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Paylater

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Paylater
IndustryFinancial services
Founded 📆2016; 4 years ago (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
Websitepaylater.ng
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.

  1. "Dear Nigerians, you can now access quick loans from Paylater.ng using your BVN". Ventures Africa. 2016-04-11.
  2. "One Finance and Investments". Crunchbase.
  3. "PayLater App Gives Small Loans To Anyone With A Facebook Account". Page One. 2016-06-27.
  4. "This app makes it easy for the common Nigerian to get loans". Pulse Nigeria. 2017-09-18.
  5. "African startups selected for Google Launchpad accelerator". Disrupt Africa. 2017-11-30.
  6. "Meet Paylater: a Nigerian financial services startup using ML (Startup Spotlights)". Google Developers Launchpad.
  7. "As regulators turn sights on fintech, a Nigerian startup is first to secure credit rating". Quartz (publication).
  8. "Paylater, the mobile app providing Nigerian consumers with access to credit, has reached 1 million downloads". CNBC Africa. 2018-08-02.

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