Paylater
ISIN | 🆔 |
---|---|
Industry | Financial services |
Founded 📆 | 2016 |
Founder 👔 | |
Headquarters 🏙️ | Victoria Island, Lagos |
Area served 🗺️ | |
Key people | Chijioke Dozie, CEO Ngozi Dozie, Co-founder |
Products 📟 | Loans, Payments, Investments |
Members | |
Number of employees | 70 |
🌐 Website | paylater |
📇 Address | |
📞 telephone | |
Paylater is a digital, mobile-only lending platform that allows individuals to access credit through short-term, personal loans, make payments and investments.[1] Paylater is owned and operated by One Finance and Investments Limited in Nigeria.[2] Paylater, through its parent company, is a regulated entity licensed by the Central Bank of Nigeria to provide financial products and services in the Nigerian marketplace.
History[edit]
Paylater was founded by Chijioke Dozie and Ngozi Dozie. The brothers hoped to provide an easier option for underbanked individuals to obtain credit without collateral.[3] In 2016, it was launched as a mobile application in Nigeria. Prior to its launch in 2016, individuals had to go through manual processes at traditional banks to get a loan. [4] In November 2017, Paylater announced it had been selected as one of the 24 startups in the Google Launchpad Accelerator Program. [5] [6] In December 2018, Paylater through its parent company obtained a BB credit rating from the Global Credit Rating Company. [7]
Mobile Application[edit]
Paylater exists as a mobile app that can be used on Android phones. In August 2018, Paylater announced that its mobile app had reached 1 million downloads.[8]
This article "Paylater" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Paylater. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
- ↑ "Dear Nigerians, you can now access quick loans from Paylater.ng using your BVN". Ventures Africa. 2016-04-11.
- ↑ "One Finance and Investments". Crunchbase.
- ↑ "PayLater App Gives Small Loans To Anyone With A Facebook Account". Page One. 2016-06-27.
- ↑ "This app makes it easy for the common Nigerian to get loans". Pulse Nigeria. 2017-09-18.
- ↑ "African startups selected for Google Launchpad accelerator". Disrupt Africa. 2017-11-30.
- ↑ "Meet Paylater: a Nigerian financial services startup using ML (Startup Spotlights)". Google Developers Launchpad.
- ↑ "As regulators turn sights on fintech, a Nigerian startup is first to secure credit rating". Quartz (publication).
- ↑ "Paylater, the mobile app providing Nigerian consumers with access to credit, has reached 1 million downloads". CNBC Africa. 2018-08-02.