Nigerians who are trying to build something meaningful from the ground up.
“This grant is not just about giving money, it’s about reinforcing our mission to power the dreams of everyday Nigerians building something from the ground up,” Mr. Obi said. “We believe that when small businesses thrive, communities grow, jobs are created, and the economy becomes stronger.”
The grant programme is open to a wide range of entrepreneurs — from tech innovators to fashion designers, food vendors, logistics providers, artisans, and service-based startups. Applicants will be selected not just based on how polished their businesses are, but based on the impact of their ideas, their passion, and their potential to solve problems and create value in their communities.
To apply, interested entrepreneurs are expected to register on the Transactpay website, where they will share their business story and ideas. The platform will also allow the public to nominate and support their favourite applicants, adding a community-driven selection element to the process.
According to the company, the Thrive Grant is one way Transactpay is showing its commitment to financial inclusion and economic growth. By helping small businesses grow, the company aims to make trade and entrepreneurship more accessible in Nigeria, beyond just processing financial transactions.
Mr. Obi further noted that fintech companies have a big role to play in boosting economic activity in Nigeria. He said that rather than focus only on profit and high-end tech services, Transactpay wants to focus on grassroots entrepreneurship, where the real challenges and opportunities lie.
“Too many people are building things with zero support. We want to be part of their journey, not just by providing payment solutions, but by helping them move from idea to impact,” he said.
Since its launch one year ago, Transactpay has grown rapidly, serving thousands of small businesses with tools for seamless payment processing, business insights, and merchant support. The fintech company has positioned itself as a solution provider for traders, startups, and digital entrepreneurs who need easy and secure ways to collect and manage payments.
With this new grant, Transactworld Digital is hoping to do more than just provide digital tools. It wants to become a partner for growth — helping Nigerian businesses survive, thrive, and create long-term value.
Aspiring beneficiaries have been encouraged to apply early, as competition is expected to be stiff given the rising number of young people turning to entrepreneurship in response to unemployment and the rising cost of living in the country.
The company has also invited Nigerians to follow the campaign on social media and support deserving entrepreneurs by engaging with their stories. According to Transactpay, this public support will count toward final selection, alongside the quality of business ideas and their potential for growth.
The Thrive Grant marks another major move by Nigerian fintech firms supporting homegrown innovation through direct funding, as part of a broader strategy to empower youth, promote job creation, and boost micro and small enterprises.
