Zoomba, Nigeria’s First “Pay Small Small” E-Commerce Platform, Winds Down Operations

After nearly two years of reshaping Nigeria’s e-commerce and consumer credit landscape, online marketplace Zoomba has announced it is winding down operations.

Launched in mid-2020 at the height of the Covid-19 pandemic, Zoomba pioneered the “pay small small” model, giving households access to essential goods and electronics at a time when disposable income was under severe pressure. The company’s flexible layaway and installment system quickly stood out in a market where traditional credit facilities were either unavailable or difficult to access.

Through integrations with major payment gateways and a licensed microfinance bank, Zoomba processed over ₦180 million in transactions and attracted thousands of users within its first two years. Customers could receive products upfront while repaying in structured monthly plans, a model that has since been replicated by other fintech-driven retail platforms.

Despite this early traction, sustaining operations proved difficult. Rising inflation, naira volatility, and the escalating cost of credit severely constrained growth. “The demand was clear, but sustaining momentum required access to far deeper pools of capital than we could secure,” a company spokesperson explained.

In a statement, one of Zoomba’s co-founders reflected: “Launching during the pandemic was never easy, but we proved that Nigerians are ready for flexible digital payments. Even though Zoomba is closing, the model lives on across the market. We are proud to have pioneered this space and grateful to every customer and partner who believed in us.”

Industry watchers agree that Zoomba’s exit does not erase its impact. “They validated consumer appetite for installment-based e-commerce at a time of crisis and accelerated innovation in the BNPL sector,” said a Lagos-based fintech analyst. “The ecosystem’s current momentum owes much to that early push.”

While Zoomba itself has shut down, its pioneering model remains visible in today’s market, a reminder of how innovation during crisis can spark lasting change.