CreditChek Raises Funds to Tackle Financial Exclusion for African Immigrants

CreditCheck Co-Founders (LR): Lionel Orishane and Kingsley Ibe

Nigerian fintech startup CreditChek has secured investment from the Baobab Network to advance its mission of addressing financial exclusion for African immigrants. Founded in 2022 by Kingsley Ibe and Lionel Orishane, the company previously raised $240,000 in pre-seed funding led by Atom Capital.

CreditChek’s platform connects African credit bureaus, uses open banking for income verification, and integrates government databases for secure identity checks. By enabling lenders to assess creditworthiness within five minutes, it empowers millions of African emigrants often locked out of financial services due to non-transferable credit histories.

CEO Kingsley Ibe highlighted the startup’s goal to ensure African immigrants are no longer excluded from global financial systems. Baobab Network’s investment reflects confidence in CreditChek’s innovative approach and leadership, drawing comparisons to U.S.-based Nova Credit.

With Africa’s emigrant population set to grow significantly by 2050, CreditChek’s solution positions it as a leader in bridging the gap between African credit histories and global financial inclusion. The company plans to scale its operations, offering new opportunities for millions of underserved individuals.

Source: Innovation Village