Fido Ghana Secures USD 5.5 M Debt To Expand AI Lending For MSMEs

Fido Ghana has secured USD 5.5 M in debt financing from Symbiotics to scale its AI-driven lending platform for MSMEs and underserved individuals. The funding, which follows a Series B announced in 2024, was facilitated through the REGMIFA blended finance vehicle.

Founded in 2014, Fido uses its proprietary “Fido Score” to assess borrowers through alternative data such as mobile usage and transaction behaviour, enabling instant loans via its mobile app without traditional collateral.

CEO Alon Eitan says the capital will support expansion and product diversification. Operating in Ghana and Uganda, Fido is positioning itself as a key player in Africa’s MSME credit market amid competition.