GetEquity Shifts Focus to Debt Notes and Becomes Profitable

Beulah Godfrey

April 26, 2025
4 min read

GetEquity, a Nigerian investment platform, has reached profitability after a major shift in its business model. In 2024, the company expanded into offering commercial papers and debt notes and also laid off 40% of its workforce. This move came as retail investors in Nigeria started looking for safer, low-risk investment options due to a slowdown in venture capital funding.

According to GetEquity’s CEO, Jude Dike, the company now pays its staff and keeps operations running without relying on outside funding. Although they are not aggressively expanding yet, achieving profitability marks a big milestone for the company.

GetEquity’s New Strategy Meets Growing Demand

GetEquity started in 2021 to help everyday people invest in startups during Africa’s funding boom. However, when startup funding slowed down, GetEquity quickly changed its focus. It began helping Nigerians invest in debt notes and commercial papers issued by large companies.

Since launching its debt investment offerings in 2024, GetEquity claims to have processed over ₦500 million (around $310,000) in investments, growing by 10% every month. Its partnership with asset managers like ARM allowed it to offer debt products from major companies like Dangote Group to everyday investors.

Dike shared that when GetEquity first introduced the Dangote investment opportunity, they hoped to raise ₦5 million. However, they received ₦27 million in just three days. This strong response confirmed that Nigerians were eager to invest in low-risk, local assets.

GetEquity’s collaboration with asset managers brought big changes to its operations. Before, the company handled many internal back-office activities like financial processing and investor education. Now, asset managers manage most of that work, freeing GetEquity to focus mainly on distribution.

Because of this shift, GetEquity made some roles redundant. Despite the tough decisions, the partnership helped streamline operations and made the business more sustainable.

GetEquity earns money through transaction fees from users and commissions from asset managers. The company is also working on launching a secondary market where users can buy and sell their investments easily. Additionally, it plans to introduce investment-backed loans, allowing users to borrow money using their previous investments as collateral.

Dike said they are partnering with financial institutions to roll out these products, which will create new income streams for GetEquity.

Meanwhile, GetEquity is working on getting Approval-in-Principle from Nigeria’s Securities and Exchange Commission (SEC) for digital asset issuance and trading. Once approved, this license will allow GetEquity to make approved securities, like commercial papers, tradable in digital formats.

Past Challenges and Lessons Learned

GetEquity’s journey hasn’t been without challenges. In 2023, Peppa, a Nigerian startup that offered escrow services, filed a police complaint against GetEquity’s founders. The dispute involved a $43,000 payment Peppa raised through GetEquity but didn’t receive on time.

Dike explained that Nigeria’s foreign exchange instability made it hard for them to process dollar transactions. Even though GetEquity processed $5 million in private equity deals, the risks tied to currency exchange pushed the company to focus on naira-based investments instead.

According to Dike, this shift helped GetEquity avoid the heavy risks associated with foreign currencies and find a stronger footing in the local market.

New Focus on Deepening Customer Engagement

Now that GetEquity is profitable, the company has changed its growth strategy. Instead of expanding into new countries like Kenya, the team is focusing on deepening engagement with existing users. Their new strategy includes increasing customer lifetime value, encouraging referrals, and relying on brand-driven growth instead of expensive marketing campaigns.

Dike explained that aggressive expansion often leads to high customer churn in African markets, so building a loyal user base made more sense.

GetEquity’s next big goals include reaching $1 million in annual recurring revenue and launching business accounts. These accounts will help fintechs and neobanks manage their treasury operations, similar to what companies like Cowrywise and Piggytech currently offer.

As the company moves forward, it plans to stay focused on profitable growth, strong partnerships, and serving both retail and institutional investors better than ever.