With international expansion in mind Nigeria’s fintech giant Lidya has announced their plans to invest 1.1 billion in Czech Republic and Poland. Lidya plans to invest 1.1 billion to promote their services in Czech, Poland. Lidya founded in 2016 by Nigerian Tunde Kehinde, who also co-founded Jumia Nigeria since its establishment, the company has raised up to $10 million in funding. And as regards expansion, Lidya’s operation extends to New York, Lagos, Nigeria, Portugal, Warsaw and also Indiana USA.
Speaking about its latest launch in Czech Republic and Poland, and Lidya’s plans to invest 1.1 billion in Czech, Poland the company’s Co-Founder Ercin Eksin highlighted the company’s objective to support the SMEs through the provision of loans in order to augment them and help handle their funding challenges.
In his words “We have built a world-class business that is helping SMEs to access the credit they need to grow, often for the first time. Our technology is proven in Nigeria where we have helped thousands of businesses to create wealth and employment. Improving access to credit for SMEs is a global problem and we have ambitious international expansion plans to meet this challenge.
“Through Lidya, we have the opportunity to empower the growth of SMEs in Africa, Europe and around the world. SMEs create the most number of jobs and significantly contribute to GDP. We are on a mission to support the creation of 100 million jobs in fast-growing economies.” Eksin said.
Small Medium Enterprises (SMEs) has been credited globally in the development and growth of various economies of different countries worldwide. Economic wealth all over the world is created through enterprises and the expansion of their output. This goes to ascertain the role Lidya plays in supporting these businesses and helping grow them.
The company also announced that Tomasz Sekalski would be leading the Lidya team in Poland while Libor Vanicek will head Lidya launched services in Czech Republic. They have also made it known that in their bid to become the biggest SME digital lender in the market by the end of the year; they have disbursed more than 10,000 loans generally in Nigeria.
With such improvement by Lidya in the SME sector, this comes across as a vital development for the company and businesses they are helping.
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