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Buy Now Pay Later doing well in Nigeria

Nigeria’s BNPL Startup, CredPal, Raises $15m to Expand Services Across Africa

Young people do not like paying interest. And innovators have taken note by inventing Buy Now Pay Later, a new business model where bills can be spread over time with or without interest penalty, depending on the flavour. Every company I know in this space in Nigeria is doing just fine. CredPal extends the party with a $15 million equity and debt raise. If this trajectory continues, watch out for a major disintermediation in the traditional banking ordinance.

Congrats to CredPal.