Fintech company Transactpay has announced a ₦20 million grant for Nigerian entrepreneurs, with the aim of supporting early-stage and existing small businesses across the country.

The announcement was made during Transactpay NEXT, the company’s first product unveiling event. Transactpay is a platform operated by Transactworld Digital.

The grant, known as the Transactpay Thrive Grant, will provide ₦1 million each to 20 businesses. According to the company, eligibility is open to ventures that are either still at the idea stage or already operational.

“This grant is not just about giving money, it’s about reinforcing our mission to power the dreams of everyday Nigerians, building something from the ground up,” said Ernest Obi, CEO and Co-founder of Transactworld Digital.

Applicants are expected to register through the platform’s website — http://www.transactpay.ai/thrive— and publicly share their business stories. Transactpay says this approach is designed to attract community nominations and engagement, with the intention of highlighting businesses that are addressing real needs and have the potential to create jobs.

The launch of the Thrive Grant coincides with the platform’s one-year anniversary of supporting Nigerian businesses and signals a broader effort by the company to promote grassroots entrepreneurship.

The company stated that the initiative aligns with its long-term vision of supporting trade and community-based business development beyond payment processing.