Notto is Africa's first licensed alternative credit bureau that utilizes artificial intelligence to assess the creditworthiness of consumers and sole proprietors in the informal economy. By partnering with telcos and financial institutions, Notto provides lenders with reliable non-credit data, enabling them to better evaluate risk and extend credit to underserved markets.
Funding
$100K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
In the African informal economy, many consumers and sole proprietors lack traditional credit histories, making it difficult for lenders to assess their creditworthiness. This lack of data prevents these individuals and businesses from accessing needed credit and financial services. Traditional credit risk models often fail to capture the nuances of income generation and financial behavior within this sector.
Solution
Notto is a licensed alternative credit bureau that uses AI to evaluate the creditworthiness of consumers and sole proprietors operating within Africa's informal economy. By aggregating non-traditional data sources such as telco records, mobile money transactions, and open banking data, Notto provides lenders with a more comprehensive view of an applicant's financial behavior. The platform's AI-powered algorithms analyze these diverse data points to generate credit scores and risk assessments tailored to the unique characteristics of the informal sector. This enables financial institutions to extend credit to previously underserved markets with greater confidence and reduced risk.
Target Audience
Notto's primary customers are financial institutions, fintech companies, and lenders operating in Africa who seek to expand their reach to the informal economy while mitigating credit risk. The platform also targets landlords looking for reliable tenant screening.
Features
- AI-driven credit scoring using alternative data sources
- Integration with telcos, mobile money operators, and open banking platforms
- Real-time credit risk assessment for informal sector participants
- Non-credit data analysis for comprehensive financial profiling
- Secure data storage and compliance with regulatory standards