CreditChek Buys Uganda’s Algosys to Expand in East Africa
Summary
CreditChek acquired Ugandan banking software company Algosys for an undisclosed amount. The deal gives CreditChek its first operating base in East Africa and follows its recent $600,000 funding round. Algosys serves 22 financial institutions in Uganda with core banking and lending software, and it will continue as a CreditChek subsidiary. CreditChek plans to combine its credit-data tools with Algosys’ loan origination and loan-management systems to broaden its platform across the lending lifecycle.
AskAI Classifications
Sectors
Fintech, Banking and Payments
General FinTech
Core Banking Software
Functions
Developer and IT Infrastructure
Security
Governance, risk and compliance
Linked Companies
CreditChek Technologies Nigeria Limited
up to $1M
Algosys Limited
$1M to $5M