- Fido, a Ghanaian fintech, secured $30 million in debt and equity funding to expand its digital lending services across Africa.
- The raise includes a $20 million Series B led by BlueOrchard Finance and Dutch development bank FMO, along with $10 million in debt from Stanbic Bank Ghana and Growth Investment Partners.
- This funding matches the $30 million from its 2022 Series A and brings its total raised to $68 million.
- Founded in 2014, Fido operates a mobile app providing instant credit loans in Ghana and Uganda, using its AI-powered Fido Score to assess credit risk and detect fraud.
- Fido has distributed $500 million in credit to over 1 million customers and offers additional services like savings accounts, mobile phone financing, and bill payments.
- The funds will support Fido’s mission of making financial services accessible to the unbanked, expanding into new markets, and enhancing product offerings, including small business loans, savings, and personalized insurance.
