“We have received our MFB banking license which now enables us to open current accounts for our users, and we’re doing that on quite a big scale...we opened accounts for our repeated and new customers, which I think is quite a unique company strategy because we don’t need to burn millions of dollars of customer acquisition cost on users like other competitors. I think all of that has enabled us to become sort of the largest digital bank in Nigeria," said Laurin Hainy, co-founder and CEO.

https://techcrunch.com/2021/07/01/tiger-global-leads-42m-series-b-in-nigerian-credit-led-neobank-fairmoney/