Best Alternative Lending Companies in Nigeria
The 92 best Alternative Lending companies in Nigeria in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Moove.
Nigeria's Alternative Lending sector gets its clearest ranking here: 92 companies tracked, sorted by disclosed equity funding and recent momentum, with a combined $379M raised across the board. Moove leads by a distance at $260M, followed by FairMoney at $57M and Credpal at $17M. No unicorns yet, but the capital concentration at the top is steep enough that the gap between the top three and everyone else tells its own story. The global market is running at a 14.4% CAGR, and Nigeria's activity fits that trajectory, particularly as demand from both individuals and businesses pushes lenders toward collateral-based models and subprime personal loan products.
So what's actually moving the needle right now? Coverage is flat, but the hot search themes, personal loan eligibility, subprime personal loans, collateral-based lending, signal that borrowers are getting more sophisticated about their options. As shown in 2016 research, borrower information quality directly shapes lending outcomes on alternative platforms, which matters a lot when you're serving thin-file customers in emerging markets. Techstars and Microtraction are among the most active backers in this directory, and honestly, their presence here tells you the sector's still early enough to attract accelerator capital at scale. If you're mapping the Nigerian fintech credit stack, this is where to start.
Ranked: Best Alternative Lending companies in Nigeria
| # | Company | Disclosed funding | Last round | Stage | Employees | Founded | Tech stack | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | Moove Provider of revenue-based vehicle financing to mobility entrepreneurs | $260M | 27 mo ago | Series B | 392 | 2020 | WordPressMySQLPHP+25 | — |
| 2 | FairMoney Provider of a digital microfinance bank for individuals | $57M | 56 mo ago | Series B | — | 2017 | WebflowNode.jsGSAP+22 | — |
| 3 | Credpal Credit card-based point-of-sale financing solutions | $17M | 49 mo ago | Series A | 83 | 2017 | TurbopackNode.jsUbuntu+12 | — |
| 4 | Aella App App-based platform providing financial solutions to consumers | $13M | 76 mo ago | Seed | 78 | 2015 | Node.jsReactNext.js+11 | 3 launchs |
| 5 | Front Edge Cross-border payment processing solution for businesses | $10M | 31 mo ago | Seed | 6 | 2020 | — | — |
| 6 | BFREE Provider of credit management solutions for distressed assets and debt recovery | $7M | 2 mo ago | Series A | 200 | 2020 | Node.jsCKEditorChart.js+12 | — |
| 7 | Shekel Provider of the marketplace offering inventory loans and digital banking for automobile businesses | $5M | 31 mo ago | Series A | 8 | 2021 | SentryNode.jsTailwind CSS+13 | — |
| 8 | Zuvy Software platform offering invoice management | $4M | 35 mo ago | Acquired | 12 | 2021 | — | — |
| 9 | SunFi Provider of solar finance management platform | $2M | 40 mo ago | Seed | 39 | 2021 | SentryZohoAnimate.css+24 | 1 launch · 1 partnership · 1 expansion |
| 10 | Egoras Online marketplace for asset-backed loans | $1M | 60 mo ago | Seed | 56 | 2020 | — | — |
| 11 | Klump Online point-of-sale financing platform for individuals | $780K | 51 mo ago | Seed | 13 | 2021 | Node.jsTailwind CSSVue.js+13 | — |
| 12 | Trade Lenda Online marketplace offering diversified loans for businesses | $520K | 40 mo ago | Seed | 13 | 2021 | Node.jsBootstrapAmazon Web Services+12 | — |
| 13 | MamaMoni Platform offers micro loans | $269K | 28 mo ago | Seed | — | 2015 | — | — |
| 14 | VetsArk App-based lending marketplace for agriculture financing | $250K | 37 mo ago | Seed | 8 | 2018 | TurbopackNode.jsTailwind CSS+8 | — |
| 15 | Cobble Provider of credit score and debt management services | $139K | 43 mo ago | Seed | 1 | 2020 | — | — |
| 16 | CARMA Online credit data marketplace for lenders | $125K | 55 mo ago | Deadpooled | 5 | 2020 | — | — |
| 17 | Anyi App-based platform for healthcare financing | $100K | 76 mo ago | Seed | 2 | 2019 | — | — |
Top 12 Alternative Lending companies in Nigeria
#1
Series A · Lagos, Lagos · founded 2020 · 200 employees$7.4Mraised▾
Provider of credit management solutions for distressed assets and debt recovery. It offers a Software-as-a-Service (SaaS) workflow for internal collections teams and purchases distressed assets, primarily non-collateralized consumer loans. The company utilizes machine learning to analyze consumer behavior and tailors its collection strategies to individual customer needs. Progress reports are provided to clients, and fees are typically commission-based. The services aim to improve credit scoring processes and reduce non-performing loans for lending businesses.
- Apr 2026Series A$3.2M
- Nov 2025Conventional Debt$250K
- Jul 2025Conventional Debt$3M
- Feb 2024Seed$3M
#2
Series B · Lagos, Lagos · founded 2020 · 392 employees$259.5Mraised▾
Provider of revenue-based vehicle financing to mobility entrepreneurs. It enables drivers to buy vehicles based on their alternative credit scores. It uses proprietary performance and revenue analytics to underwrite loans to customers. It is applicable for ride-hailing, logistics, mass transit, and instant delivery services.
- Mar 2024Series B$100M
- Feb 2024Venture Debt$10M
- Aug 2023Venture Debt$10M
- Aug 2023Series B$66M
#3
Series B · Ikeja, Lagos · founded 2017$57Mraised▾
Provider of a digital microfinance bank for individuals. It provides users with a platform that offers financial products including savings accounts, prepaid cards, money transfers, bill payments, consumer and business loans, and more. It also features POS devices, fixed deposits, savings calculators, loan calculators, and expense management tools. Its app is available for Android and iOS users. It make it easy for users to apply for a loan and receive your loan into your bank account in minutes.
- Oct 2021Series B—
- Jul 2021Series B$42M
- Sep 2019Series A$11.1M
- 2018Seed$1.4M
#4
Seed · Lagos, Lagos · founded 2020 · 6 employees$10Mraised▾
Cross-border payment processing solution for businesses. Offers multi-currency accounts and make international transactions, exchange currencies and send payments instantly, facilitating trade in sustainably produced goods of the highest quality from reputable traders, and more.
- Nov 2023Conventional Debt—
- Nov 2023Seed$10M
#5
Series A · Lagos, Lagos · founded 2021 · 8 employees$5.2Mraised▾
Provider of the marketplace offering inventory loans and digital banking for automobile businesses. It provides users with loans to its users for purchasing inventory for automobile businesses without any collateral and offers multiple loan products from different lenders. It also offers digital banking services for automobile businesses which allows them to manage current or savings accounts, and pay and receive money. The platform also acts as a global marketplace for car buying-selling.
- Nov 2023Series A$3.2M
- Nov 2023Conventional Debt$4M
- Jan 2023Seed$1.9M
- Apr 2022Seed—
#6
Series A · Lagos, Lagos · founded 2017 · 83 employees$16.6Mraised▾
Credit card-based point-of-sale financing solutions. It enables users to make installment payments at partnered merchant outlets. It also enables businesses to accept installment payments. It provides an app-based platform that is available on iOS and Android devices.
- May 2022Series A—
- Mar 2022Conventional Debt—
- Mar 2022Series A$15M
- Dec 2020Seed$1.5M
#7
Acquired · Lagos, Lagos · founded 2021 · 12 employees$4.5Mraised▾
Software platform offering invoice management. It offers solutions such as creating and sending your invoices, invoice approval, requesting a cash advance, and more. It also offers payment acceptance solutions.
- Jul 2023Conventional Debt—
- Jul 2023Series A$4.5M
- Apr 2023Conventional Debt$50K
- Nov 2022Conventional Debt$25K
#8
Seed · Lagos, Lagos · founded 2015 · 78 employees$13Mraised▾
App-based platform providing financial solutions to consumers. It features a P2P lending platform that allows borrowers to apply for personal loans and simultaneously enables investors to invest funds in order to provide financing solutions to borrowers. The investor gets the ROI for the invested fund based on the loan term and the interest rate provided. Its app-based platform also allows users to apply for health insurance services. The app is available for both Android and IOS devices.
- Feb 2020Conventional Debt$10M
- Oct 2017Seed$2M
- Sep 2015Seed$1M
#9
Seed · Lagos, Lagos · founded 2021 · 39 employees$2.4Mraised▾
Provider of solar finance management platform. It offers solutions such as tracking repayment plan schedules, energy management, and more.
- Feb 2023Seed$2.4M
#10
Seed · Lagos, Lagos · founded 2015$269.4Kraised▾
Platform offers micro loans
#11
Seed · Maryland, Lagos · founded 2021 · 13 employees$520Kraised▾
Online marketplace offering diversified loans for businesses. Its offerings include working capital loans, purchase order financing loans, invoice discounting and trade finance loans, and more. It also allows users to invest and earn yields on the capital with features of real-time monitoring, and dedicated managers.
- Jan 2023Seed$520K
#12
Seed · Port Harcourt, Rivers State · founded 2020 · 56 employees$1.3Mraised▾
Online marketplace for asset-backed loans. It offers a blockchain-based platform that enables borrowers to obtain loan products by providing digital and physical assets as collateral. It features a proprietary collateral valuation tool that provides quotes for the collateralized asset.
- Jun 2021ICO$260K
- Apr 2021Seed$1.3M
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Alternative Lending coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
Common questions
Rohit lives in the feed. He covers what's moving right now — the funding rounds, launches and shifts breaking across the trade press — and ties them back to where the sector is heading.