Nigerian Fintech Lidya Raises USD 8.3 Mn To Scale Operations

Lidya, a Nigerian fintech and lending startup, announced that it has raised USD 8.3 Mn in a pre-Series B fundraising round. Alitheia Capital’s uMunthu Fund spearheaded the investment. Bamboo Capital Partners, Accion Venture Lab, and Flourish Ventures were among the other investors who took part.

Lidya is a financial services platform that aims to improve credit and finance access in frontier and emerging countries, focusing on Nigeria. The startup provides small business owners access to a working capital loan to expand their business operations. This new investment will see Lidya grow its lending operations for small and medium businesses across its markets.