Fundbae Review: Legit Fintech Money-making App or a Scam?

Are you looking to put your money to work on Fundbae but wondering if it’s legit or a scam?

Fundbae seems to be the new Fintech fave in town, but is it really worth putting the money on?

Should you fall in love with Fundbae right now? Lol, just kidding.

Ok, in this article, we’ll be looking at the proposition of Fundbae and what the Fintech company offers in exchange for your money.

You have the prerogative to invest or not to invest with Fundbae after reading this article.

What Is Fundbae All About?

Fundbae is a Fintech platform that offers Savings, Investment, and loans.

The platform provides opportunities to save and invest your money on different scales, while your portfolios can be used as a collateral to get flexible loans.

Fundbae also has features for bill payment, as well as group savings just like a cooperative.

In my opinion, Fundbae is like an app that merges the features of core savings platforms such as Piggyvest, with that of a Fintech like Branch.

Even though I personally enjoy using Branch, I’ve always wanted a Fintech app that lets me save and Invest according to my different needs, and features to manage my finances.

Well, it seems Fundbae is doing just that.

How Does Fundbae Make Money?

Platforms like Fundbae usually vault their users’ funds with a holding bank that is NDIC insured.

Their holding bank seems to be Kwacofocus Microfinance bank, as that seems to be the only bank that Fundbae has a partnership with.

Their holding bank would usually pay them a higher interest than normal to keep the bulk of their money with them.

Fundbae also claims to have a diversified investment portfolio that enables them to achieve higher and sustainable returns for their customers.

How to Save & Invest on Fundbae

Fundbae features several savings and investment plans to help you grow your money, the plan that you choose would depend on how liquid you want your investment to be and what ROI you are targeting.

Here are Fundbae Savings & Investment plans:


The Save2B plan on Fundbae allows you to save and get a ROI of 8% per annum. This plan also allows savers to access loans of up to 200% of their savings balance after saving consistently for 3 to 6 months.


With the Flexbae savings plan on Fundbae, you could earn as much as 12% interest per annum. This savings plan comes with no obligation whatsoever, and you can withdraw your savings at any time without losing your accrued interest.

Vault Lite

The Vault Lite Savings plan on Fundbae helps you with target savings on the things that are important to you. It’s a flexible savings plan, so you could save towards any goal or event you like, while earning 10% interest per annum.

Vault Plus

The Vault Plus plan on Fundbae helps you save any money you wouldn’t be needing urgently. And guess what? Fundbae rewards you for being smart, with a 15% APY interest paid upfront. You also enjoy the choice to set the maturity date at your own convenient time.

Apart from these savings plans, you can do more with Fundbae by saving with friends via the Trybe Savings plan, and organize cooperative savings (Ajo/Esusu) via the ThriftBae plan.

What’s more?

You could go Yankee on your funds and start saving with a Dollar Wallet for short-term USD savings or Dollar Vault for long-term USD savings on Fundbae.

How Much ROI Does Fundbae Offer?

Ideally, with Fundbae Savings and Investment, you could receive a ROI of between 8% to 15% per annum.

Not jaw-dropping, but definitely better than what you’d get from a typical bank savings.

Is Fundbae Legit or Scam?

Fundbae is still relatively a new Fintech platform in Nigeria, in terms of traction and reputation.

The company is still less than 2 years old in Nigeria, so they have a relatively low trust score.

However, the company’s move as a merchant with Flutterwave, and a partner with a microfinance bank shows that they have a positive and futuristic motive.

The company also claims that it is a registered cooperative with the name; Coralstone Multipurpose Cooperative Society Limited, and Registration number, 16916.

Can You Lose Money With Fundbae?

You never can tell.

We can only keep our fingers crossed, because companies of this status could fold up at any time.

There’s no insurance in any way that indicates that your funds on the Fundbae platform is safe and secure.

There’s also no major milestones from the company in the public domain, such as a venture capital funding or a Government license issuance, or a Government body backing, etc.

However, the company looks reputable and may be worth giving a try. If you decide to save and invest with Fundbae, only do so with money you can afford to lose.

Should You Invest in Fundbae?

Like I said, the company looks reputable, but there is no guarantee that your funds are safe or that the interest accrued would be paid.

Fundbae is still relatively new and has a low trust score. Hence, you should be cautious in all your dealings with them.

If they survive this early stage, and grow as a company with achieved milestones, then they can start enjoying the trust of users and investors.




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