Fast Credit
Fast Credit is a Nigeria-based private lender providing credit access and single-digit financing to Micro, Small and Medium Enterprises (MSMEs). Founded in 2014 and headquartered in Ikeja, the company extends affordable credit via institutional partnerships, including a $2 billion EDC-backed facility.
- Company typePrivate
- Founded2014
- HeadquartersIkeja, Nigeria
- Headcount101–250
- GTM typeB2B
- OfferingServices
Fast Credit firmographics
Firmographics- Name
- Fast Credit
- Legal name
- Fast Credit Finance Company Limited
- Website
- https://fastcredit-ng.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Fast Credit is a Nigeria-based private lender providing credit access and single-digit financing to Micro, Small and Medium Enterprises (MSMEs). Founded in 2014 and headquartered in Ikeja, the company extends affordable credit via institutional partnerships, including a $2 billion EDC-backed facility.
- Ownership category
- akta.pro rank
Fast Credit industry classification
Industry- Product category
- MSME Lending
- NAICS
- Activities Related to Credit Intermediation (5223), Credit Intermediation and Related Activities (522)
- SIC
- Loan Brokers (6163), Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)
- akta.pro primary industry
- Supply Chain Finance (Trade Credit, PO/Inventory Financing) (FSAKAGAE)
- akta.pro secondary industry
- Short-Term Credit Broking & Lead Generation (FSAKAMAN)
Keywords
Where Fast Credit is headquartered
LocationHeadquarters
- HQ city
- Ikeja
- HQ country
- Nigeria
- HQ region
- Africa
Offices1 record
Markets served
Fast Credit business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- MSME Lending and Credit Access: FastCredit provides credit access and financing solutions to Micro, Small and Medium Enterprises. The company has secured $2 billion in credit access through partnership with EDC, indicating a lending/credit facilitation model targeting underserved MSMEs with single-digit financing rates.
Go-to-market motion1 record
Fast Credit product offering
Product offeringCore offering
Fast Credit is a Nigerian financial institution that provides credit access and financing solutions to Micro, Small and Medium Enterprises (MSMEs). The company operates a single-digit financing program, made possible through a $2 billion credit access partnership with EDC (Entrepreneurship Development Centre), aimed at delivering affordable credit to underserved small businesses in Nigeria.
Differentiator
Problem solved
Functional benefit
Products and services
- MSME Credit Access Services
Quantifiable outcome
- $2 billion in credit access secured for MSMEs
Companies that use Fast Credit
Customer profileSegments1 record
Ideal customer profiles1 record
Fast Credit technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Fast Credit partnerships and signals
Strategic signalScale indicators2 records
Fast Credit competitors and assessment
Company assessmentDirect peers
- FairMoney: Nigerian digital lender offering personal and MSME loans through a mobile app. Direct competitor in the Nigerian MSME credit space with overlapping customer segments and similar risk profiles.
- Carbon (formerly Paylater): Nigerian digital lending platform providing credit to individuals and small businesses. Closely comparable in target market, product category, and Nigerian operating environment.
- Renmoney: Nigerian consumer and small business lender offering salary-backed and SME loans. Comparable business model, customer base, and Nigerian regulatory environment as Fast Credit.
- Branch International: Africa-focused digital lender operating in Nigeria, Kenya, and other emerging markets, offering micro and SME loans via mobile. Comparable model targeting underserved borrowers with limited credit history.
- Tala: Mobile-based digital lender serving underbanked consumers and small businesses across emerging markets including parts of Africa. Comparable in serving thin-file borrowers via alternative-data underwriting.
Emerging players
- Lidya: African SME lending platform focused on providing working capital to small businesses across multiple African markets. Comparable MSME customer segment and emerging-market lending model.
- Kuda Bank: Nigerian digital bank offering consumer and small business banking products including lending. Competes for overlapping customer segments through a digital-first, mobile-led proposition.
- TeamApt (now Moniepoint): Nigerian fintech providing payments, banking, and credit services to MSMEs and agents. Comparable customer base (Nigerian MSMEs) with an increasingly overlapping credit offering.
Broad incumbents
- Access Bank: One of Nigeria's largest commercial banks with an established MSME lending portfolio. Competes for the same MSME borrowers but operates as a full-service depository institution at materially larger scale.
- Guaranty Trust Bank (GTBank): Major Nigerian commercial bank with MSME and consumer lending products. Comparable end-customer base but vastly larger balance sheet and broader product suite.
Market position
Customer concentration
Fast Credit social profiles
Digital presenceFast Credit financial estimates
Financial estimateRevenue estimate
Valuation estimate
Fast Credit leadership team
Management profileNumber of profiles
Profiles1 record
Fast Credit funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Fast Credit M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Fast Credit
What does Fast Credit do?
Fast Credit is a Nigerian financial institution that provides credit access and financing solutions to Micro, Small and Medium Enterprises (MSMEs). The company operates a single-digit financing program, made possible through a $2 billion credit access partnership with EDC (Entrepreneurship Development Centre), aimed at delivering affordable credit to underserved small businesses in Nigeria.
When was Fast Credit founded?
Fast Credit was founded in 2014. It employs 101 to 250 people.
Where is Fast Credit based?
Fast Credit is headquartered in Ikeja, Nigeria, in the Africa region.
How does Fast Credit make money?
One revenue line is on record: MSME Lending and Credit Access.
Who are Fast Credit's main competitors?
Direct peers on record are FairMoney, Carbon (formerly Paylater), Renmoney, Branch International and Tala. Emerging players are Lidya, Kuda Bank and TeamApt (now Moniepoint). Broad incumbents are Access Bank and Guaranty Trust Bank (GTBank).
Does Fast Credit have an API?
No public API is recorded for Fast Credit.
What industry is Fast Credit in?
Fast Credit's product category is MSME Lending. Its primary akta.pro industry code is FSAKAGAE, Supply Chain Finance (Trade Credit, PO/Inventory Financing), with a secondary code of FSAKAMAN, Short-Term Credit Broking & Lead Generation. Its NAICS code is 5223 and its SIC code is 6163.