FUNDINGUpdated 1 months ago

Lidya Nigeria

Lidya: founded Nigeria, providing working capital to SMEs using alternative data scoring. Expanded to European markets in 2019-2020. Pioneer of African alternative-data SME lending.

English, French, Portuguese or Arabic, machine translated, with the original kept beside it.
Key Information
Organisation
Lidya
Location
Nigeria, Europe, Nigeria
Status
Open
Application Deadline
Rolling
Type
Working Capital
Amount
NGN 100,000 to 100,000,000
Size
medium
Language
English
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Description

Lidya is a Nigerian-founded fintech that provides working capital loans to SMEs using alternative data scoring rather than traditional collateral. The company is widely cited as one of the pioneers of African alternative-data SME lending. Lidya expanded into European markets in 2019-2020, an unusual move for an African fintech, reflecting the founders view that the alternative-data underwriting model would work outside Africa as well as inside it. Lidya is mentioned alongside Asante and B2B commerce companies (Wasoko, MaxAB) as a leader in non-asset-backed productive financing in Africa.

Focus Sectors

SME, Working Capital, Alternative Data