Kredo.al

What Kredo.al does

Kredo.al is the consumer-facing brand of ECFA sh.a., a Tirana-based non-bank financial institution licensed by the Bank of Albania as a Microcredit Financial Institution (License No. 42, dated 22.11.2017) and operating as part of the Eleving Consumer Finance group. The company provides short-term consumer credit and micro-business loans to Albanian citizens aged 20-70 with a valid ID, no guarantor, and minimal documentation, using an automated credit decisioning engine that delivers approvals within 15 minutes for new applicants and 5 minutes for returning customers.

The core product set comprises four lending products: a 30-day single-installment loan up to 93,000 ALL (with a 0% interest promotional first loan), a multi-installment consumer loan from 4,000 to 200,000 ALL over 3-48 months at 3.65% monthly, a Premium installment loan from 250,000 to 600,000 ALL over up to 60 months at 2.54% monthly, and a business loan for sole proprietors up to 600,000 ALL. Supporting these products are the Klubi Kredo paid loyalty program (500 ALL/month) and the Smart Eleving financial education platform. Technology infrastructure includes an online client account portal (Llogaria Online), Evrotrust electronic identification for remote onboarding, and disbursement flows through seven partner banks plus Western Union and EasyPay cash pickup points.

Revenue is generated primarily through interest income on outstanding principal across all loan tiers, supplemented by a layered fee structure: engagement commissions of 10-20% on business loan disbursements, cash disbursement commissions of 6-14%, late payment penalties (2% daily, capped at 30% of overdue per Bank of Albania regulation), early repayment commissions of 0.5-1%, branch payment commissions of 100 ALL, documentation fees of 2,000 ALL, and recurring Klubi Kredo membership fees. Distribution is omnichannel, combining physical branches across Albania, a self-serve website, phone and WhatsApp inside sales, an agent referral network, and partner pickup points, serving salaried consumers, pensioners, repeat premium borrowers, and micro-entrepreneurs in a single-country Albanian market.

Name

Kredo.al

Legal name

ECFA sh.a.

Website

https://kredo.al

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Kredo.al is the Albanian consumer-lending brand of ECFA sh.a. (Eleving Consumer Finance), a Tirana-based Bank-of-Albania-licensed microcredit institution offering fast online and branch-based payday, installment, premium, and small-business loans to Albanian consumers and sole proprietors.

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Nondepository Credit Intermediation (5222), Consumer Lending (522291), Credit Intermediation and Related Activities (522)

SIC

Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Emergency & Short-Term Installment Personal Loans (Unsecured) (FSAKAAAH)

akta.pro secondary industries

Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI), Microloans & Working Capital Loans (FSAKAGAA), Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)

Keywords

• Consumer lending
• Microcredit loans
• Online lending
• Installment loans
• Small business loans

Headquarters

HQ city

Tiranë

HQ country

Albania

HQ region

Europe

Offices23 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income - Single Installment Loans: Interest charged on single-installment (30-day) loans at 3.6% monthly rate for existing customers. First loan is offered at 0% interest under promotional 0% offer.
2. Interest Income - Installment Loans: Monthly interest charged on outstanding principal for multi-installment consumer loans at 3.65% per month. Interest decreases as principal is paid down.
3. Interest Income - Premium Loans: Monthly interest charged on outstanding principal for premium installment loans at 2.54% per month, with loan amounts up to 600,000 ALL and terms up to 60 months.
4. Interest Income - Business Loans: Monthly interest charged on outstanding principal for business loans at 1-1.5% per month depending on loan term, with engagement commission of 10-20% on disbursed amount.
5. Engagement Commission - Business Loans: Non-refundable engagement fee charged on business loan disbursements, ranging from 10% (1-6 month terms) to 20% (15-48 month terms), collected at disbursement or distributed across installments.
6. Cash Disbursement Commission: Commission charged when customers choose to receive loan proceeds as cash at branch, Western Union, or EasyPay rather than bank transfer. Rates range from 6-14% of disbursed amount depending on product.
7. Immediate Disbursement Commission: Commission charged when customers choose immediate disbursement on the same day as contract signing rather than the standard 14-day fund transfer window. Only applicable to installment loan products.
8. Early Repayment Commission: Commission charged on total early repayment of installment loans, calculated on remaining principal: 0.5-1% for business loans, 0.5-1% for consumer loans depending on remaining term.
9. Branch Payment Commission: Commission of 100 ALL per payment made at Kredo.al branches. Klubi Kredo members receive 100% waiver of this commission during active membership.
10. Late Payment Penalty (Kamatvonesa): Daily late fee of 2% on overdue installment amounts, capped at 30% of the overdue contractual obligation per Bank of Albania regulations.
11. Documentation Request Fee: Fee of 2,000 ALL per printed/signed document issued at branch. Free via online client profile. Klubi Kredo members receive 100% waiver.
12. Klubi Kredo Membership Fee: Monthly membership fee of 500 ALL for Klubi Kredo loyalty program, providing branch payment commission waivers, documentation fee waivers, preferential commissions on credit extensions, and life debt forgiveness benefit.
13. Loan Restructuring Commission: Commission charged when a customer requests restructuring of an existing loan to extend term and reduce monthly payment, based on remaining principal.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core offering

Kredo.al operates as a licensed microcredit financial institution in Albania, offering consumer and small business credit products including single-installment (30-day) loans up to 93,000 ALL, multi-installment loans up to 200,000 ALL, premium installment loans up to 600,000 ALL, and business loans for sole proprietors up to 600,000 ALL. The company provides credit decisions within 15 minutes for new customers and 5 minutes for repeat customers, with minimal ID-only documentation and no guarantor requirement.

Product overview

Kredo.al operates as a fintech microfinance institution and part of Eleving Consumer Finance, offering a portfolio of consumer and business credit products. The core offering consists of four distinct loan products: (1) Kredi me Një Këst — a 30-day single-installment loan up to 93,000 ALL with a 0% first-loan promotional rate; (2) Kredi me Disa Këste — an installment loan from 4,000 to 200,000 ALL over 3–48 months at 3.65% monthly interest; (3) Kredi Premium — a higher-tier installment loan from 250,000 to 600,000 ALL over 3–60 months at 2.54% monthly interest, requiring income documentation; and (4) Kredi Biznesi — a business credit line for registered sole proprietors up to 600,000 ALL with 10–20% engagement commission. These core products are supplemented by the Klubi Kredo loyalty program (launched September 2023), which offers membership-based discounts and benefits, and the Smart Eleving financial education platform. Loans are disbursed and repaid via a network of bank transfers, Western Union, EasyPay, and physical branches.

Differentiator

Problem solved

Functional benefit

Brands

• Kredoversity: Financial education platform branded as 'Kredoversity' by Kredo.al, powered by Smart Eleving, offering free financial literacy resources.
• Klubi Kredo
• Smart Eleving

Products and services

• Kredi me Një Këst (Single Installment Loan) A short-term consumer loan with a single repayment due in 30 days, offering up to 93,000 ALL. First-time borrowers receive 0% interest under the promotional offer; subsequent loans carry 3.6% monthly interest for existing customers.
• Kredi me Disa Këste (Multiple Installment Loan) A consumer installment loan ranging from 4,000 to 200,000 ALL with repayment terms of 3 to 48 months, carrying 3.65% monthly interest on remaining principal. Targets Albanian citizens aged 20-70 with stable income.
• Kredi Premium (Premium Loan) A higher-value consumer installment loan ranging from 250,000 to 600,000 ALL with repayment terms of 3 to 60 months, carrying 2.54% monthly interest on remaining principal. Requires proof of income and is targeted at repeat customers with established repayment history.
• Kredi Biznesi (Business Loan) A business credit line for sole proprietors (Person Fizik) registered with Albania's National Business Centre (QKB), offering 4,000 to 600,000 ALL with repayment terms of 3 to 48 months. Carries 1-1.5% monthly interest and a 10-20% non-refundable engagement commission depending on loan term.
• Klubi Kredo (Kredo Club) Loyalty Program A paid loyalty membership program launched in September 2023, charging 500 ALL per month. Members receive 100% waiver on branch payment commissions, 100% waiver on documentation fees, preferential commissions on credit extensions, life debt forgiveness benefit, and access to discounts at 27 partner businesses across Albania.

Quantifiable outcome

• Credit decision within 15 minutes for new customers and 5 minutes for returning customers
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature4 records

Partnerships

31 partnerships are on record, tiered minor and core.

• Shtepiza e Fotos (Librazhd)minorGTM or Marketing Partner · 1 September 2023Photography studio in Librazhd offering 5% discount to Klubi Kredo loyalty members. Located at Lagja Nr.1, Rruga 'Shebenikus', Librazhd.
• Ard Phone Service (Librazhd)minorGTM or Marketing Partner · 1 September 2023Phone service provider in Librazhd offering 5% discount to Klubi Kredo members. Located at Lagja Nr.1, Rruga 'Shebenikus', Librazhd.
• Makina me Qera Murati (Tirana)minorGTM or Marketing Partner · 1 September 2023Car rental service in Tirana offering 5% discount to Klubi Kredo members. Located at Rruga 'Bajram Curri', Pallati 4/32, Tirane.
• Mobileri Prizma Group (Tirana)minorGTM or Marketing Partner · 1 September 2023Furniture store in Tirana offering 5% discount to Klubi Kredo members. Located at Fshati Prush, Rruga 'Prush', Tirane.
• Marios Painting Garage (Lushnje)minorGTM or Marketing Partner · 1 September 2023Auto painting and repair service in Lushnje offering 10% discount to Klubi Kredo members. Located at Lagja 'Loni Dhamo', Rruga 'Ferit Vokopola', Lushnje.
• Niti Makina me Qera (Lushnje)minorGTM or Marketing Partner · 1 September 2023Car rental service in Lushnje offering 10% discount to Klubi Kredo members. Located at Lagja 'Loni Dhamo', Rruga 'Harrun Sefa', Lushnje.
• JS Perfume (Lushnje)minorGTM or Marketing Partner · 1 September 2023Perfume retailer in Lushnje offering 5% discount to Klubi Kredo members. Located at Lagja 'Loni Dhamo', Bulevardi Palmave, Lushnje.
• Farmaci Mirela (Berat)minorGTM or Marketing Partner · 1 September 2023Pharmacy in Berat offering 5% discount to Klubi Kredo members. Located at Lagja 'Clirimi', Pallati Nr. 3, Berat.
• Ottica Italiana (Multiple Locations)coreGTM or Marketing Partner · 1 September 2023Optical store chain with 5 locations offering 20% discount on optical glasses and 10% on sunglasses to Klubi Kredo members. Locations in Babrru Tirana, Shijak, Belsh, Rrogozhine, and Cerrik. One of the highest-discount partners in the network.
• AAG Publicity (Tirana)minorGTM or Marketing Partner · 1 September 2023Advertising and publicity agency in Tirana offering 20% discount to Klubi Kredo members. Located at Rruga 'Jordan Misja', Komplesi Gener 2, Tirane.
• Parukeri Ida (Tirana)minorGTM or Marketing Partner · 1 September 2023Hairdressing salon in Tirana offering 10% discount to Klubi Kredo members. Located at Rruga 'Sitki Cico', Pallati Nr. 27, Kati i pare, Tirane.
• Guesthouse Kadiu (Berat)minorGTM or Marketing Partner · 1 September 2023Guesthouse accommodation in Berat offering 15% discount to Klubi Kredo members. Located at Lagjia Mangalem, Berat.
• Crystal Team (Berat)minorGTM or Marketing Partner · 1 September 2023Cleaning services company in Berat offering 20% discount to Klubi Kredo members. Located at Lagjia 30 Vjetori, Rr 'Tregu Industrial', Berat.
• Fiziotech (Durres)minorGTM or Marketing Partner · 1 September 2023Physical therapy center in Durres offering the highest partner discount of 25% to Klubi Kredo members. Located at Lagja Nr.7, Rruga 'Vasil Mici', Durres.
• Rasim Rama SHPK (Kukes)minorGTM or Marketing Partner · 1 September 2023Business in Kukes offering 5% discount to Klubi Kredo members. Located at Lagja 'Zona Industriale', Kukes.
• Auto Servis Dealbi (Kukes)minorGTM or Marketing Partner · 1 September 2023Auto repair service in Kukes offering 10% discount to Klubi Kredo members. Located at Lagja 'Zona Industriale', Kukes.
• Laci Kompani (Kukes)minorGTM or Marketing Partner · 1 September 2023Marble processing company in Kukes offering 5% discount to Klubi Kredo members (only on marble processing services). Located at Rruga 'Kukesi i Vjeter', Kukes.
• DUA- Tourist (Kukes)minorGTM or Marketing Partner · 1 September 2023Tourism service in Kukes as Klubi Kredo partner. Located at Lagja 'Shtiqen', Kukes.
• Handmade Ana (Fier)minorGTM or Marketing Partner · 1 September 2023Handmade crafts business in Fier offering 20% discount to Klubi Kredo members.
• Teoren (Tirana)minorGTM or Marketing Partner · 1 September 2023Business operating in several cities across Albania offering 10% discount to Klubi Kredo members. Based in Tirana.
• Raiffeisen BankcoreChannel Partner/ Reseller/ DistributorBank account partner for loan disbursements and payments. Customers can receive disbursements and make payments through Raiffeisen Bank. IBAN: AL13202111300000000021326338. One of seven partner banks.
• Credins BankcoreChannel Partner/ Reseller/ DistributorBank partner for loan disbursements and payments. IBAN: AL40212112120000000001002347.
• BKT (Banka Kombetare Tregtare)coreChannel Partner/ Reseller/ DistributorBank partner for loan disbursements and payments. IBAN: AL3720511227003369CLPRCLALLA.
• Intesa SanPaolo BankcoreChannel Partner/ Reseller/ DistributorBank partner for loan disbursements and payments. IBAN: AL13208110080000020954735301.
• Union BankcoreChannel Partner/ Reseller/ DistributorBank partner for loan disbursements and payments. IBAN: AL49214111820198578156720113.
• Tirana BankcoreChannel Partner/ Reseller/ DistributorBank partner for loan disbursements and payments. IBAN: AL77206110420000140322914101.
• OTP Albania BankcoreChannel Partner/ Reseller/ DistributorBank partner for loan disbursements and payments. IBAN: AL30902117974551240020156176.
• Western UnioncoreChannel Partner/ Reseller/ DistributorCash disbursement partner. Customers can receive loan proceeds in cash at any Western Union location in Albania. Cash disbursement commission of 6-14% applies depending on loan product. Also used for loan payments at all Western Union points.
• EasyPaycoreChannel Partner/ Reseller/ DistributorCash disbursement partner. Customers can receive loan proceeds in cash at any EasyPay location in Albania. Cash disbursement commission of 6-14% applies depending on loan product. Also used for loan payments at all EasyPay points.
• Smart Eleving (Financial Education Platform)minorStrategic or Co-development PartnerFree financial education platform (www.smart.eleving.com/sq/) providing Albanian-language financial literacy content. Part of the Eleving Consumer Finance group. Used by Kredo.al to educate potential customers on responsible borrowing and financial decision-making.
• EvrotrustcoreTechnology or IntegrationElectronic identification and digital identity verification service used during the online loan application and registration process. Enables fully remote customer onboarding without physical presence at a branch for eligible customers.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Eleving Consumer Finance: Parent group of Kredo.al (via ECFA sh.a.). Eleving Consumer Finance is a publicly-traded international consumer finance group operating multiple lending brands across CEE, Africa, and Asia. Comparable as the strategic parent providing capital, technology, and shared infrastructure including the Smart Eleving education platform.
• Raiffeisen Bank Albania: One of the largest banks in Albania and a Kredo.al distribution partner for disbursements. As a traditional bank with full deposit base, it competes with Kredo.al for consumer credit demand at the prime end and benefits from lower funding costs, but lacks Kredo.al's speed and ID-only underwriting flexibility.
• BKT (Banka Kombëtare Tregtare): Largest Albanian commercial bank by assets and a Kredo.al disbursement partner. Provides traditional consumer and SME credit, competing for the upper tier of Kredo.al's customer base (Premium and Business loan segments) where income documentation is available.

Direct peers

• NOA Financial: One of Albania's main licensed microcredit and consumer finance institutions, offering personal and small business loans to Albanian consumers. Directly competes with Kredo.al in the same Albanian microcredit regulatory framework, serving similar underbanked customer segments with installment loan products.
• BESA Microfinance: Albanian microfinance institution providing consumer and microenterprise credit across Albania. Operates as a licensed NBFI under Bank of Albania supervision with a similar product mix (personal loans, small business loans) targeting similar underserved segments.
• VisionFund Albania: Albanian microfinance institution providing consumer microcredit, small business loans, and rural lending products. Part of the VisionFund International network. Directly competes with Kredo.al for the same underbanked Albanian borrower segments under similar microcredit regulation.
• FED Invest: Albanian non-bank microcredit institution offering consumer and small business loans. Operates in the same regulatory framework as Kredo.al and competes for similar short-term and installment credit demand from Albanian consumers and sole proprietors.
• Mogo Finance: Sister brand under Eleving Consumer Finance group, operating in multiple CEE and CIS countries with vehicle-secured and consumer lending. Closely comparable operating model (digital-first, automated decisioning, regulated NBFI licensing, similar customer segment). Functions as a sister-company benchmark for Kredo.al's product design and technology stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookm.me/524888260711161

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kredo.al