The cloud-based credit-as-a-service platform Migo aims to bridge the credit gap in Africa through machine learning and data analytics.
Migo (formerly Mines.io) is an African fintech company that offers a cloud-based platform providing credit-as-a-service to businesses, allowing them to extend credit to their customers without the traditional complexities associated with lending. Founded in 2014, Migo aims to bridge the credit gap by leveraging advanced data analytics and machine learning technologies.
Headquarters: Lagos, Nigeria
Founders: Ekechi Nwokah and Kunle Olukotun
Industry: Fintech, Financial Services, Lending
What They Offer
Credit-as-a-Service: Migo enables businesses to offer credit services to their customers, providing an API-driven platform that integrates seamlessly with their existing systems.
Data Analytics: The company leverages advanced data analytics and machine learning algorithms to assess creditworthiness and manage risk, allowing businesses to extend credit responsibly.
Flexible Repayment: Migo offers flexible repayment options, making it easier for customers to access and manage credit.
Financial Inclusion: The platform helps businesses reach underserved markets and provide credit to customers who may not have access to traditional financial services.
Migo has successfully partnered with several businesses across various industries, enabling them to offer credit services to their customers and drive growth. The company has raised $37.2M in funding from investors such as The Rise Fund and Velocity Capital. Migo has also expanded its operations beyond Nigeria to other countries in Africa, notably entering the Brazilian market in 2019.
Carbon, Branch, and other digital lending platforms in the African market.