Periculum, a Nigerian fintech technology company just launched its Nigerian operations with the intent to expand the credit bracket across the country. The company shares that domestic credit is key for consistent economic growth across developing countries where the Nigerian credit market is lower when compared to similar countries of a similar size.
The Canadian startup is focused on improving financial inclusion across emerging markets through automated credit that will close the consumer finance gap while helping financial institutions provide credit facilities to the financially excluded by making smarter decisions.
Speaking at the launch, the founder/CEO Mr. Michael Temitope Collins pointed out that “Africa needs domestic credit to stimulate real economic growth.” In addition to bank-to-business credit, it also offers digital lending for short-term credit including buy-now-pay-later schemes. The company has further announced the appointment of Mr. Damilola Aluedeas its Managing Director.
The company’s private roadmap and services include SMS data aggregation and analysis, credit model development, financial data analysis, and data analytic solutions. Periculum also helps customers solve detection of fraud, lenders offering customer segmentation and customer lifecycle value, insights for retailers and ATM operators, and several other benefits.
Founded in 2019, the company delivers services to customers across Canada, Nigeria with plans to move into new markets such as Kenya, Ghana, and Egypt before 2022.