KiaKia a Nigerian fintech start-up has recently launched a mobile app for first lending that enable its users to make an investment in funding secured business and personal loans having its origin and booked by the fintech start-up so as to earn an interest income.
The fintech start-up got launched in 2016 and involves in the operations of peer-to-peer consumer and loans for SMEs that are accessible to the unbanked and underbanked population in Nigeria.
KiaKia executes this, via its algorithm-based risk assessment and a proprietary credit scoring.
The fintech start-up has facilitated and disbursed more than NGN4.5 billion in business and personal loans to MSMEs and individual business owners in Nigeria since 2016.
The company’s peer-to-peer (P2P) lending investment platform has been beneficial to individuals running on high-income, but its recent changes have opened the platform to all business operators owning a genuine source of funds.
According to Olajide Abiola, KiaKia, co-founder and chief executive officer (CEO), KiaKia, the fintech start-up was optimized to offer value in P2P lending and investment.
“We offer the opportunity to put your money to work, by efficiently aggregating funds, carefully matching and securely disbursing them to credit-worthy borrowers, allowing lenders and funders to directly enjoy interests and profit-sharing,” Olajide emphasised.
“Traditional financial institutions alone cannot meet the credit needs of economically active individuals and the real sector. This is why there is a need to ethically and creatively leverage crowd resources to bridge this critical gap.
What we have done is to simply reimagine systems that have worked for other societies and adapt the same to our unique social and economic dynamics and realities, riding on the record and strength of performance in the past four years.” Olajide added
The lending app is now available in the Google Play Store and hopes to release the iOS version in the coming week.
Featured Image: 85kobo
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