$5.5M Investment from Symbiotics Fuels Fido Ghana’s AI Financial Inclusion Efforts

Symbiotics has supported Fido Ghana through a USD 5.5 million debt investment, backing a pioneering digital financial services provider committed to expanding access to credit for underserved individuals and micro, small, and medium enterprises (MSMEs) across Africa.

This strategic funding will support Fido Ghana’s expansion of its AI-driven lending and digital financial solutions, enhancing its capacity to serve individuals and small businesses traditionally excluded from conventional banking services. The investment underscores Symbiotics’ commitment to fostering sustainable economic development and promoting broader financial inclusion in frontier and emerging markets.

Founded in 2014, Fido is building Africa’s leading AI-powered, fully-digital financial platform, leveraging its proprietary technology and data-driven models to deliver instant loans, savings and other ancillary services through its mobile platform to individuals and MSMEs, many of whom lack conventional financial histories. The company’s inclusive digital offerings help bridge financial access gaps in Ghana, Uganda, and beyond. Fido’s solutions have contributed to the disbursement of hundreds of millions of dollars in credit to more than one million customers, with a significant share going to small businesses and low-income users.

“Symbiotics is proud to support Fido Ghana in its mission to scale inclusive, AI-enabled financial services that expand access for underserved populations. We are particularly impressed by the company’s innovative data-driven models and its impact in enhancing meaningful financial inclusion across multiple African markets,” said Aldric Luyt, head of Fintech at Symbiotics.

“This investment is another validation of our mission to serve the financially underserved across Africa. The capital raised will support the scaling of our platform as we continue developing financial solutions to provide more individuals and MSMEs with essential tools to build financial security,” added Alon Eitan, CEO at Fido Group.

This partnership between Symbiotics and Fido is set to empower entrepreneurs, increase access to financial services for excluded communities, and contribute to resilient economic growth, advancing progress towards Sustainable Development Goal 1 (No Poverty).

Symbiotics Asset Management’s funds and clients played a key role in enabling this transformative investment through their targeted capital allocation with the REGMIFA fund as a key contributor.

SOURCE : Africa Tech Insider