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10 Leading Lendtech Brands in Nigeria and How You Can Benefit From Their Services


Just like in other part of the world, the Nigerian payment sector has continued to witness disruptions and changes through Fintech related activities.

Innovation in Fintech has helped to simplify the engagements that are not provided by the traditional financial institutions.

Most often, many small businesses and individuals need funds to expand their businesses, pay their children school fees, rent, or settle some other personal challenges.

When other means of fund raising for their businesses have been exhausted, the next alternative for most Nigerians is not the bank. It is the micro-lending technology firms or lendtech.

Through the innovation of financial services in the ecosystem, lendtech now have a significant share in the financial system.

Getting loan from the traditional banking is cumbersome. It comes with stiff processes that involve documentations and collateral.


The processes have made lending a bit difficult for the low income earners, as they lack access to lending through the banks.

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In Nigeria, there are more than 20 lendtech platform in the market that offer loan to Nigerians – both the underserved and the unbanked in the financial ecosystem.

Financial Technology Africa Report highlights the top 10 online lending apps that are giving Nigerians a simple and quick access to loan with minimal criteria.  


Branch offers loans from ₦1,000 to ₦200,000 with a range of 4 to 40 weeks.  It is one of the most reliable platforms in Nigeria because of its mode of operations. Branch interest rate rages from 15% to 34% with an equivalent monthly interest of 3% to 21% and APR of 33% to 261%, depending on your loan option.

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Borrower does not need collateral and would not pay late or rollover fees. Interest rates are determined by a number of factors, including lender’s repayment history and the cost of lending for Branch.

Branch has made it easy for Nigerians to access loan from anywhere in the country without physical engagement and collateral.


Formally Paylater, Carbon has expanded its operations in Nigeria with easy and quick access to loan. The lending platform is an android-based quick loans and lending platform in Nigeria. Users will only be charged N100 validation fee when registering.

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The more you a borrower repays the loans he gets on time, the higher the credit limit the borrower get.


Loan seekers would need to provide bank details and BVN that are valid. The lending app is available on Google playstore.

The interest rate ranges from 5% to 30% and loan tenure ranges from 15 days to 6 months. To can repay loans through your debit card, Quickteller platform or direct transfer from your bank account.


RenMoney is another leading online lending platform in Nigeria because of its flexibility rates.


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This lendtech firm offers loans up to N4 million, which is the highest in the country.

You can repay loan conveniently over 12 months, and this flexible repayment pattern is specially designed to meet your needs. The firm also has investments platform with up to 17% per annum.


Its annual interest rate stands at 45.5%. This is high compared with Branch.


KiaKia, which means fast in the local parlance, is a digital money lender for business and personal loans. It utilises psychometrics, big-data, machine learning and digital forensics for its proprietary credit scoring and credit risk assessment algorithm to provide direct and peered personal and business loans to millions of individuals and SMEs without credit information.

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Account creation and loan application are swift and it is available 24/7.


QuickCheck is one of the top rated lending platforms in Nigeria. It uses mobile technology to enable individuals and small businesses gain access to financial credit.

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Users can access quick and hassle-free loans of up to N30,000 without collateral for a duration of either 15 or 30 days.


Zedvance offers up to N5 million loans, and a flexible repayment period of up to 18 months. It provides financial needs to individual and businesses with a flexible and convenient service.

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The interest rate starts from 7.5% and loan tenure ranges from 1 month to 12 months. The company accept loan repayment through debit card, bank deposit or cheques.

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kwikmoney provides loans for small business or personal loan to settle pressing emergency needs.

The lendtech offers loans from N10,000 to N200,000 direct to lender’s bank account.

The loan tenor is 14-30 days with interest rates from 10%.

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As users take loans and pay back, the system trusts more, offering higher amounts each time. Kwikmoney operates a no collateral, no documentation policy.

On Kwik Cash, one of its products, users can get a loan as high as N15,000 at 15% interest rate for 15 days.

Kwikmoney is in partnership with the banks, mobile network operators, and technology companies on a mission to make personal banking services convenient and accessible to all Nigerians.


Loan defaulters on the platform are penalised with additional charges.


C24 is a microfinance institution that was established with the sole mission of creating an avenue for people to actualize opportunities around them by helping them access cash loans when they need it.

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C24 platform is widely considered to be fast, simple and efficient.


Lydia is an online platform that provides businesses access to finance. The platform offers small and medium and personal loans and unsecured loans of N100,000 to N3 million.

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Lydia uses technology and algorithms access to the risk before granting the loan. It allows the company to offer financial product to the customers at a low cost.

Fint Loan

Fint helps to match lenders (individuals seeking loan) with creditworthy borrowers for a competitive return and at an attractive interest rate.

The quick loan platform offers interest rate based on risk score – using a numerical expression based on a level analysis of a person’s information.

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Fint’s interest rates range from 3% to 5% per month depending on the borrowers’ risks score.


Fint charges the borrower two fees that are both one-time payments. The first is a verification fee N3,000 and the second is a closing 8% fee.  The closing fee is paid before disbursement of the fully-funded loan. In addition, a transfer fee, 1.8% + N100, is passed on to the borrower.


The interest rate of the lendtech firms is relatively high; as such the concerned regulator should look into this in order to attract more low income earners.