Nigerian Fintech Company Secures $600,000 for East Africa Expansion
CreditChek, a Nigerian credit data company, has raised $600,000 to enter the East African market. Janngo Capital led the round, with participation from previous investor Assembly Investors and new investors Vastly Valuable Ventures and Unipeg Capital. The Nigerian company plans to expand in Kenya, Uganda, and Rwanda.
“We’re building the data infrastructure that allows lenders to access richer, more reliable insights,” Kingsley Ibe, co-founder and chief executive of CreditChek, told TechCabal. ‘This funding allows us to scale our infrastructure and partnerships in East Africa, bringing us closer to a future where credit decisions are faster, more inclusive, and more reliable.”
About CreditChek
CreditChek was launched in 2022 by Ibe and Lionel Orishane to help banks, fintechs, and microfinance institutions examine their credit.
The startup provides lenders with tools to influence a borrower’s ability to repay. These tools include credit intelligence, income verification, and risk assessment. It uses data from credit bureaus, open banking, and other sources to analyze borrowing risk in real time to limit default rates.
The $600,000 raise
“We are proud to lead this funding round in CreditChek, a company building the credit data infrastructure Africa needs to scale responsible lending,” Fatoumata Bâ, Founder and Executive Chair of Janngo Capital, said.
“By enabling lenders to make better decisions using alternative data, the company is helping expand access to financing for millions of underserved individuals and businesses while addressing Africa’s estimated $331 billion MSME financing gap.”
CreditChek specifically chose to expand in Kenya, Uganda, and Rwanda due to the broadening of its lending ecosystem and the growing demand for consumer and business credit.
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