Lydia eyes $1.1bn to revolutionise MSME funding in Eastern Europe

Business Day Nigeria

Lidya which was established in 2016 by Tunde Kehinde and Ercin Eksin was targeted at helping small and medium business enterprises open accounts, save money, build credit profiles, and access credit to grow their businesses and address private necessities.

The company aims to digitize and streamline the credit assessment process to make it easy for any SMEs across Africa to access the funding they need to grow their business.

Tunde Kehinde, co-founder of the firm said “During slowdowns, banks restrict themselves from taking risks while businesses still need to function and finance their operational expenses, Together with the long-term investors on our side, we are basically agnostic to business cycles,” said.

A recent report released by the Organisation for Economic Cooperation and Development (OECD) shows that Poland is among the countries with the highest loan rejection rates for small and medium enterprises.

Read more at Business Day Nigeria. 

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