SeedFi boasts access to credit

A digital loan company, SeedFi, has restated its commitment to improving Nigerians’ access to credit by providing financial education and trust-building activities for the underserved.

The Founder and CEO of SeedFi, Pelumi Alli, emphasised that the initiative was born out of the need to address the financial challenges faced by a significant portion of the Nigerian population.

According to Alli, about 67 per cent of Nigerians do not seek credit, even from friends and family, due to factors such as insufficient data for making informed decisions, restricted access to formal financial services for specific demographics, financial illiteracy, and a lack of trust in the financial system.

“To overcome these challenges and expand financial access to underserved groups, SeedFi plans to offer not only credit but also financial education and trust-building activities for consumers,” he said in a release.

He noted that the firm’s approach included sharing information on building a strong credit profile, personal finance management, and providing flexible repayment structures.

He added that the firm would utilize data-led services to create user-centric lending solutions that can make a significant difference in people’s lives.

He highlighted SeedFi’s vision of creating a world where young Africans would have access to credit and financing that supports their dreams.

‘’At SeedFi, our vision is a world where the dreams of young Africans are supported through access to credit and financing. We are improving the credit experience for borrowers and managing risk for lenders by gathering and learning from different data touchpoints.

“We are bridging the financing gap by providing flexible, convenient, and affordable digital lending solutions that are tailored to meet the needs of our customers, wherever they are,’’ Alli stated.

Co-founder and Chief Commercial Officer at SeedFi, Samaila Dogara, remarked that the company differentiated itself from competitors by reducing principal balance interest calculation.

“With this approach, a portion of each repayment goes toward reducing the principal outstanding, leading to lower interest charges. Additionally, SeedFi offers the flexibility to reschedule loan repayment dates for convenience.”