Nigeria's credit infrastructure platform Indicina raises $3 million in a seed round

Oluwajuwonlo Afolabi -

Indicina, a Nigeria-based credit and financial management platform has raised $3 million in its seed funding round led by Target Global.

  • The funds will be used to expand its services to new African markets, build out more products, and hire additional talents in data science and machine learning.
  • Launched in 2019, Indicina offers a credit infrastructure platform that allows lenders to access credit scoring and sentiment analysis, and get ML-based financial analytics and improved insights on customers for risk-free credit decisions.
  • The platform provides credit infrastructure for lenders to market their digital products faster, with over $5 million in loans processed and $1.17 million disbursed.
  • Greycroft and RV Ventures participated in the funding round.