Thread

The key differences between @PiggyBankNG and @pettysave I’ve seen is ALSO the nature of investment.

At the time I’m writing this tweet, Pettysave currently has 2 investments that are available. Both of which are in real estate with maturity dates in 12 and 18 months https://twitter.com/Starstrings1/status/1229796304601124866

offering 21% and 40% returns respectively upon maturity. PiggyVest on the other hand has 3 investments under “investify” that are open, all of which are under Agriculture and maturing in 4,7 and 9 months offering 8%, 14% and 18% respectively so if you’re looking for relatively

short term investment with decent returns, you might want to consider those projects. Whereas if you’re looking for something that’s relatively long term, the real estate projects under Pettysave might be worth looking at. It’s important to note that real estate is an asset class

that PiggyVest is yet to offer investment for. I believe it’s something they’re working on because it is listed on the app as an asset class although there aren’t any investment options there

Pettysave had 1 Agricultural project that offered higher returns than the ones on Piggy

which has sold out. So in terms of returns, if you compare the agricultural projects, you could say that Pettysave has higher returns because the one agricultural project they had that was offering 25% returns for 6 months offered better returns in a shorter time than the best

offer from PiggyVest which WAS 24% returns for a 12 months period. If you compare the real estate investment currently available to all other investments on PiggyVest, the returns are pretty similar.

Pettysave also has the Savings function which PiggyVest has that allows you to

auto save, save towards a target and lock away some savings. The auto save and save towards a target feature offer the same 10% per annum that PiggyVest offers although, the safe vault for PiggyVest offers UP TO 15.5% p.a. “Up to” in capital letters because if you shop during

Black Friday and other discount seasons, you’ll know “up to” could mean and usually means less than the amount promised. But I don’t know specifically what you have to lock away to get the maximum 15.5%.

Pettysave on the other hand gives a fixed 12% rate for Safelock of funds.

PiggyVest also has Flex Dollar and other things you can find on the link at the end of this thread I already did between PiggyVest and Cowrywise.

I can’t authoritatively speak to the risks investors incur from investing on either platform but from what I can say, they both look https://twitter.com/JE_dna/status/1212562309689860097

safe and they both have some form of insurance. Although, PiggyVest already has a reputation in the Nigerian Fintech space, I believe that Pettysave offers something PiggyVest and some other notable Fintechs haven’t brought to the table yet which is investments in real estate.

It gives an opportunity to diversify your investment portfolio into a new industry and possibly get some good returns from doing so.

Finally, I think both platforms could benefit from including a risk assessment on each investment like the one @cowrywise has to inform investors.

If this thread inspired you to check out Pettysave, do well to use my referral link and get N250 added to your account when you sign up https://app.pettysave.com/s/OGH722817 

Or my code: OGH722817

Side note: I also want to say that with Nigerian Fintechs (and maybe Fintechs in general)

I don’t view them as competitors. Here’s why: A good number of their investments are finite, by this I mean they sell out. The Agricultural projects (that typically yield the best returns) usually have targets that they want to achieve. They cannot sell beyond that target. It’s

not like Apple and Samsung that they can just produce more phones to meet extra demand, they can only look for new projects and it may not be as easy to find new safe options for their investors. Also, as investors, I believe we get the best security from diversifying. Your best

bet would be to have some money with more than 1 Fintech. It’s not like Peak milk and Cowbell milk where may not want to eat both of them at the same time. Here, diversifying your portfolio can give you greater safety and possibly higher returns.

While I don’t view them as

competitors, for new Fintechs to gain investors, they have to offer 1 of 2 things: higher security or higher returns. Higher security is a dicey thing to run with. First, security is not just about getting insurance or finding safe businesses to invest.

It also includes

PERCEPTION and CONFIDENCE of investors and this is gotten from familiarity. It’s like a new Bank coming up today to compete
with Zenith or GT Bank; even if they have similar or better insurance than existing banks, they may not get many customers if their entire selling point is

built around “safety”.

Hence, a better selling point to build on would be “HIGHER RETURNS” or at least finding secure projects that can give better returns to their prospective investors.

That being said, while it might seem like a competition, it may in fact be a strategy to break into the market, get the attention of existing investors and encourage them to try them out.

C’est fini!

Oh & you can sign up to Piggyvest with this link and get ₦1,000 to start your own savings journey https://piggyvest.com/l/2ad02ec 

If you used a referral link to sign up to Piggyvest and you’ve been wondering how you’d get your N1,000... this thread explains how https://twitter.com/je_dna/status/1252592282009849856?s=21