Expanding Credit Access Through Data-Driven Solutions

Nigeria-based credit data infrastructure company CreditChek has announced a successful $600,000 funding round led by Janngo Capital. The investment will fuel the startup’s expansion into East African markets—specifically Kenya, Uganda, and Rwanda—bringing its risk assessment tools to lenders across the region.

This move addresses a critical need in Africa’s financial landscape where an estimated $331 billion financing gap persists for micro, small, and medium-sized enterprises (MSMEs). CreditChek aims to bridge this gap by providing lenders with richer data insights that enable more informed credit decisions.

Key Features of CreditChek’s Platform:

• Credit Insight: Access to cross-border credit history data
• Income Insight: AI-powered analysis of bank statements to verify income and predict repayment capacity
• Risk assessment tools: Helping lenders determine borrower eligibility with greater accuracy

According to CreditChek, loans underwritten using their data infrastructure show 75% lower delinquency rates compared to traditional methods—demonstrating the potential for more responsible lending practices.

“We’re building the data infrastructure that allows lenders to access richer, more reliable insights,” stated Kingsley Ibe, co-founder and CEO of CreditChek. “This funding enables us to scale our operations and bring faster, more inclusive credit decisions to millions across Africa.”

The company has already achieved significant traction in Nigeria, processing over $60 million in credit applications with more than one million unique customer profiles—reaching profitability through a pay-as-you-go model.