Lagos (Nigeria) and Frankfurt (Germany) September 2019. GreenTec is happy to announce our investment into Nigeria’s Save N Flex. Save N Flex is an innovative employee benefits platform targeting Nigeria’s 25,000 corporates and their more than 5 million employees. The platform leverages an innovative approach to help corporates effectively scale their employee benefits programs while providing growth opportunities to retail start-ups and other service providers thereby bringing corporates, their employees, and retailers together to mutual benefit.
Save N Flex was founded as a response to the most recent Nigerian recession. Although officially over, the economic downturn has had disproportionately large effects on salaried Nigerians, who often financially support large extended families. The platform currently offers subscribers discounts on a range of key services including airtime, fuel, utilities, electronics, and financing. The company intends to develop the platform as the cornerstone of a sustainable ecosystem benefiting its key stakeholders. The company is actively developing additional features such as employee recognition programs as well as communication tools, which will be rolled out to platform users in 2020. The company has already demonstrated impressive revenues with good uptake with corporates and retailers. Save N Flex first-mover advantage positions the company well to capture the Nigerian market and scale into neighboring geographies.