Nigerian fintech startup Trade Lenda raises $520K in pre-seed round to accelerate growth

Nigerian fintech startup Trade Lenda raises $520K in pre-seed round to accelerate growth

Published: 13-02-2023 10:03:00 | By: Pie Kamau | hits: 4131 | Tags:

Trade Lenda, a Nigerian fintech startup that helps micro, small, and informal retailers with access to financing for their business needs, has raised $520K in pre-seed funding to speed its growth.

The funding round was led by Sovereign Capital, ARM Labs, and Expert Dojo, all of which have an interest in the African continent, as well as a few angel investors in Nigeria. The fintech startup which was founded in 2021 helps small businesses to get quick and affordable access to credit without any collateral within six hours.

Adeshina Adewumi, CEO,Trade Lenda: “Growing up I had first-hand experience on how small businesses can be instrumental to shaping the future which I am part of today. This is one of the things that drives us, knowing fully well that we can support today with our collective experience of millions of women like my mum who would go on to support their families at home.”
 
Trade Lenda has disbursed more than $2 million to over 1,500 firms and grown 5x between 2021 and 2022. Leveraging technology such as machine learning, Trade Lenda is underlying a smart algorithm to digitize access for millions of MSMEs in Nigeria and soon across Africa.