How much did Cred Pal raise?

Cred Pal raised $15 Million in a funding round on March 29, 2022.

Nigeria’s Credpal Secures $15M In Debt And Equity To Scale Its Bnpl Product Across Africa

PRIVATEMar 29, 2022

Amount Raised

$15 Million

Round Type

Venture

NigeriaOtherFinancial ServicesSoftwareCommerce And ShoppingPayments

Description

The adoption of buy now, pay later (BNPL) in Nigeria as a payment option both online and at the point of sale is expected to record a CAGR of 20% from 2021 to 2028, per this report.

Quick answer

Cred Pal raised $15 Million in a funding round, dated March 29, 2022. Cred Pal is based in Nigeria.

How much did Cred Pal raise?: Cred Pal raised $15 Million in a funding round on March 29, 2022.
What does Cred Pal do?: Olaogun said in instances where consumers pay back before two months, they might not pay any interest — which is covered by fees the company charges merchants.
Where is Cred Pal based and how big is it?: Cred Pal is based in Nigeria.

Source: Fundz verified event record.

Who else raised in Financial Services and Commerce And Shopping around the same time

Companies in the same sectors as Cred Pal that raised within 45 days of this round, from Fundz verified event records.

Liquid MarketPlace raised $10M (Funding Round) on April 5, 2022.
Token.io raised $40M (Funding Round) on May 12, 2022.
Conjura raised $16M (Series A) on April 26, 2022.
Fathom raised an undisclosed amount on April 25, 2022.
InsurePay raised an undisclosed amount (Series B) on April 12, 2022.
Swoosh Transfer raised an undisclosed amount (Funding Round) on April 8, 2022.

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Company Information

Company

Cred Pal

Location

Nigeria

About

Olaogun said in instances where consumers pay back before two months, they might not pay any interest — which is covered by fees the company charges merchants. The platform serves as a point-of-sale infrastructure that enables BNPL through a credit payment link, checkout plugin, QR codes, and a transaction management system. Nigeria’s ThankUCash secures $5.3M to build infrastructure for cash back, deals and BNPL servicesAs CredPal looks to expand both product-wise and geographically, the company said part of the new investment will also help it secure a partnership with telecom operator Airtel Nigeria to allow low to middle-income earners to purchase smartphones in instalments. Speaking of merchants, CredPal has 20,000 merchant sign ups; however, it has onboarded over 4,000 with only 600 being monthly active merchants. But becoming a market leader in Nigeria or Africa isn’t CredPal’s for the taking.

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Cred Pal raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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