SeedFi, a fintech firm, is dedicated to helping micro, small, and medium enterprises (MSMEs) in Nigeria gain easier access to capital for business expansion. Founder and CEO Pelumi Alli, emphasizes the need to bridge the credit gap for underserved groups, offering not only financial access but also educational resources. SeedFi uses data-driven insights to assess creditworthiness and extend loans to individuals and businesses with limited or no formal credit history.
Alli envisions a world where young Africans’ aspirations are supported through accessible credit and financing. SeedFi focuses on improving the borrowing experience and risk management by leveraging diverse data sources. The company’s goal is to provide tailored, flexible, and affordable digital lending solutions that cater to customer needs.
SeedFi’s co-founder and chief commercial officer, Samaila Dogara, highlights a unique feature that reduces principal balance interest calculations. Each repayment allocates a portion to reduce the outstanding principal, leading to lower interest charges. Additionally, customers have the option to reschedule their loan repayment date for convenience. SeedFi introduces a cluster lending feature, enabling groups to obtain loans for specific financial purposes, fostering accountability, and maintaining good credit scores among members.
The company emphasizes integrity and transparency, ensuring that all fees are explicitly stated upfront. Customer consent is paramount, and upon loan approval, an offer letter with clear terms and repayment details is provided. SeedFi’s mission is to empower MSMEs by simplifying financial processes and providing a reliable avenue for business growth.
