CreditChek, a rising African credit assessment platform, has completed the acquisition of U.S.-based underwriting startup CreditCliq, marking a significant step in expanding financial access for African immigrants. The acquisition, though undisclosed in value, enables CreditChek to support global lenders in evaluating the creditworthiness of Africans living abroad. The integration of both platforms is set to address one of the most persistent barriers to immigrant financial inclusion: the inability to transfer credit histories across borders.
Breaking the Credit Border Barrier
African immigrants often face substantial difficulties accessing credit in new countries due to the absence of verifiable credit records. By acquiring CreditCliq, CreditChek positions itself to bridge this gap, offering a way for financial institutions in the U.S., UK, and Canada to evaluate African applicants more effectively. CEO Kingsley Ibe noted that the acquisition directly supports the company's mission to make global credit access seamless for Africans, regardless of where they live.
The Role of CreditCliq in the Global Equation
Before joining forces with CreditChek, CreditCliq built technology that enabled U.S. lenders to underwrite immigrants from countries like the Philippines and Mexico. Founded in 2022 by Angel Idusuyi, Eve Idusuyi, and Eniola Osabiya, the startup was inspired by their own challenges navigating cross-border financial systems. The founders have expressed confidence in CreditChek’s ability to scale their mission, describing the acquisition as a “passing of the baton” to a team with shared values and the resources to expand globally.
Technology Integration and Team Retention
With the acquisition complete, CreditChek will integrate CreditCliq’s standardised credit scoring engine into its system. This move will allow the conversion of African credit histories into formats recognised by North American lenders, overcoming key compliance and compatibility issues. Importantly, CreditCliq’s engineering team will remain onboard to drive the platform’s international scalability.
Accelerating Credit Decisions with Speed and Precision
CreditChek’s platform leverages partnerships with African credit bureaus to offer tools like Credit Insights and Income Insights, which speed up credit assessments from 20 minutes to under 90 seconds. These tools enable banks and lenders to make faster, more accurate decisions using comprehensive financial data. Pricing remains accessible, with fees ranging between $0.50 and $2 per search or API call, helping scale its use across diverse markets.
Expansion and Fundraising Momentum
Since its launch in 2022, CreditChek has facilitated over 300,000 verifications and enabled more than $30 million in loan approvals. Building on its initial $240,000 raise, the company is now pursuing a pre-seed extension round to fuel its expansion into at least 10 more African markets, including Rwanda, Uganda, Zimbabwe, South Africa, and Malawi. This growth aligns with data from investor Baobab Network, which forecasts that 147 million Africans will emigrate by 2050, underscoring the urgency of scalable credit infrastructure.
Financial Trajectory and Exclusive Deals
CreditChek has experienced a 600% increase in revenue over the past 18 months and is targeting profitability by the fourth quarter of 2025. As part of its growth strategy, it has secured a five-year exclusive data coverage agreement with Nigerian fintech CredPal. These developments signal strong investor confidence and a robust foundation for long-term sustainability.
The acquisition of CreditCliq marks a pivotal moment for CreditChek as it expands from a regional player into a global enabler of credit inclusion. By combining technology, strategic partnerships, and deep local knowledge, CreditChek is redefining how immigrants prove their creditworthiness abroad. As the company continues to grow, its mission to democratise credit access for Africans across continents is set to reshape financial ecosystems worldwide.
Source : The condia