Periculum Expands into the Nigerian Market

In its effort to have a standing in the African market, Periculum, a Canadian fintech startup has launched its services in Nigeria to help underserved markets with domestic credit. Further, the company also announced the appointment of Damilola Aluede as the new Managing Director to help with the expansion into Nigeria.

“Africa needs domestic credit to stimulate real economic growth. And this is not only bank-to-business credit; it can also be digital lending for short-term credit as well as “buy now, pay later” schemes. The absence of tech-enabled credit assessment infrastructure has limited the quality and quantity of lending and may be behind the risk premiums borrowers have to pay, and the harassment practiced by predatory lenders in countries like Nigeria. Periculum will change that. We are a top provider of data analytics and credit assessment services targeted explicitly to underserved markets. We help our customers to reduce their lengthy loan application processing times and loan default rates and offer loans to the underbanked and unbanked consumers as well as micro, small and medium-scale enterprises. With reliable, tech-enabled, credit assessment services, financial institutions can increase lending to those that need credit.”

Michael Temitope Collins, Founder and Chief Executive Officer, Periculum