Nigeria’s Indicina raises $3 million to underwrite loans for credit bureaus and banks

ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, June 7 – Lagos-based Indicina uses alternative data to gauge the credit risks of un- and underbanked people and businesses in Nigeria and Kenya for credit bureaus, banks and digital lenders. The woman-led company is looking to provide consumer credit profiles as well, similar to Credit Karma in the U.S., TechCrunch reports.

Indicina has raised a $3 million seed round was backed by Berlin-based Target Global, Greycroft and RV Ventures. Early investors include Catalyst Fund.