Lidya

lendingsme financingneobanks / digital banks

FOUNDING YEAR: 2016
LOCATION: Nigeria
Last Update: 01/05/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

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

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)

Momentum

FUNDED

YES

TOTAL FUNDING

$8.15 M

DATE OF LAST FUNDING

May 2018

SEED & PRIOR FUNDING

$1.25 M

SEED CLOSED ON

Mar 2017

FUNDING SERIES

SERIES A  · $6.9 M  · May 2018

LISTED

NO

BASICS

FOUNDING YEAR:

2016

LOCATION:

Nigeria

Views:

572 VISITORS | 771 VIEWS
LATEST FUNDING ROUND

$8.15 M

About

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.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
Traction+
People+
Other+

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack