Ghanaian fintech startup Fido secures $30 million to expand in Africa

Oluwajuwonlo Afolabi -

Fido, a Ghana-based fintech startup has secured $30 million in its Series A funding round led by Fortissimo Capital, to support its plans to expand in Africa.

  • The fund will be used to improve its product offering, open its second research centre in Ghana, and expand its operations in Africa starting with Uganda.
  • Founded in 2015, Fido offers mobile loans of $250 to individuals and small businesses, repayable in installments.
  • With over 350,000 customers in Ghana, the fintech firm has processed over 1.5 million loans at $150 million valuations.
  • It has now raised $38 million in total equity investments.