Fintech company Fido has secured $5.5 million in debt financing from the Regional MSME Investment Fund for Sub-Saharan Africa, managed by Swiss impact investor Symbiotics, according to official statements. The funding will support expansion of its digital lending operations in Ghana and Uganda.
Founded in 2014, Fido uses its proprietary AI-based Fido Score to assess creditworthiness through alternative data such as mobile usage and transaction behavior. The company reports having disbursed hundreds of millions of dollars to over one million users. CEO Alon Eitan said the capital will strengthen digital infrastructure and financial inclusion efforts.
