Nedbank’s super app Avo, which was launched as a solution to lockdown woes in June 2020, has attracted one million users.
The big-four bank says it has seen exponential growth and has doubled its customer base in the last four months, with a staggering 50% of that being achieved in the last four weeks.
Avo allows customers to shop groceries, tech, vehicles, professional home services, prepaid electricity, airtime and data, as well as liquor and takeaways, on a single platform.
“Avo growth has accelerated sharply since its launch in June 2020 mid-pandemic and continues to serve our ever-expanding customer base – demonstrating to all South Africans why this app is a real e-commerce contender and a champion of the platform revolution,” says Ciko Thomas, managing executive for retail and business banking at Nedbank Group.
“Being first to mind has always been the ambition of Avo, and with the coalescence of so many exciting offerings coming together, Avo is clearly a contender in the spotlight of the South African digital growth narrative.”
According to the bank, the app has celebrated several key milestones in the last few months, including the launch of the Avo Auto marketplace that has seen many South Africans find and purchase their new wheels with finance from MFC.
It notes that Avo Business has onboarded over 20 000 merchants onto the platform.
“We have continued our focus on listening to our customers and stakeholders, to ensure we enable and then offer the best customer experiences. Avo is a key component of Nedbank’s wider ecosystem participation and we remain focused on scaling the platform” says Fred Swanepoel, CIO of Nedbank Group.
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