Nigerian fintech startup, Evolve Credit, receives $25 000 funding

Evolve Credit has received $25 000 in funding from Venture Capitalist firm, Microtraction.

Ola Olaoluwa
Ola Olaoluwa

Evolve Credit, a loan and financial service intended to help Nigerians select the best-suited loan product has recieved a $25,000 investment from Nigeria-based Venture Capitalist firm, Microtraction.

Evolve Credit aims to eliminate the paperwork from the loan and financial product application process so that people can apply for a loan, open a savings account, or get car insurance without traveling to a physical branch.

Image Source: Technext.ng

Microtraction’s angel fund, on the other hand, aims to ease Africa’s move into a sustainable and developed economy. The fund helps African tech entrepreneurs looking to leverage technology, capital, and problem-solving, to access pre-seed funding.

Nigeria In Focus:

Population: 206.6 million (Compared to South Africa's 59.6 million)

GDP: $504.57 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $2,465 (Compared to South Africa's $6,193)

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Ola Olaoluwa

Writer | Economist