Salad Africa, a fintech that provides embedded lending infrastructure to B2B marketplaces and technology-enabled SMEs, has announced a strategic partnership with Glovo, a multi-category app that connects users with businesses and riders in Nigeria.
Through this partnership, Salad Africa will power a first-of-its-kind SME financing program designed to provide eligible Glovo partners with access to working capital – at better rates and more accessible terms than traditional banks.
The goal is to help businesses scale faster, launch new products, and drive increased revenue – all within the Glovo ecosystem.
Qualified partners on the Glovo platform will be able to apply for loans ranging from ₦50,000 to over ₦100 million, with eligibility and credit decisions powered by real-time sales data from the Glovo app.
To qualify, merchants must have been active on Glovo for at least three months and meet the set performance and operational criteria.
This data-driven approach ensures faster, fairer, and more accurate lending decisions.
Once eligible partners are identified, they will receive a notification with Know Your Business (KYB) requirements and application steps.
Upon KYB completion and approval, funds will be disbursed directly, with repayments made seamlessly as a percentage of future sales; processed entirely through the Glovo platform.
Unlike standard financial institutions, this initiative offers loans without the need for collateral, using real-time sales data from the Glovo app to assess eligibility and creditworthiness.
This program falls under the umbrella of Glovo Local, Glovo’s global program dedicated to empowering small and medium-sized businesses (SMEs) to thrive in the digital economy.
Through Glovo Local, SMEs who make up 90% of shops and restaurants on the Glovo app across 23 countries, get access to tools and support such as marketing, order management, visibility on the platform, training, and seamless financial support.
As the first industry player in Europe, Africa, and Central Asia to support SMEs in this way, Glovo is driving growth, catalyzing local economies, and promoting sustainable, inclusive businesses.
The partnership between Glovo and Salad Africa represents a major step forward in supporting small businesses with the resources they need to grow sustainably and efficiently.
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Commenting on the partnership, Kolawole Adeniyi, head of Commercial, Glovo Nigeria said,
“At Glovo, we’re constantly looking for ways to empower our partners and support their growth journeys. Through this initiative, we’re providing access to much-needed working capital directly within our ecosystem, making it easier and faster for our partners to scale. This partnership with Salad Africa is a game-changer—it ensures our merchants can unlock new opportunities without traditional barriers.”
Chikodi Ukaiwe, chief executive officer at Salad Africa said,
“Supporting local businesses is at the heart of everything we do at Salad, so we’re thrilled to partner with Glovo to provide small and medium sized restaurants with fast, fit for purpose financing to meet growing demand and scale their operations. Embedded finance is unlocking new channels of credit that simply weren’t available before, and we’re proud to be making access to capital more seamless and timely for Glovo’s network of restaurants.”
Glovo is currently the only player in the industry offering this type of financing to SMEs, reinforcing its commitment to being a growth partner for local businesses.
By removing the common roadblocks SMEs face in accessing traditional finance, Glovo and Salad Africa are driving financial inclusion, catalyzing local economies, and supporting the digital transition of businesses across Nigeria.
Since inception, Salad Africa has recorded $1.5M in credit unlocked value and helped about 1,500 SMEs to scale their business operations sustainably.
Salad is on a mission to make financing more accessible for SMBs in Africa.
