Frequently asked questions
Straight answers about how the money moves, who approves what, and what we do with your data. Anything not here, email [email protected].
What is Financiar?
Financiar is business spend-management software for Nigeria. Your business funds one central wallet; staff raise spend requests with evidence attached; an approval chain you configure clears them; and the money then leaves by bank transfer. It covers the wallet, requests, approvals, payouts, bill purchases, invoices and reports.
Is Financiar a bank?
No. Financiar is not a bank and does not take deposits. Payments, virtual funding accounts, card deposits and transfers are carried out by licensed payment partners — currently Paystack — and bill purchases by VTpass. Money your business pays in is held for your business, used only for the payments and fees it approves, and earns no interest. The full position is in the terms of service.
How does spend approval work?
A staff member raises a request and attaches the evidence — an invoice, a quote, a receipt. No evidence, no request. It then routes through the approval chain you set for that category or amount. Nobody approves their own request, including the business owner; that rule is enforced by the system, not by policy.
When is a payout actually paid?
Only when the payment partner confirms the transfer — never the moment it is sent. Until then the payout shows as in progress and the money stays held against the wallet, so it cannot be spent twice. A failed bill purchase returns the amount to your wallet.
Can anyone edit a balance?
No. The ledger is double-entry and the balance you see is the sum of its entries, not a number stored somewhere that someone can change. A mistake is corrected by a new, visible reversal entry — records are never silently altered or deleted, and every approval, payout and correction is logged.
What verification does my business need?
A business is verified before it can move money: BVN for the people who control the account, with NIN and CAC checks available for the business itself. The bank also names the account holder before you pay a new account, so you confirm who you are paying before the transfer goes out.
What does Financiar cost?
Fees for funding, transfers, payslips and other features are shown in the app before you confirm anything, so you never pay a charge you have not seen. We give at least 30 days of notice in the app before a fee goes up. For current pricing for your business, email [email protected].
How do we get an account?
There is no public self-serve signup yet — a business account is opened for you, and your team then joins by invitation. Email [email protected] to get set up. Once your account exists, everyone signs in at app.thefinanciar.com.
Is there a mobile app?
Financiar runs in any browser at app.thefinanciar.com, and the Android app is on Google Play. The iPhone app is not published yet.
What data do you collect, and who sees it?
Only what is needed to run the service, keep it secure and meet the law. Innoedge Technologies Limited is the data controller, and the privacy policy sets out every category, who it is shared with, how long it is kept and the rights you have under the Nigeria Data Protection Act 2023. Face ID and fingerprint data never leave your device, and we do not collect your contacts or location or use advertising identifiers.
How do I delete my account?
You can request deletion at any time. The delete-account page explains how to ask, what is deleted, and what has to be retained — financial records a business is required by law to keep cannot be erased on request.
Ready to bring spend under control?
Set up your wallet, invite your team, and start requesting with evidence.
Get started