Nigeria’s Lendsqr Launches Its Services In Kenya

Nigerian loan management software provider, Lendsqr, has launched its lending-as-a-service platform in Kenya. The launch will enhance loan processes for banks, microfinance institutions (MFIs), and digital lenders.

The company aims to support banks, SACCOs and lenders of all sizes with tools to manage and grow their operations, ultimately helping to increase access to credit and further financial inclusion in Kenya.

“Kenya has one of the most vibrant lending sectors in Africa, but we recognize the challenges many banks, SACCOs and lenders face in managing loan portfolios and scaling their businesses,” said Adedeji Olowe, CEO of Lendsqr. “We’re excited to bring our technology to Kenya, enabling lenders to serve their communities better, reach new markets, and grow sustainably.”

Lendsqr’s platform addresses the unique needs of the Kenyan lending market by providing a comprehensive set of features that support the lending lifecycle, including loan origination, loan management, credit decisioning, data analytics, loan collection, and recovery. Offering advanced technology at one of the most affordable rates, Lendsqr allows lenders to integrate their existing core banking and ERP systems. This seamless integration supports lenders in building a cohesive, powerful infrastructure tailored to their needs. In a first-of-its-kind feature, lenders could request videos into the loan origination process, which not only reduces fraud but uses advanced AI capabilities that could use video and voice for faster and more secure underwriting.

Lendsqr now joins established loan management system providers in Kenya, such as Kwara and Presta, in providing technology to lenders in Kenya to expand the much-needed growth within the SME economic subsector.