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Baobab Network, a leading early-stage investor and accelerator, has kickstarted its 2025 investment cycle by investing in CreditChek, a Nigerian fintech startup focused on revolutionizing cross-border credit assessments. The investment, whose amount remains undisclosed, aims to address the credit access challenges faced by African immigrants.
Streamlining Credit Assessments
CreditChek provides a platform that enables financial institutions to assess the creditworthiness of African consumers across borders in under five minutes. This innovation is critical, as over 70% of Africa’s 40 million annual emigrants are excluded from essential financial services due to the non-transferability of their credit histories between countries.
The platform significantly reduces credit assessment integration times from nine months to just 72 hours, making it faster and more affordable for banks and lenders to serve immigrant customers.
A Visionary Founding Team
Baobab Network praised CreditChek’s leadership team for their fintech expertise. CEO Kingsley Ibe brings years of experience, having previously built and scaled MicroMoni, while CTO Lionel Orishane brings over a decade of expertise in systems architecture and cybersecurity.
“Together, they’ve created technology that empowers financial institutions to serve Africa’s projected 147 million emigrants by 2050. Drawing inspiration from successful models like Nova Credit in the U.S., we believe CreditChek is uniquely positioned to address this critical gap,” Baobab Network stated.
Comprehensive Financial Solutions
CreditChek employs structured, user-permissioned data from diverse sources to provide robust identity, credit, and verification services. These capabilities allow fintechs, banks, microfinance institutions, retail businesses, and mobile money operators to develop tailored financial products for underserved populations.
The startup integrates with major African credit bureaus, leverages open banking for income verification, and connects with government databases for identity authentication. This comprehensive approach bridges the trust gap between creditworthy consumers and financial institutions across Africa.
A Mission for Financial Inclusion
CreditChek’s mission to enhance financial inclusion aligns with Baobab Network’s vision of empowering innovative solutions that address critical market challenges. With this investment, CreditChek is poised to transform how African immigrants access financial services, fostering greater trust and accessibility in cross-border credit markets.
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