Kenyan fintech CreditChek has closed a $600,000 funding round to extend its credit data infrastructure into East Africa, adding to an already profitable track record in Nigeria.
The round was led by Janngo Capital, with participation from returning backer Assembly Investors and new investors Vastly Valuable Ventures and Unipeg Capital.
CreditChek aggregates credit data from financial institutions, bureaus, and alternative data sources, normalising everything into a single API that lets lenders evaluate borrower risk in real time. The problem it is solving is acute: despite the rapid expansion of mobile money and digital finance across East Africa, lenders have long struggled with fragmented and unreliable credit data, making underwriting expensive and risk assessment imprecise.
The company enters this expansion from a strong commercial base. It has processed more than $60 million in credit applications across one million unique profiles in Nigeria and achieved profitability there. It previously completed the MTN Cloud Accelerator programme and secured a partnership with Bboxx under a $750 million World Bank-backed initiative aimed at extending solar financing to rural Nigerian households.
Read more: https://www.techinafrica.com/creditchek-pulls-in-600k-to-wire-east-africas-credit-infrastructure/
