Fido is a digital financial services platform that provides instant loans in Ghana through identity verification using a selfie and a Ghana card. By offering a streamlined application process and personalized credit scoring, Fido enables users to access credit and manage their finances efficiently, addressing the need for accessible financial solutions in the region.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals and small businesses in Ghana and Uganda lack access to traditional financial services, hindering their ability to manage expenses, save money, and obtain necessary credit. Existing loan application processes can be cumbersome, time-consuming, and require extensive documentation, creating barriers for those in need of immediate financial assistance.
Solution
Fido is a digital financial services platform that provides accessible and efficient financial solutions, including instant loans and savings options, via a mobile application. By leveraging identity verification through selfies and national ID cards, Fido streamlines the loan application process and offers personalized credit scoring. The platform enables users to manage their finances, access credit, and handle bill payments conveniently, 24/7. Fido also offers business loans to small businesses without collateral.
Target Audience
Fido primarily targets individuals and small business owners in Ghana and Uganda who are seeking accessible and convenient financial services, including instant loans and savings solutions.
Features
- Instant loan application and disbursement via mobile app
- Identity verification using selfie and national ID card
- Personalized credit scoring system for tailored loan options
- Savings account functionality with interest-bearing options
- Bill payment management features
- Business loans for small businesses without collateral requirements
- 24/7 accessibility
- Fido Score to unlock better loan options