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Migo Raises $20 Million During Series B Funding

Providing credit to those who desperately need it is the mandate of the California-based lending firm Migo . According to Crunchbase News, Migo recently raised $20 million during its Series B funding. The team had previously raised over $10 million in their Series A. Since its inception, Migo has created a new lending space, a genuine accomplishment for an invention that initially began only as an artificial intelligence project.  Migo now partners with businesses in a variety of industry sectors, employing complex algorithms to calculate lending risk and then offers loans with a digital account, eliminating the need for credit cards .  Migo’s business model has proven so successful that, as noted by Business Insider, it has been able to raise over $35 million since its founding and to disburse N36 billion since 2017 . Launched in 2014, Migo is the brainchild of Mines Founder and CEO Ekechi Nwokah and Stanford University professor Kunle Olukotun. Formerly known as Mines, the startup...

Dec 10, 2019