“Can a BNPL-first fintech become the consumer financial operating system for Africa's rising middle class?”
Founded 2018 in Lagos as a credit-card / BNPL provider for African consumers, CredPal joined YC W19 and raised $15M in 2022 to scale its pay-in-4 and installment products across the continent. The company has since expanded from pure BNPL into a broader consumer financial services suite — savings, credit builder, investments and the CredPal Card — positioning itself as Africa's 'financial command center'. It now operates under a CBN-licensed microfinance bank (Dawakin Kudu Microfinance Bank Ltd), enabling it to self-issue credit and hold customer deposits.
CredPal (YC W19) discloses Dawakin Kudu Microfinance Bank Ltd (in-house) as its banking provider, with Dawakin Kudu Microfinance Bank Ltd as its sponsor bank, according to the Embedded Finance Index 2026.
CredPal (YC W19) does not disclose a bank charter of its own; its banking services are provided through Dawakin Kudu Microfinance Bank Ltd.
CredPal (YC W19) processes payments through CredPal Pay (self-operated).
CredPal (YC W19)'s lending and capital products are provided by CredPal (in-house).
The Embedded Finance Index 2026 maps 4 layers in CredPal (YC W19)'s stack: Payments / PSP (CredPal Pay (self-operated)); Banking / BaaS (Dawakin Kudu Microfinance Bank Ltd (in-house)); Lending (CredPal (in-house), Pay in 4 (interest-free), Pay in 30 days, Installments up to 12 months and 2 others); Sponsor bank (Dawakin Kudu Microfinance Bank Ltd).
CredPal (YC W19) was founded by Mofehintolu Olaogun and is founded in 2018, headquartered in Lagos, Nigeria.
CredPal (YC W19) has raised $18.5M in total (latest round: Series A + debt, 2022 ($15M)).
Get a read on where your own stack stands against CredPal (YC W19) and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.