CredPal (YC W19)
“Can a BNPL-first fintech become the consumer financial operating system for Africa's rising middle class?”
Founded2018
HQLagos, Nigeria
FoundersMofehintolu Olaogun
Total raised$18.5M
Latest roundSeries A + debt, 2022 ($15M)
IndustryFintech / Lending
The story
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.
Last 12 months
—
Product timeline
2018
Founded in Lagos as a BNPL provider for African consumers· pivot
2019
Y Combinator Winter 2019 batch· banking
2022
Raised $15M in debt and equity to scale BNPL across Africa· lending
2024
Expanded into cards, credit builder, savings, and investment products under a unified 'financial command center' positioning· banking
Regulated entities
1
regulatory licence held by CredPal (YC W19)
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in CredPal (YC W19)’s embedded-finance stack
Payments / PSP
CredPal Pay (self-operated)
Banking / BaaS
in the full report
Lending
in the full report
Sponsor bank
in the full report
Accounting gap: significant
8 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.