How CreditChek Helps in Reducing Bad Loans in Africa


Creditchek is a newly launched startup in Africa that focuses on helping Africans reduce bad loans, the startup recently secured a pre-seed round to help grow the brand and achieve its aim.

CreditChek creates powerful Identity, credit, and verification services using structured, user-permission data from multiple sources, enabling fintech, banks, microfinance institutions, retail businesses, and mobile money operators to build better financial products for the underserved.

Good idea right?

We all can agree that startups that leverage on lending users money in Nigeria and Africa have lost more than Four (4) Billion dollars and is this due to an average user not being able to pay back the loan?

Through historical profiling, these businesses will be able to avoid loan stacking and determine appropriate financing.

The company has its headquarters in Lagos, Nigeria.

Creditchek offers various products like:

  • Credit Insight
  • Income Insight
  • Identity Check
  • Radar

Credit Insight

Credit insight provides easy access to historical credit data from various sources, including credit bureaus, to provide insight into the credit status of your customers.

Income Insight

Income Insights provides digital loan companies with easy access to historical credit data from various sources, including credit bureaus, in order to provide insight into their customers’ credit status.

Identity Check

In real-time, identity checks reveal the true identity and location of potential borrowers.


Radar enables these lending institutions to easily access other NUBAN bank accounts linked to a borrower’s mobile number or BVN in order to assess all account statuses.

Also Read:   Fintech Startup, Changera Provides Features Africans Need Right Now for Foreign Transactions

Creditchek is an infrastructure, which necessitates connecting to or being connected to multiple systems.

Creditchek has onboarded over 60 businesses and processed over 5,000 API calls since changing its business model and relaunching a B2B model earlier this year.

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Written by Ayorinde Ayodeji

I'm Ayorinde Ayodeji known as Geek Deelino a content creator, Product Designer with 4 years of experience. I love writing when I'm free and relaxed.

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