Kenyan Mobile FinTech innovator signs $1.1 Million USD agreement with Creditinfo Group

Alternative Circle, a Kenyan Mobile FinTech innovator signed an Ksh 110 million agreement with Creditinfo Group, an international credit-risk management company.

“The seed capital will see Alternative Circle gain a wider geographical footprint, which will in turn open doors for greater opportunities for the mobile solutions innovator,” according to a press statement. “For Creditinfo Group, the strategic investment will enable it to create data that was unavailable in the market before and thus better serve the lenders in facilitating access to finance, especially in the emerging markets.”

Alternative Circle is also set to launch its mobile-based credit facility app – Shika in July, it said, adding that it “will benefit from extensive Creditinfo Group expertise in classic and alternative credit risk management. This will enable it to lower the barriers to a wider population to get access to credit facilities.

“Partnering with Creditinfo Group will not only redefine the way risk is evaluated in Kenya and the world but it will also bring on to the credit-ecosystem several SMEs that can now achieve their potential,” said Kevin Mutiso the CEO of Alternative Circle in a press statement.