en.Wedoany.com Reported - Credit infrastructure company CreditChek has raised $600,000 to expand its data coverage in East Africa. The company helps fintechs, lenders, and financial institutions assess risk, reduce defaults, and scale lending through credit and alternative data.
The funding round was led by Janngo Capital, with participation from existing investor Assembly Investors and new investors Vastly Valuable Ventures and Unipeg Capital. The investment comes at a time when access to reliable credit data remains a major constraint for lending in the region. East Africa has seen rapid growth in digital financial services, driven by mobile money penetration and a fast-expanding fintech ecosystem, but lenders still face significant challenges in obtaining reliable and interoperable credit data, making underwriting more costly, reducing the effectiveness of risk assessment, and limiting access to credit for many individuals and businesses.
CreditChek is building core credit infrastructure to address this challenge. The company aggregates credit data from multiple sources, including financial institutions, credit bureaus, and alternative data providers, and standardizes it into a unified API, enabling lenders to assess borrower risk in real time. With this new funding, CreditChek plans to deepen its integration in key East African markets by working closely with banks, microfinance institutions, and fintech lenders to improve credit information access and streamline lending processes.
CreditChek co-founder and CEO Kingsley Ibe said that in many African markets, access to high-quality credit data remains a major bottleneck for financial services growth, and the company is building the data infrastructure that enables lenders to gain richer, more reliable insights; this funding allows it to expand its infrastructure and partnerships in East Africa. Janngo Capital founder and Executive Chair Fatoumata Bâ said that CreditChek is building the credit data infrastructure needed to scale responsible lending in Africa; the company has processed $60 million in credit applications across 1 million unique profiles in Nigeria and achieved profitability, demonstrating strong execution and product-market fit while helping address Africa's estimated $331 billion MSME financing gap.
CreditChek has achieved significant commercial progress in Nigeria, using this as a foundation to enter an expansion phase. The company previously reported that in its Nigerian operations, it has processed over $60 million in credit applications across 1 million unique profiles and has become profitable. It also recently completed the MTN Cloud Accelerator program, which strengthened its product development and go-to-market strategy. Prior to this funding round, CreditChek had received support from Baobab Network and also announced a partnership with Bboxx to participate in the World Bank-funded $750 million DARES project, aimed at expanding solar financing to 17 million households in rural Nigeria.
Expanding into East Africa is a significant step for CreditChek to become a leading credit infrastructure provider in Africa, enabling more seamless cross-border credit decisions by connecting fragmented data ecosystems.
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