Lidya Expands into Poland and Czech Republic, Flutterwave More Than $150M
Lidya expands for small business loans into Poland and the Czech Republic. That is remarkable indeed!
Lending platform Lidya is targeting Poland and the Czech Republic for expansion after providing thousands of loans in Nigeria, seeing an opportunity in the funding gaps facing small enterprises in fast-growing European economies.
The fintech company funded by venture capital entities such as Omidyar Network and Alitheia Capital plans to disburse 1 billion euros ($1.1 billion) within the next five years to small businesses unable to get bank loans, Ercin Eksin, co-founder of Lidya, said in a phone interview. The company will seek customers especially in the agriculture, pharmaceutical, and retail sectors.
From TC Daily newsletter:
Last year, Paga, another Nigerian fintech startup, also made an expansion announcement when it raised $10 million in Series B2 funding. It said it had plans to expand into Ethiopia, Mexico, and the Philippines. Flutterwave which has relatively significant operations abroad (albeit in Africa) was recently named YCombinator's most valuable African company at a valuation of $150 million.
