Lidya Raises $1.25M in Funding

▤ Summary

Lidya, a fintech platform based in Nigeria, closed a US$1.25m seed funding round.The round was led by Accion Venture Lab, with participation from Newid Capital and several angel investors.Co-founded by Tunde Kehinde and Ercin Eksin, Lidya leverages credit algorithms to allow small companies to build a credit score and access financing to grow their businesses.Once a customer has been evaluated by the platform, qualified businesses receive a loan in as little as 48 hours based on their risk and capacity.Lidya has financed businesses spanning the agriculture, consumer goods, services, and creative industries, among others, and is targeting ₦1.5 billion in loan originations to SMEs in Nigeria in its first year of operations.

$ Funding

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