Connect with us

Finance

FairMoney MFB has disbursed over N71 billion in loans so far in 2021

FairMoney MFB, Nigeria’s leading digital bank holds inaugural investors conference

Published

on

FairMoney MFB Investment conference (1)
L-r: Patryk Kalisz, head of Controlling and Reporting, FairMoney; Siddharth Kulkarni, executive sponsor, Lending, Nigeria at FairMoney; Nicolas Berthozat, co-Founder FairMoney and Juris Rieksts-Riekstinš, head of Risk, Nigeria, at the FairMoney investor’s conference.

Nigeria’s leading digital bank, FairMoney Microfinance Bank, held its investor’s conference recently at the Federal Palace Hotel, Lagos, Nigeria.

The event brought together fund managers, HNI’s, investors, fintech aggregators and Pension Fund Administrators to discuss the financial technology landscape in Nigeria, particularly its sustainability in years to come.

FairMoney MFB in Nigeria (2)

L-r: Seun Onayiga, head Investment Banking, West Africa – Renaissance Capital; Nichole Yembra, Founder and Managing Partner – Chrysalis Capital; Laurin Hainy, CEO and Co- Founder of FairMoney; Sonnie Ayere, GMD/CEO – DLM Capital Group; Bayo Rotimi, MD/CEO – Greenwich Merchant Bank and Yaw Mante, Head, Finance – FairMoney, at the FairMoney investor’s conference.

The digital bank highlighted that they have disbursed over N71 billion in loans so far in 2021, more than double the amount in 2020 with a bid to drive financial inclusion in Nigeria.

FairMoney MFB in Nigeria (1)

L-r: Oluwatomide Oluwole, Finance Manager, FairMoney; Henry Obiekea, VP Capital Markets, FairMoney; Yaw Mante, Head, Finance – FairMoney and James Edeh, Head, Compliance, FairMoney, at the FairMoney investor’s conference.

In his welcome address, Laurin Hainy, the CEO and co-Founder of FairMoney, highlighted that they successfully raised an equity round of over $40 million in April 2021, launched a N10 Billion private note program, received a microfinance bank licence from the CBN and obtained an Investment Grade Rating from Global Credit Ratings (GCR), all in one year.

Laurin Hainy

Laurin Hainy, the CEO and co-Founder of FairMoney, during his presentation

He further emphasized that “the conference was conceived to provide an avenue for capital market operators, investors, fintech players, and regulators to converge on financial inclusion solutions that drive growth and deep focus on our customers.”

Fairmoney co-founders

L-r: Laurin Hainy, CEO and Co-Founder of FairMoney and Nicolas Berthozat, Co- Founder FairMoney, both at the FairMoney investor’s conference.

Another highlight of the event was a panel session with industry experts like Sonnie Ayere; GMD/CEO – DLM Capital Group, Bayo Rotimi; MD/CEO – Greenwich Merchant Bank, Nichole Yembra; Founder and Managing Partner – Chrysalis Capital, Yaw Mante; Head, Finance – FairMoney as panelist.

The session was moderated by Seun Onayiga; Head Investment Banking, West Africa – Renaissance Capital.

FairMoney was incorporated in 2017 with operations in Nigeria and India. In the past 4 years of operation, the MFB has grown its customer base to over 5 million users, and 1.9 million bank accounts.

Henry Obiekea,

Henry Obiekea, VP Capital Markets, FairMoney

As a digital consumer & SME lender, and provider of financial services in Nigeria, Fairmoney MFB has created a product that offers near-instant digital loans 24/7 directly via its mobile app.

The primary digital product offering covers loans in tenor from 15-days to 18 months to MSMEs and consumers. It’s end-to-end application to loan offer process takes 5 minutes and is fully digital with no physical touchpoints.

Other photos from the event:

Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement
Advertisement

Facebook