Just a few years ago, Odunayo Eweniyi was a graduate fresh out of Covenant University. It didn’t take her time to launch her own tech company. Today, she is one of the cofounders of one of Nigeria’s fast-rising tech companies, PiggyVest, and has and has been recognised on the Forbes Africa ‘#30Under30’ and ‘World Women in Fintech Power’ lists, among others.
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How It All Began
Right from a young age, Odunayo has always been a lover of books. She was a high-performing student throughout her primary and secondary school days and went on to attend Covenant University.
Initially, Odunayo wanted to be a doctor.
“I wanted to be a doctor but I feel like there is a certain level of empathy you need to become a doctor and I don’t think I have that. So when it was time to fill JAMB form, I put Computer Engineering instead. My parents made sure I went to Covenant University – which I love, by the way – just in case they read this – to avoid any of that strike business and I’m super thankful to them for that,” she told TechCabal.
She graduated with a first-class degree in 2013 and was about obtaining a Master’s degree when she met Somto, her would-be cofounder. She had just been interviewed for a job which she had gotten but when she met Somto and found out they were running a discount card startup called Parolz, she decided to join them instead.
Starting out, Odunayo wasn’t a co-founder of Parolz. She managed operations, social media and many other affairs in the company. Though she saw this as an opportunity to learn on the job and grow. Indeed, she learned.
She rose to become Somto’s cofounder after helping him build CV Flash, a service that helped people write CVs properly. Subsequently, they launched PushCV to answer to the demands of customers who were seeking employment.
By the end of 2015, PushCV was a profitable venture. They had formed a team and received an investment cheque of $25000 and an office space in Yaba from seed capital fund, Leadpath Nigeria. As a result of this assistance, they achieved a lot with PushCV within a short space of time and started thinking of their next move.
By this time, Odunayo and her team were on the lookout for another business opportunity. They got inspiration on the last day of 2015 when a Twitter user shared pictures of her piggy bank, in which she had saved N1000 every day in the calendar year. Immediately, one of her co-founders, Josh Chibueze, started seeking a way to build a digitalised model of the piggy bank or savings box, as some call it.
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Oduanyo contributed immensely by asking questions that put the team on their toes until they came up with the most refined ideas for the soon-to-be-launched service. It didn’t take them long to launch PiggyVest (formerly known as PiggyBank).
Today, PiggyVest has succeeded in promoting a savings culture in many Nigerians. The service has grown mainly due to its reliance on word-of-mouth. People who have benefited from PiggyVest are compelled to tell friends and family about this. In turn, this results in more traction for the brand. This shows the connection customers have with the service when they use it.
“I think about it often and sometimes, I can’t believe how much people champion Piggybank. It’s so personal to them that’s why we want to do as much as we can for our users,” said Odunayo.
On The Future
Oduanayo plans to get into education perhaps influenced by both of her parents who are professors. “I plan to get into education at some point. It’s something I am very passionate about so that’s definitely going to happen,” she said.
Her contributions in the tech space are notable and nothing short of remarkable, making her one of the most influential young individuals in Nigeria. As a testament to this, she recently made Forbes Africa’s List Of 20 New Wealth Creators and also appeared on the 2019 list of 100 Most Influential Young Nigerians.
Featured Image Source: Techpoint Africa
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