Every entrepreneur has a story of firsts- it can be where their entrepreneurial journey began, their first contract, first investor or the first product that launched them into the entrepreneurial ecosystem. Whichever it is, entrepreneurs have been known to contribute to the economic growth of any nation with their innovative products and solutions, and such is the case of Austine Abolusoro, CEO and founder of P2vest Technology.

With over 20 years of experience working with various industries and top executives, one of which is the Chairman of UBA Group, Mr Tony Elumelu, Mr Abolusoro kick-started his journey into entrepreneurship within the banking sector where he provided leadership for businesses and groups within the institution. To mention a few, he was a pioneer Head of IT in UBA Ghana which was the first African subsidiary of the bank, he also led the Group IT Security Teams and later the Digital Banking Team. With his drive and business acumen, he successfully led the adoption of chat banking in Nigeria through the development, creation and launching of UBA’s AI-powered Chat Banking – Leo.

Driven by Innovation and a need to promote entrepreneurship through financial service, Mr Abolusoro has leveraged the advantage and opportunities the industry presented and turned a small idea into fulfilment, which is now growing to be one of Nigeria’s foremost financial service platforms. In a recent interview, he noted, ‘’My main mission is to build a one-stop financial service platform that gives access to credit, Insurance, savings and all kinds.’’

Mr Abolusoro’s approach to bridging the financial inclusion gap in terms of lending and borrowing was what one would call a shift from the norm. With the creation of P2vest, a peer-to-peer lending platform, Mr Austin has utilised technology and provided lending solutions to over 250,000 users on the app.

P2vest has been pioneering this type of lending in Nigeria intending to build a sustainable ecosystem of lending and borrowing – where lending becomes rewarding and loans become more accessible and affordable. With technology like this, P2vest prides itself in quick and fast access to loans in five minutes which is highly dependent on the provision of accurate KYC details provided by intending users. Asides from products that enable loan procurement, there is also a provision for users to make purchases and pay later with the (BNPL) future domiciled on the app.

One interesting fact about the innovative entrepreneur is how he constantly navigates regulations in Nigeria to deploy innovative products. Mr Abolusoro has successfully evolved the platform with the launch of his latest product – InsuranceParasol. According to him, ‘’The core of P2vest is providing a super marketplace for all types of financial transactions. The fact remains that lending and insurance are both financial transactions, and we are simply fostering an easy connection to a wide range of financial services for people to get the best offer with P2vest.’’

Venturing into the Insurance Industry, Mr Abolusoro identifies the importance of Insurance and the need to educate people on the value of insurance to build trust. He believes insurance can be embedded into many products starting from lending.  As he continues to trailblaze the entrepreneurial ecosystem, he focuses on using technology to not only meet financial needs, but also solve the trust challenge in the insurance industry, and consequently, increase the adoption of insurance products. The P2Vest app is available on Android and iOS.