The Nigerian fintech CredPal lends between 5,000 naira ( approximately $4.34) and 500,000 naira, depending on user eligibility, with repayment periods ranging from 30 to 180 days after a

Founded in 2018 in Lagos by Fehu Olaogun and Olorunfemi Jegede, CredPal is an innovative fintech developed by a Nigerian start-up. This mobile application allows users to access various financial services, such as saving, investing, and the option to buy now and pay later (BNPL). The start-up raised 15 million USD in March 2022 to expand its offerings and support its growth across the African continent. In addition to BNPL, CredPal offers savings services, a virtual credit card and the “Credit Builder”. This latest service helps customers improve their credit history by giving them access to credit through investments, allowing them to demonstrate their ability to repay debts on time, thus improving their credit score and ensuring a more stable financial future. CredPal lends between 5,000 naira (around $4.34) and 500,000 naira, depending on user eligibility, with repayment periods ranging from 30 to 180 days after a 30% deposit. Interest rates vary between 4% and 9%.