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Fido

“Can an AI-scoring digital lender become the primary financial platform for Africa's unbanked by using mobile-money and behavioural data to underwrite credit and then layer on payments and savings?”

Founded2015
HQAccra, Ghana
FoundersNadav Topolski, Tomer Edry, Nir Zepkowitz
Total raised$68M
Latest roundSeries B, 2024
IndustryFintech / Lending
The story

Founded in 2015 in Ghana by Israeli entrepreneurs, Fido started as a pure digital micro-lender scoring applicants on mobile money and airtime data rather than traditional credit history. By 2022 it began broadening beyond credit into payments (bill pay, airtime top-up) and savings, positioning itself as a fuller financial platform for Africa's underbanked. The 2024 Series B with development-finance institution backers signals a push into East and Southern Africa and a deeper AI-scoring-led financial-inclusion thesis.

Last 12 months
2024-09
Product timeline
2015
Launched in Ghana by three Israeli entrepreneurs offering instant micro-loans scored on mobile money and airtime usage data.· lending
2022
Raised $30M Series A led by Fortissimo Capital; announced plans to add savings and payment products and expand to Uganda.· lending
2022
Expanded into Uganda as second market.· pivot
2023
Introduced Fido Score — an AI-powered credit risk model for customers with no formal financial track record.· lending
2024
Raised $30M Series B (equity + debt) led by BlueOrchard and FMO to expand across East and Southern Africa.· lending
2024
Launched payments products (airtime top-up, data bundles, bill payments) via Hubtel/FAWC partnership embedded in the Fido App.· banking
Regulated entities
1
regulatory licence held by Fido
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Fido’s embedded-finance stack
Lending
Fido Credit (personal instant micro-loan)FidoBiz Business LoanBuy Now Pay Later (marketplace)
Accounting gap: minor

Fido — frequently asked

Who founded Fido?

Fido was founded by Nadav Topolski, Tomer Edry and Nir Zepkowitz and is founded in 2015, headquartered in Accra, Ghana.

How much funding has Fido raised?

Fido has raised $68M in total (latest round: Series B, 2024).

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