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Nigerian Fintech Lidya Raises $8.3M Pre-Series B To Scale Operations As A Global Business

Nigerian fintech and lending startup Lidya has announced the raise of an $8.3 million pre-Series B funding round in an effort to continue expanding operations for the company in Europe. According to TechCrunch, investment firm Alitheia Capital led the funding round via its uMunthu Fund, with participation from other investors such as Bamboo Capital Partners, Accion Venture Lab and Flourish Ventures. “Lidya is tackling the fundamental challenge of providing access to credit for dynamic small and growing businesses that otherwise have limited options for financing working capital to scale their businesses in Africa and Europe,” Alitheia Capital co-founder and managing director Tokunboh Ishmael said in a statement. “Alitheia Capital and Goodwell are pleased to be backing a team whose mission aligns with our objective of driving growth and social impact by enabling access and inclusion to finance and financial services.” In addition to its latest round, Lidya has raised a total of $16.5...

Jul 7, 2021