A financial technology company that experienced leadership issues and customer dissatisfaction.
Lidya, Nigeria’s digital lending pioneer, shuts down
Lidya was launched in 2016 by former Jumia executives Tunde Kehinde and Ercin Eksin. The company raised approximately $16.45 million between 2017 and 2021, including an $8.3 million pre-Series B funding round.
The problem with the African tech ecosystem is its storytelling
By 2050, one in four people on Earth will be African, emphasizing the continent's demographic significance. The narrative 'Africa’s Rising' has previously attracted global investment, exemplified by Jumia's unicorn status.
Exclusive: Nigerian SME lender Lidya shutters European business
Lidya is closing its European lending business to focus on its credit assessment and loan recovery offering for the Nigerian market. Lidya Collect, a loan recovery tool built on Nigeria's Global Standing Instruction (GSI), has become a key part of Lidya's new business direction.
