FREECASH SOLUTION AND INVESTMENT COMPANY LIMITED

What FREECASH SOLUTION AND INVESTMENT COMPANY LIMITED does

FreeCash Solution & Investment Company Limited (FSIC) is a Nigerian private money-lending organization founded in 2019 and headquartered at 106/110 Lewis Street, Lagos. The company provides short-term, collateral-free loans to unbanked and underbanked individuals and to micro and small enterprises in Nigeria, aligning with the Federal Government's financial inclusion objectives. Loan products are structured in four primary lines: Quick Loans (zero-documentation emergency loans with 2-hour disbursement), Salary Earner Loans (for employed borrowers with no early-exit penalty and guarantor capability), Micro Loans (N10,000-N500,000 over 30-90 days), and SME Loans (for business working capital). The company does not accept deposits from the public and funds its lending book entirely from promoter contributions.

The platform operates a direct-to-consumer distribution model through three intake channels: a self-serve online application at freecash.ng, email-based submission of completed forms, and an in-person Lagos branch during business hours. Underlying infrastructure includes BVN (Bank Verification Number) identity verification, automated salary deduction at source, and disbursement and repayment integrations with 22 Nigerian banks plus the QuickTeller payment platform for repayment processing. The technology stack is described as "efficient and technology-driven" to support the brand's 2-hour disbursement promise, but no proprietary AI/ML, mobile app, or API offering is disclosed. Marketing relies on organic presence across Facebook, Twitter, and LinkedIn plus a website newsletter signup.

The revenue model is interest and fee income on short-duration, small-ticket loans, with the company explicitly stating it does not take deposits. Pricing is not publicly disclosed beyond affordability messaging, and loanable funds are sourced solely from promoters, meaning capacity is constrained by internal capital rather than institutional leverage. Operating scale is small: a 5-person team, single-city presence, no disclosed funding rounds, no external investors, and no public revenue figure.

Name

FREECASH SOLUTION AND INVESTMENT COMPANY LIMITED

Legal name

Freecash Solution & Investment Company Limited

Website

https://freecash.ng

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

FreeCash Solution & Investment Company Limited is a Nigerian private lender founded in 2019 that provides short-term, collateral-free loans (N10,000-N500,000, 30-90 day tenure) to unbanked individuals, salary earners, and micro/small enterprises across Nigeria via online, email, and in-person channels.

Ownership category

akta.pro rank

Product category

Consumer Lending

NAICS

Nondepository Credit Intermediation (5222)

SIC

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

akta.pro primary industry

Small-Dollar Short-Term Installment Loans (Non-payday) (FSAKAMAI)

akta.pro secondary industry

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

Keywords

• Money lending
• Consumer lending
• SME financing
• Micro loans
• Financial inclusion

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest and Fees: The company generates revenue through interest and fees charged on short-term loans disbursed to individuals and SMEs. Loans range from N10,000 to N500,000 with tenures of 30-90 days. The company is a private money lending organization that does not take deposits from the public.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

FREECASH SOLUTION AND INVESTMENT COMPANY LIMITED is a private money lending organization in Nigeria that provides short-term, collateral-free loans to underbanked individuals, salary earners, and micro, small and medium enterprises. The company disburses loans ranging from N10,000 to N500,000 with tenures of 30-90 days (extendable up to 6 months) and promises disbursement within 2 hours of completing documentation. The company does not accept deposits from the public and funds its lending from promoters' contributions, with applications accepted online, via email, or at its Lagos office.

Product overview

FREECASH SOLUTION AND INVESTMENT COMPANY LIMITED operates as a single unified lending platform offering quick, collateral-free loans to individuals and SMEs. The core product portfolio consists of Quick Loans (zero-documentation emergency loans with 2-hour disbursement), Salary Earner Loans (tailored for employed individuals), Micro Loans (N10,000-N500,000 amounts), and SME Loans (for business purposes). All loan products share common features: no collateral requirement, short tenures (30-90 days), and technology-driven approval processes. The company targets unbanked and underbanked populations in Nigeria as part of the Federal Government's financial inclusion policy.

Differentiator

Problem solved

Functional benefit

Products and services

• Quick Loans Short-term personal loans with zero documentation requirements and instant credit decisions, designed for financial emergencies with disbursement within 2 hours of documentation completion. Open to everyone eligible.
• Salary Earner Loans Loans tailored for employed individuals offering no early exit penalty, both online and branch application options, and the ability to sign as guarantor for others. Verifiable salary income supports underwriting.
• Micro Loans Small loans ranging from N10,000 to N500,000 with short tenures of 30-90 days (1-3 months), targeted at individuals lacking access to traditional banking services and needing quick cash for emergencies or everyday needs.
• SME Loans Business loans for micro, small and medium enterprises to stock goods, pay rent, or cover operational expenses. No collateral is required, with underwritten against a verifiable income source.

Quantifiable outcome

• 2-hour loan disbursement upon documentation completion

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Scale indicators1 record

Recent moves5 records

Expansion highlights3 records

Direct peers

• FairMoney: FairMoney is a Nigerian fintech providing instant personal and small business loans via mobile, with similar small-dollar, short-tenure, no-collateral characteristics. It is a directly comparable lender serving overlapping salary-earner and SME customer segments.
• Aella Credit: Aella Credit is a Nigerian fintech lender providing instant salary-backed and consumer loans to employees via employer integrations. Its employer-salary-deduction model is structurally similar to FreeCash's salary-earner product.
• Lidya: Lidya is a Nigerian digital lender focused on SME working capital loans with online origination. It overlaps with FreeCash's SME Loan product and serves a comparable micro-enterprise borrower base in Nigeria.
• QuickCheck: QuickCheck is a Nigerian AI-driven mobile lending app focused on salary earners and small businesses, offering instant, collateral-free credit. It is a direct competitor to FreeCash on speed, target customer, and product structure.
• Renmoney: Renmoney is a Nigerian consumer and SME lender offering personal and business loans, salary-backed products, and quick disbursement. It overlaps directly with FreeCash on salary-earner loans, micro/SME lending, and short-tenure credit in Nigeria.
• Branch International: Branch is a mobile lending platform that operates in Nigeria (among other African markets), offering instant personal loans to first-time borrowers via smartphone. It is comparable in product, technology, and target underbanked customer.
• Palmcredit: Palmcredit is a Nigerian mobile lending app offering fast, collateral-free loans to individuals, with similar underwriting on salary and BVN data. It competes head-to-head with FreeCash for the same underbanked consumer base.
• Carbon (formerly Paylater): Carbon is a Nigerian digital lending platform offering instant, collateral-free consumer and SME loans. It directly competes with FreeCash on speed, ticket size, and target underbanked segment, and is one of the most established players in the same niche.

Broad incumbents

• Kuda Bank: Kuda is a Nigerian digital-only neobank offering deposit accounts, payments, and increasingly consumer/SME credit. It competes with FreeCash for the same underbanked Nigerian salary-earner segment but from a broader banking-platform position.

Others

• TeamApt (now Moniepoint): Moniepoint (formerly TeamApt) is a Nigerian business banking and payments platform serving SMEs and agents with POS and working capital products. It is adjacent to FreeCash through SME working capital, but is primarily a payments/business-banking infrastructure provider rather than a direct consumer lender.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/freecashsol
• Facebookfacebook.com/Freecash-Solution-Investment-Company-Limited-502937793439366
• LinkedInlinkedin.com/company/freecash-solution-and-investment-company-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

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 FREECASH SOLUTION AND INVESTMENT COMPANY LIMITED