Announcing Our Investment in CreditChek

Published 16 January 2025
Image of post

We’re excited to announce Baobab Network’s latest investment in Creditchek.

Creditchek is building the cross-border credit assessment infrastructure to help African immigrants access financial services globally.

💡 What they do:

Based in Nigeria, CreditChek empowers African immigrants to access financial services by enabling banks and lenders to assess creditworthiness across borders in under 5 minutes. Their platform tackles a significant challenge: 70% of Africa’s 40 million annual emigrants are excluded from basic financial services because their credit histories don’t transfer between countries.

By connecting with major African credit bureaus, leveraging open banking for income assessments, and integrating with government databases for identity verification, CreditChek provides a comprehensive solution to bridge this gap.

🚀 Why we invested:

The founding team combines deep fintech and technical expertise. CEO Kingsley Ibe brings multiple years of fintech experience, having previously built and scaled MicroMoni. CTO Lionel Orishane contributes over a decade of experience in systems architecture and cybersecurity.

Together, they’ve developed technology that reduces credit assessment integration times from 9 months to just 72 hours, making it faster and more affordable for financial institutions to serve immigrant customers.

We’ve seen how similar solutions, such as Nova Credit have successfully addressed cross-border credit challenges in the U.S., and we believe CreditChek is poised to tackle this critical gap for Africa’s projected 147M emigrants by 2050.

Join us in welcoming CreditChek to Baobab Network!

Interested in applying to Baobab? Send us more information on your business here!