Lidya

lendingsme financingneobanks / digital banks

FOUNDING YEAR: 2016
LOCATION: Nigeria
Last Update: 19/01/2021

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About

Lidya is a financial services platform to improve access to credit and finance across fast growing economies. We use innovative technology with a strong customer experience and proprietary credit scoring algorithms to help small & medium businesses open an account online, manage funds, and access credit needed to grow their businesses and plan their futures.In addition, we have created dashboards and tools to help businesses manage their receivables and cashflow to build credit scores that unlock higher credit limits and affordable rates. Welcome to Lidya. Welcome to the future.

MEDICI Analysis

Lidya provides an online lending platform for Nigeria-based SMEs and individuals. Its credit algorithms allow SMEs to build a credit score and access financing to grow their businesses. The company aims to digitize and streamline the credit assessment process to make it easy for any SMEs across Africa to access the funding they need to grow their business. Lidya has been recently accepted into the MasterCard Start Path Program.

Focus

PRODUCTS & SERVICES

Lydia provides a credit-based platform that allows business to sell invoice and get financed within two days. The company offers collateral-free loans for the purchase inventory, upgrade equipment, working capital, business expansion, invest in social media, etc. It offers business loans ranging from $500 to $50,000 by without collateral, verifying physical location, present audited financials, and projections. It also provides a mobile app that enables micro, small, and medium-sized enterprises (MSMEs) to create an online account, and share business & transaction details to the platform. With the platform, MSME can manage cash flows, customer data, and create and send invoices digitally.

MAIN CLIENTS

Major customers from farming

hospitality

logistics

retail

real estate

technology

and health. Some of its customers; Bentigos

Ajebo market

Gainmart

Emmafids

etc.

COMMENT

Lidya assesses credit risk by using around 100 data points to evaluate each business and builds a unique credit score.

Traction

COMPANY TYPE:

For Profit

TRANSACTIONS COMMENT:

The company claims it has closed around 2,000 business loans. (June 2018)

ACTIVE USERS COMMENT:

The company has more than 106k business registered users till date. (June 2018)

OTHER INFO:

In Nigeria, the IFC estimates that there is an MSME credit gap of at least $25 billion. (June 2018)

People

FOUNDERS

Tunde Kehinde

Ercin Eksin

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Accion Venture Lab

Alitheia Capital

Bamboo Capital Partners

Newid Capital

OMIDYAR NETWORK

Tekton Ventures

David Chan

Savannah Fund

Momentum

FUNDED

YES

NUMBER OF FUNDING ROUNDS

2

TOTAL FUNDING

$8.15 M

DATE OF LAST FUNDING

May 2018

IPO STATUS

Private

ESTIMETED REVENUE RANGE

$1M to $10M

SEED & PRIOR FUNDING

$1.25 M

SEED CLOSED ON

Mar 2017

FUNDING SERIES

SERIES A  · $6.9 M  · May 2018

LISTED

NO

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

8,889

AVERAGE VISITS (6 MONTHS)

19,965.72

MONTHLY VISITS GROWTH

-40.96%

VISIT DURATION

998

VISIT DURATION GROWTH

712.82%

PAGE VIEWS VISIT

3.42

PAGE VIEWS VISIT GROWTH

-7.78%

BOUNCE RATE

42.16%

BOUNCE RATE GROWTH

-6.47%

GLOBAL TRAFFIC RANK

1,392,527

MONTHLY RANK CHANGE

132,602

MONTHLY RANK GROWTH

10.52%

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