Lidya, a digital fintech lender that provided one-click, same-day credit to business owners in fast-growing economies, has shifted its focus to becoming a credit enabler. Tunde Kehinde, the CEO of Lidya, explained in an interview that the company’s new focus is to provide financial institutions with the technological infrastructure to acquire customers and originate, manage, and collect loans.
The Collect tool, which is a key feature of the Lidya platform, enabled the company to achieve a 99% repayment rate. Kehinde believes that unlocking credit for Africans is essential for financial inclusion and economic growth, and the company’s mission is to unlock credit for Africans.
Lidya has registered over 220,000 businesses, disbursed ~32,500 loans, and is approaching US $100m in disbursement value across Nigeria, Lidya has the possibility to provide financial partners with access to more than 2 million customer leads. Lidya has some blue-chip customers, including Accion, who they have partnered with for credit enabling. By using Lidya’s credit infrastructure, all lenders will be able to deploy a wide variety of loans faster, with a higher repayment rate and excellent after-sales service.