As regulators turn sights on fintech, a Nigerian startup is first to secure credit rating

Thursday, December 13, 2018

By Yomi Kazeem

Fintech companies in Africa are increasingly playing in spaces dominated by traditional financial institutions.

One Finance, parent company of Nigerian lending platform Paylater, has secured a credit rating. Global Credit Rating, a leading credit ratings agency in Africa assigned One Finance a “BB” score, following a “rigorous” and “testing” process. It’s the latest step as African fintech companies go mainstream, winning customers and investor conviction along the way.

Photo courtesy of lirneasia.

Source: Quartz Africa (link opens in a new window)

fintech, mobile finance, startups