[Nigeria] Fintech startup Trade Lenda raises $520k in pre-seed round
Trade Lenda, a Nigerian fintech startup that helps micro, small, and informal retailers with access to financing for their business needs, has raised $520,000 in pre-seed funding to speed its growth.
The fintech startup which was founded in 2021 helps small businesses to get quick and affordable access to credit without any collateral within six hours.
The funding round was led by Sovereign Capital, ARM Labs, and Expert Dojo, all of which have an interest in the African continent, as well as a few angel investors in Nigeria.
The fintech says it has disbursed more than $2 million to over 1,500 firms and grown 5x between 2021 and 2022.
Leveraging technology such as machine learning, Trade Lenda is underlying a smart algorithm to digitize access for millions of MSMEs in Nigeria and soon across Africa.
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