Digital credit provider Mines has raised $13m in a series A funding round led by The Rise Fund. Mines CEO Ekechi Nwokah said the company aims to help customers without a smartphone get access to credit, and scours high-volume data such as phone records and bank transactions in real time, to assess credit risk. The company has “hardened” its proprietary technology in Nigeria where it has been used by over one million customers since launching in 2017. “Mobile is becoming more important than ever for financial services companies because of its ability to connect people with their finances,” said Nwokeh.
Digital credit provider Mines has raised $13m in a series A funding round led by The Rise Fund. Mines CEO Ekechi Nwokah said the company aims to help customers without a smartphone get access to credit, and scours high-volume data such as phone records and bank transactions in real time, to assess credit risk. “Mobile is becoming more important than ever for financial services companies because of its ability to connect people with their finances,” said Nwokeh.