• Fido Money provides instant, unsecured digital loans to individuals and SMEs via a mobile app.

• The company raised $5.5 million in debt financing to scale technology and growth.

• Its proprietary “Fido Score” algorithm assesses creditworthiness using alternative data.

Fido Money operates as a fintech solution developed by a Ghanaian company. The platform enables individuals and small enterprises to obtain instant digital loans without collateral or traditional banking procedures.

Founders Nadav Topolski, Tomer Edry and Nir Zepkowit launched the start-up in 2014. Earlier this week, the company announced that it had secured $5.5 million in debt financing to expand its technology and support growth.

The solution operates through a mobile application that allows users to verify their identity, receive a credit assessment and obtain funds directly in their mobile money wallets within minutes.

At the core of the model, Fido deploys a proprietary data analytics system called “Fido Score.” The algorithm evaluates borrower creditworthiness using alternative data such as phone usage, transactional behavior and digital history. The system enables the company to finance customers who often remain excluded from the traditional banking system.

The approach addresses a structural gap in West Africa, where micro-entrepreneurs and informal workers rarely hold formal financial histories. Beyond individual lending, Fido has developed solutions for SMEs, including progressive loans that allow merchants to increase borrowing capacity after successful repayments.

Through its fully digital model, Fido reflects a broader trend in African fintech. Platforms increasingly transform the smartphone into a primary gateway to credit, savings and, over time, a broader range of digital financial services.

This article was initially published in French by Adoni Conrad Quenum

Adapted in English by Ange J.A de Berry Quenum