Newedge Finance
“Can offline device financing plus mobile nano-lending unlock Nigeria's financially excluded mass market?”
Founded2019
HQIkeja, Lagos, Nigeria
IndustryFintech / Lending
The story
Newedge Finance is a Nigerian CBN-licensed finance company founded in 2019 focused on financial inclusion lending. Its two flagship products are Easybuy (offline device financing — mobile phone loans via 2,000+ physical retail stores and salespeople) and Palmcredit (mobile-app-based nano and personal loans). The company is disbursing 3,000+ loans/day and has acquired 500,000+ customers, positioning itself as a mass-market consumer lender to Nigeria's financially underserved segment.
Last 12 months
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Product timeline
2019
Newedge Finance Limited founded and licensed by the Central Bank of Nigeria as a Finance Company.· banking
2019
Launched Easybuy — offline consumer device financing product for mobile phones through 2,000+ stores.· lending
2020
Operated Palmcredit — mobile app for nano/personal loans in Nigeria.· lending
Regulated entities
1
regulatory licence held by Newedge Finance
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Newedge Finance’s embedded-finance stack
Lending
Newedge Finance Limited (in-house)Easybuy (offline mobile phone device financing, up to ₦50,000, 91-180 days, 6-9% monthly interest)Palmcredit (mobile app nano/personal loans)Large loan products for low- to middle-income markets
Accounting gap: none