Credrails, Inc.
Status: Investment in contracting phaseWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our prospective customer?
Credrails Inc. is an early-stage FinTech start-up active in Nigeria and Kenya. The Company’s core product is a software tool that allows banks, Microfinance Institutions (MFIs), FinTech and insurance companies as well as Corporates and Small and Medium Enterprises (SMEs) to automatically reconcile financial and customer data across banks, mobile money and offline channels.
What is our funding objective?
An equity investment is contemplated that will support the Company in scaling up its operations.
Why do we want to fund this investment?
The Company fits the mandate of FMO Ventures Program of supporting early-stage tech-enabled businesses that leverage innovative solutions. The Company will benefit from introduction to FMO’s network of Financial Institutions , Micro Finance Institutions and FinTechs across Africa as well as potential Series A+ investors.
What is the Environmental and Social categorization rationale?
This is a E&S category C investment since it's a fintech company with no physical operations (e.g. warehouses, large workforce) and therefore E&S risks are deemed low.
- Region
- Africa
- Country
- Kenya
- Sector
- Financial Institutions
- Publication date
- 4/12/2024
- Deadline for feedback
- 4/27/2024
- Total FMO financing
- USD 2.00 MLN
- Funding
- Ventures Program Africa EurNb
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C