Fintech Lenders: Access and Distribution Channels

List of active fintech lenders in Nigeria. It captures the lending conditions, access methods, disbursement, repayment, mitigation, and risk assessment.


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Product NameDescriptionWebsiteYear LaunchedActive In How Many Countries?Operating Locations Within NigeriaPrimary Lending ModelDoes The Product Offer Loans To Individuals?Does The Product Offer Loans To Individuals Without A Formal Employment Or A Registered BusinsessPayday Loans For Employees?Credit For Asset/Finance Purchase?Cashback For IndividualsMaximum Tenor (Months) For Personal Loans Maximum Interest Rate (Monthly) For Personal Loans Maximum Annual Percentage Rate For Personal Loans Minimum Lending Amount (Ngn) For Personal Loans Maximum Lending Amount (Ngn) For Personal Loans Does The Product Offer Credit Facilities To Businesses?Start-Up Capital Loan For Businsses?Working Capital Loan For Businesses?Overdraft For Individuals Or Businesses?Agent Financing For Mobile Money?Maximum Tenor (Months) For Business Working CapitalMaximum Interest Rate (Monthly) For Business Working CapitalMaximum Lending Amount (Ngn) For Business Working Capital Other ChargesLoan Insurance?Can Borrowers Top-Up Their LoanAccess Via Ussd/Sms/CallAccess Via AppAccess Via WebsiteAccess Via BranchDisbursement Via Bank AccountDisbursement Via E-WalletDisbursement Via Platform CardRepay Via Direct Debit Or Standing Payment OrderRepay Via Bank TransferRepay Via Cash Or Over-The-CounterRepay Via Website Or AppRepay Via AtmRepay Via ChequeRepay Via Ussd/SmsRemedial Action Via Credit BureauRemedial Action Via Legal ActionRemedial Action Via BlacklistRemedial Action Via Contact GuarantorRemedial Action Via Debt Collection AgencyRemedial Action Via Contact EmployerRemedial Action Via Name & ShameRemedial Action Via Default ChargeRisk Assessed Via Credit History CheckRisk Assessed Via Phone Records/Sms/Contacts/Gps For Personal LoansRisk Assessed Via Employment Check For Personal LoansRisk Assessed Via Business/Bank Transaction StatementRisk Assessed Via Incoporation Document For Business LoansRisk Assessed Via Proof Of ResidenceRisk Assessed Via GuarantorRisk Assessed Via Collateral/Security Deposits For Business LoansOther Requirements For LoansPeriod (Months) Of Bank/Financial Statement For Business LoansAffiliate Institution (E.G. Bank, Telco)Does The Product Use Advanced Predictive Models For Loan Assessment?Does The Product Offer Savings/Investment?Minimum Tenor (Month) For Savings/InvestmentMaximum Tenor (Month) For Savings/InvestmentMinimum Fund (Ngn) For Savings/InvestmentMaximum Fund (Ngn) For Savings/InvestmentMaximum Annual Percentage Rate For Savings/InvestmentIs There An Halal Option For Savings/InvestmentEstimated External Funding To DateOther Service Offering 1 Other Service Offering 2Other Service Offering 3
LydiaLydia provides credit financing for businesses based on their cashflow. statesDirect LendingNoNoNoYesN/aN/aN/aN/aN/aN/aYesNoYesNoYesFlexible3.5%USD 100,000NoNoNoNoNoYesNoNoYesNoYesNoNoYesNoNoNoYesYesNoNoYesNoNoNoYesNoNoYesYesNoNoNoNo3NoneYesNoN/aN/aN/aN/aN/aN/a$16,500,000Invoice & customer list managementCredit cardsNo
KiaKiaA peer to peer marketplace that offers seameless borrowing and lending service. statesPlatform LendingYesNoNoNoNo320.00%240%10,000200,000YesNoYesNoNo315%FlexibleNGN 800NoNoNoNoYesNoYesNoNoYesYesNoNoNoNoYesNoYesNoYesYesNoNoYesYesNoYesYesYesNoYesNoNo6NoneNoYes61850,0002,500,00040%YesUndisclosedNoNoNo
Aella CreditAella provides easy and instant access for users to get loan, investment and health insurance statesDirect LendingYesYesNoNoNo320%240%2,0001,000,000NoNoN/aNoNoN/aN/aN/aNoNoNoNoYesYesNoYesYesNoYesNoNoYesNoNoNoYesYesYesNoYesYesYesYesYesYesNoNoN/aNoNoN/aNoN/aNoneYesYes31210,000100,000,00026%No10,300,000Funds transferBill paymentHealth Insurance
CarbonCarbon helps users to pay bills, transfer money, get instant loans and enjoy high interest savings. statesDirect LendingYesYesNoYesYes1215%180%10,0001,000,000YesNoYesYesNo35%20,000,000NoNoYesYesYesYesNoNoYesNoYesNoNoYesNoNoYesYeaYesNoNoYesNoNoYesYesYesNoYesYesNoNoNoNo6NoneYesYes112100100,000,00011%No15,800,000Online payment processing & fund transferPhysical and virtual debit cardsIdentity Verification