Lidya, a startup founded by by Tunde Kehinde, former CEO of Jumia Nigeria and Ercin Eksin, former director of Jumia Africa, has secured funding totaling $6.9 million from a consortium of investors.
Lidya is a financial services platform focused on improving access to credit for micro, small and medium-sized enterprises (SMEs) in Africa.
Founded in 2016, the startup will use the funds to expand its loan portfolio, expand its business in Nigeria, enter new markets in the rest of the continent and recruit data specialists and professional engineers to expand its team.
The fundraiser was led by Omidyar Network and Alitheia Capital, co-manager of Umunthu, a fund that supports high-growth, digital-driven companies in Africa, has also participated in this investment, alongside other venture capital firms.
Since its inception in 2016, Lidya has granted more than 1,500 loans to help companies involved in agriculture, hospitality, logistics, real estate or health in Africa.