Investors include SoftBank and Unicorn Growth, as well as Samos Ventures and Precursor.
Launched in 2020, Credrails is building Open Finance rails for Africa, connecting bank, mobile money, and offline data into a single API that it then exposes to other businesses to build a variety of use cases, such as lending analytics, KYC, and KYB.
The startup already has physical operations in Nigeria and has access to 250 million accounts in 33 countries. It is working towards connecting all of Africa.
Credrails has seen 400% month-on-month growth since it launched in August 2020, and plans to be active in five markets by the end of 2022.
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