Business Finance Fintech Technology Technology Trends Posted on

Lendsqr Launches NGN1 Billion On-Lending Initiative to Empower Nigerian Lenders

Author admin 0 41

 

Nigerian fintech startup Lendsqr, recognized for its innovative loan management software serving banks, microfinance institutions (MFIs), and digital lenders, has announced the launch of a NGN1 billion (US$600,000) on-lending initiative. This move aims to support local lenders in expanding their credit offerings, providing them with the capital needed to scale. Since its founding in 2018, Lendsqr has streamlined lending operations and connected lenders with borrowers through its digital platform.Image preview

In discussing this new funding approach, CEO Adedeji Olowe noted, “For a long time, we believed that providing top-tier lending technology was enough to help lenders scale… But technology alone cannot scale a loan business without adequate capital.” This initiative specifically targets licensed lenders in Nigeria, offering them critical access to growth capital.

Lendsqr’s on-lending model directly addresses a pressing issue in digital lending: access to adequate loan capital. By bridging the gap between technology and funding, Lendsqr empowers lenders to meet customer demand, enhance credit offerings, and stay competitive in Nigeria’s evolving financial landscape.

 

 

 

“For a long time, we believed that providing top-tier lending technology was enough to help lenders scale… But technology alone cannot scale a loan business without adequate capital.” This initiative specifically targets licensed lenders in Nigeria, offering them critical access to growth capital.

Leave a Comment

Your email address will not be published.

You may also like

Art Business Culture Economy Posted on

Voices of a new generation: looking at how young Nigerians make use of the media and internet on Youth Day

Author admin 0 27
post-image

 

Many countries worldwide celebrate Youth Day in some form or another. However, this day is observed in Nigeria on November 1, highlighting the country’s youth population.

As a tribute to tomorrow’s leaders, this annual salute to the youth aims to highlight the challenges faced by the youth and find potential solutions for these issues. According to a paper published by Cambridge University Press, young Nigerians have to navigate numerous problems, including unemployment, poverty, and a lack of access to education.¹

At Aleph Group, we believe quality education is essential for equipping young Africans with the skills they need to enter the global workforce. This includes practical training in suitable industries and technology, said Stanislaus Martins, Aleph’s Managing Director for West Africa.

To that end, Nigerian youth have embraced technology with open arms. A recent study by Aleph…

Read More
Business Posted on

Datacentrix graduates singled out as only Southern Hemisphere winners in IBM watsonx Generative AI Challenge

Author admin 0 94
post-image

 

Datacentrix, a leading provider of high performing and secure ICT solutions, is proud to announce the outstanding achievements of two graduate teams. The two teams entered the recent IBM watsonx Generative AI Challenge and achieved first and third place in the watsonx AI Assistant Challenge track.

The aim of the interactive, hands-on competition was to allow participants to transcend theoretical generative AI concepts and create practical, AI-infused solutions for real-world customer use cases.

Competing against teams from 44 different countries across the Europe, Middle East and Africa (EMEA) region, Datacentrix’s X-men group, composed of graduates from Cape Town and Johannesburg, secured first place, while the Quadbots, hailing from Durban, earned third place, marking a significant milestone for Datacentrix as the only winning teams from the Southern Hemisphere across the entire competition.

The IBM watsonx Generative AI Challenge focused on three key trials: using prompt engineering to analyse customer experience with watsonx.ai; automating…

Read More
Business Finance Fintech Security Society Software Posted on

Babcock University and ThinkCyber Nigeria Partner to Revolutionize Cybersecurity Training

Author admin 0 133
post-image

In a groundbreaking move for cybersecurity education, Babcock University has announced a strategic partnership with ThinkCyber Nigeria, a collaboration that promises to redefine the standards of training for aspiring cybersecurity professionals. Professor AKINTOYE Ishola Rufus, Head of Babcock University Business School, elaborated on the significance of this partnership during an exclusive interview with Anthony Nwosu, emphasizing the urgent need for industry-aligned training in today’s rapidly evolving digital landscape.

The partnership centers on the implementation of ThinkCyber’s CYBERIUM ARENA, an innovative cyber simulation environment that provides students and corporate professionals with hands-on experience. Professor Rufus stated, “Our collaboration with ThinkCyber is transformative. It enables us to equip our students and industry professionals with practical skills necessary to combat current and emerging cyber threats effectively. This immersive learning experience is critical in preparing them for the complexities of the cybersecurity landscape.”

Opened in September 2022 in Ilishan, Ogun State, the Babcock Business School…

Read More
Business Posted on

Bright Okere Honored as “Top 35 Under 35 Marketing and Communication Professional in Nigeria”

Author admin 0 104
post-image

 

Bright Okere, Head of Marketing at AHA Games under Transsion Holdings, has been awarded a coveted spot among Nigeria’s “Top 35 Under 35 Marketing and Communication Professionals” by Brand Communicator. The recognition is a significant career milestone and a heartfelt tribute to his late father, who inspired him to excel.No alternative text description for this image

Reflecting on his father’s legacy, Okere shared, “My late dad had a dream but couldn’t stay long enough to fulfill it.” His father, a former newspaper editor fluent in five languages—English, Igbo, Hausa, Efik, and Latin—was a dedicated professional and a guiding influence. Bright recalls a cherished moment when his father…

Read More
Business Finance Fintech Technology Technology Trends Posted on

Lendsqr Launches NGN1 Billion On-Lending Initiative to Empower Nigerian Lenders

Author admin 0 41
post-image

 

Nigerian fintech startup Lendsqr, recognized for its innovative loan management software serving banks, microfinance institutions (MFIs), and digital lenders, has announced the launch of a NGN1 billion (US$600,000) on-lending initiative. This move aims to support local lenders in expanding their credit offerings, providing them with the capital needed to scale. Since its founding in 2018, Lendsqr has streamlined lending operations and connected lenders with borrowers through its digital platform.Image preview

In discussing this new funding approach, CEO Adedeji Olowe noted, “For a long time, we believed that providing top-tier lending technology was enough to help lenders scale… But technology alone cannot scale a loan business without adequate capital.” This initiative specifically targets licensed lenders in Nigeria, offering them critical access to growth capital.

Lendsqr’s on-lending model directly addresses a pressing issue in digital lending: access to adequate…

Read More
Announcements Business Gadgets Technology Technology Trends Posted on

Stakeholders at FIBOP Workshop Urge Strategic Steps to Enhance Nigeria’s Digital and Financial Ecosystem

Author admin 0 89
post-image

The Financial Inclusion and Business Optimization Program (FIBOP) workshop, held at Orchid Hotels in Lekki from October 18-20, concluded with a call for crucial reforms aimed at strengthening Nigeria’s digital and financial infrastructure. Under the theme “Digital Innovation: Deepening Infrastructure for an Efficient Financial Ecosystem,” the event gathered leaders from Nigeria’s banking, maritime, oil and gas sectors, alongside representatives from the Nigeria Customs Service (NCS), to discuss innovative solutions for expanding financial access and improving operational efficiency.

A key resolution from the workshop focused on establishing a homegrown financial infrastructure capable of integrating Nigeria’s estimated N36 trillion informal sector. Stakeholders emphasized that this move would support the government’s financial inclusion efforts, which are crucial for stimulating economic growth. Additionally, participants recommended that the government take steps to expand credit access for the informal sector by reducing credit costs, thereby boosting internally generated revenue.

Energy sustainability emerged as another focus area, with…

Read More
Business Culture Economy Finance Fintech Posted on

UBA Group’s Inclusive Career Development Initiative Garners Praise from Staff

Author admin 0 211
post-image

 

Gbolahan Kadir, a Customer Success Specialist handling enterprise clients, has lauded UBA Group’s recent initiative to elevate its commitment to career progression by re-evaluating career paths for contract staff. In a statement shared on social media, Kadir expressed excitement over UBA’s move to readdress previously converted contract staff, aligning them with core banking roles such as Executive Trainee (ET), Assistant Banking Officer (ABO), and Banking Officer (BO).

Kadir emphasized that this progressive policy—allowing contract staff up to the age of 30 to apply for the Executive Trainee program—distinguishes UBA from industry peers who may not offer similar career advancement opportunities for non-core staff. According to him, this initiative highlights UBA’s dedication to fostering an inclusive and supportive work environment where every employee can thrive.

“This step not only elevates employee morale but also strengthens career satisfaction and growth within the organization,” Kadir noted. He applauded UBA Group’s management for the decision,…

Read More
Business Culture Economy Environment Investments News Society Trends Posted on

Roberta Edu’s Path to Walmart: A Lesson in Due Diligence and Business Integrity

Author admin 0 157
post-image

 

Breaking into the competitive American market is a dream for many brands, and for Roberta Edu, CEO of Nigeria’s Moppet, that dream came closer to reality when her baby formula brand received an invitation to join the Walmart Marketplace. Yet, her path to this milestone was anything but straightforward. In a journey marked by caution, wisdom, and resilience, Edu shares how stringent due diligence practices helped her sidestep potential pitfalls and secure Moppet’s reputation as it prepared for this significant market entry.

Edu’s story highlights the importance of integrity and verification in high-stakes business moves. Reflecting on a prior offer from a distributor promising lucrative market access in the United States, Edu admits the initial excitement clouded her judgment. “In your quest to do business, expand, and penetrate the market, please do not close your eyes to red flags and don’t dabble in dirty waters knowingly or unknowingly,” she shared….

Read More