Grace Ashiru
MyCredit, a Kenyan digital lender and non-deposit-taking microfinance institution, has successfully raised USD 3 million in senior debt from an international microfinance lender. This marks a significant milestone as MyCredit celebrates a decade of operations. The transaction brings the total debt capital raised by the institution to approximately USD 13.6 million, with Noblestride Capital providing advisory services for the deal.
The new funding is designed to expand MyCredit’s lending capacity, enabling the institution to enhance credit access for a diverse range of borrowers, including micro, small, and medium-sized enterprises (MSMEs), private schools, salaried individuals, and entrepreneurs across Kenya. MyCredit’s focus on providing fast, flexible credit products to underbanked segments—many of whom are excluded from traditional banking services—remains at the core of its mission.
The capital infusion will allow MyCredit to support its responsible growth strategy, reinforcing its customer-centric lending model. This move underscores the institution’s commitment to meeting the financial needs of underserved communities while ensuring sustainable and inclusive growth within Kenya’s financial landscape.
