Fast Credit Limited
“Can a CBN-licensed finance company profitably extend micro-credit to Nigerians excluded from traditional banking?”
Founded2014
HQIkeja, Lagos, Nigeria
Total raised$3.7M
IndustryFintech / Lending
The story
Fast Credit Limited (FCL) is a Nigerian finance company founded in 2014 and licensed by the Central Bank of Nigeria to provide micro-lending to individuals and small businesses outside the traditional banking system. It also raises wholesale funds through investment notes. It is a separate entity from FC Capital Limited (UK), a London-based pawnbroking / secured-lending business trading as 'Fast Credit'.
Last 12 months
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Product timeline
2014
Fast Credit Limited established in Nigeria under CBN regulations to provide personal, business, and emergency loans.· lending
Regulated entities
1
regulatory licence held by Fast Credit Limited
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Fast Credit Limited’s embedded-finance stack
Lending
Fast Credit Limited (in-house)Personal loansBusiness loansEmergency loansInvestment notes (wholesale funding)
Accounting gap: none