Nigerian fintech CredPal has launched Atom, a digital investment platform. The product gives users access to Nigerian stocks, US securities, and digital assets. CredPal said its lending business has facilitated more than $100 million in credit disbursements.
Retail and business products
Atom Retail gives individuals access to more than 300 digital assets plus Nigerian and American stocks. Atom Business serves fintechs, banks, wealth managers, and investment platforms. It provides APIs and white-label infrastructure for market intelligence, trading, portfolio management, and asset-backed liquidity.
Company background
CredPal was founded in 2018 as a buy now, pay later provider. It lets customers pay for purchases in four installments. The company joined Y Combinator in 2019 and raised $15 million in debt and equity in 2022.
Plans for secured loans
The project plans to offer loans backed by securities held on the platform. That would let investors get liquidity without selling their positions. CredPal also plans to manage risk through eligibility rules, prudent loan-to-value ratios, continuous monitoring, and clear liquidation mechanisms.
Atom Business aims to distribute investment services through institutions that already have customers. CredPal expects growing interest in Nigerian investment opportunities to support demand. It will need to build investor trust and prove its trading and custody infrastructure.
Read more: thecondia.com