Lending platform Lidya is looking to expand into the Czech Republic and Poland.
In Brief:
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The platform has already provided thousands of loans across Nigeria.
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It plans to disburse $1.1bn within the next five years.
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The platform targets small businesses which would struggle to gain finance from larger banks.
What does this mean?
Lidya is certainly filling what many FinTechs have identified as a gap in the market recently. Its online scoring system allows it to make fast decisions so businesses are not kept waiting – however the size of loans will be much larger in the Eastern European market which could mean more checks are needed.
