Nigerian fintech CredPal has launched Atom, a digital investment platform. Atom gives African investors access to Nigerian stocks, US-listed securities, and digital assets. The company is a buy now, pay later provider that says its lending platform has facilitated more than $100 million in credit disbursements.
Two products
The service is split into Atom Retail and Atom Business. Atom Retail gives individuals access to more than 300 digital assets. Atom Business offers APIs and white-label infrastructure to fintechs, banks, wealth managers, and investment platforms.
Company background
CredPal was founded in 2018 and joined Y Combinator in 2019. It raised $15 million in debt and equity in 2022. FCMB participated in the debt portion of that round.
Secured lending plans
CredPal plans to offer loans secured by investments held on Atom. A market drop could reduce collateral value and make recovery harder. Chief executive Fehintolu Olaogun said the company uses eligibility rules, prudent loan-to-value ratios, monitoring, and clear liquidation mechanisms.
Several platforms already offer local and international stocks and digital assets. CredPal will need to earn investor trust and demonstrate reliable trading and custody infrastructure. It must also comply with rules for the asset classes it offers.
Read more: thecondia.com