Why Brand Evolution Could Be Catalyst For Growth

Everything evolves—people, markets, businesses. Comfort is temporary, and real growth demands a measure of change. For some companies, that change takes the form of a complete overhaul or a bold strategic pivot. For others, it’s about refining existing systems to better match today’s demands and tomorrow’s ambitions.

The real challenge is knowing when it’s time. The signal might be shifting customer needs, new market trends, or rising competition. Whatever form it takes, for founders in fast-moving industries, the decision always carries both opportunity and risk—the potential for growth and expansion, but also the risk of misalignment.

That’s why, once you’ve decided change is necessary, the next step is critical: determine exactly what kind of change the business needs right now. A year ago, when my co-founder and I faced this question, the answer was that we needed a rebrand.

What I’ve learned is that, when done at the right moment, a rebrand can open new markets, improve your positioning, and reinforce your mission. A poorly timed or misaligned rebrand can confuse users, signal instability, and risk creating the impression that your values have shifted. The key is ensuring the new identity reinforces, rather than obscures, the principles your brand stands for. Jon Michail, a personal and business branding expert, emphasises that “staying loyal to an outdated identity is one of the most expensive hidden costs leaders pay.”

The Rebrand Of Zap – v2

A few weeks ago, we unveiled Zap v2—our first rebrand just over two years after launching the company. On the surface, that might seem premature. In reality, the signs were unmistakable: it was time. And I believe our experience offers lessons other founders can apply when deciding if and when to make the leap.

The first thing we recognised was that we had outgrown our identity. Our user base and transaction volumes were climbing fast, and so was our ambition. Just three months after launching the mobile app in 2024, transactions surpassed ₦2 billion. That same year, we saw our biggest growth spike yet, with 10,000 new users in six hours. Our core mission hadn’t changed, but we were clearly operating on a bigger stage.

Brand identity shapes how the world sees your business, and that perception can either accelerate or limit your goals. The way our brand looked, sounded, and positioned itself no longer matched the scale of where we were heading—and when your identity doesn’t match where you’re going, it creates a credibility gap, and that can slow you down. To close that gap, we expanded our product offerings and overhauled our visual identity to reflect the company we had become and the one we were building toward.

We realised we had also outgrown the market’s perception of us. As Nigeria’s first non-custodial exchange, (a non-custodial exchange lets you trade without ever giving up control of your crypto, unlike custodial platforms where you must trust the exchange to hold your funds safely) – Zap Africa proved to users they could retain full control of their crypto assets—a milestone achievement, but only the starting point. Our ambitions were bigger. The rebrand introduced new features that make trading safer, faster, and more convenient, showing that full control doesn’t have to mean complexity. Across industries, the same principle applies: when your brand’s capabilities, influence, and offerings outpace how the market sees you, it’s definitely time to make that growth visible.

Lastly, we knew we had to evolve alongside the market and our audience. While there’s still a long way to go, crypto adoption in Africa is gaining momentum, and the numbers speak for themselves. Between July 2023 and June 2024, Sub-Saharan Africa received an estimated $125 billion in on-chain cryptocurrency value—up $7.5 billion from the previous year, according to African Leadership Magazine. Nigeria alone accounted for roughly $59 billion, ranking second globally in crypto adoption.

The New Wave Of Crypto

This surge signals a steady shift away from traditional banking systems, and we must be ready to serve the growing wave of users making that transition. The rebrand was a strategic step in that direction, positioning us to seize the ambitious opportunities emerging in Africa’s rapidly expanding crypto market.

Rebranding may not be common, but it’s a natural part of a company’s lifecycle. Founders must watch for the signs that it’s time to evolve—otherwise, the business risks stagnation and missed growth opportunities. To reduce the risks of a poorly timed rebrand, it’s always worth testing the waters before committing fully. For us, that meant launching a beta version earlier in the year. The positive feedback from our users validated our direction and gave us the confidence to proceed with a full rollout.

No brand starts fully formed; it evolves. As founders, our responsibility is to keep building and refining until the company reaches its full potential. A rebrand should never be rushed—it demands an intentional strategy and a vision that reflects your current reality and is ambitious enough to carry you into the future.

Tobiloba Asu-Johnson is the co-founder and CEO of Zap Africa, Nigeria’s first non-custodial crypto exchange. He is a passionate entrepreneur and advocate for the adoption of decentralised finance in Africa.