CredPal

Credpal is a fintech startup that allows consumers buy anything across various online and offline merchants and pay for it in installments.

CredPal's card is designed to help you meet your most important obligations when you need to.

CredPal was founded in 2017 by Fehintolu Olaogun and Olorunfemi Jegede. The company is headquartered in Lagos, Lagos, Nigeria.

 

CredPal launched a point-of-sale consumer credit service plugged into e-commerce stores for lower-to-middle class income earners. Consumers can use to access CredPal’s BNPL services when they visit a partner store to shop for items ranging from electronics, particularly smartphones, to furniture and groceries.

 

CredPal built an omnichannel merchant suite, CredPal Pay, allows businesses of all sizes and categories to accept buy now, pay later options. The platform serves as a point-of-sale infrastructure that enables BNPL through a credit payment link, checkout plugin, QR codes\ and a transaction management system.

 

CredPal has 20,000 merchant signups; however, it has onboarded more than 4,000, with only 600 being monthly active merchants. They serve a monthly active customer base of 85,000.

 

CredPal is backed by Credit Direct, Greenhouse Capital, Y Combinator, Uncovered Fund, LongCommerce, First Circle Capital, Tangerine Life, and others. The company raised $15M in equity and debt financing on Mar 29, 2022. This brings CredPal's total funding to $16.7M to date.

 

 

  • Year founded: 2017
  • Funding Info: $16.7M over 4 Rounds (Latest Funding Type: Venture- Series Unknown)
  • Yearly Revenue: NA
  • Employee Size: 51-200
  • Business Valuation: NA
  • City/Town: Lagos
  • State: Lagos
  • Country: Nigeria
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