Nigerian FinTech firm plans European expansion

October 15, 2019 | SME Finance
Written by FinTech Alliance

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Lidya
Nigerian FinTech firm plans European expansion

Lending platform Lidya is looking to expand into the Czech Republic and Poland.

In Brief:

  • The platform has already provided thousands of loans across Nigeria.

  • It plans to disburse $1.1bn within the next five years.

  • 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.

Read more here.

 

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