Tunde Kehinde co-founded and has served as the chief executive officer at Lidya, a digital fintech lender operating in Africa and Europe, offering financing and the ability to build credit scores for SMEs in fast-growing economies within a record 24 hours.
Tunde is an experienced entrepreneur and, among others, co-founded Jumia Nigeria-africa’s first Unicorn, which was publicly listed on the NYSE. Another of his previous ventures includes an e-commerce delivery firm called Africa Courier Express.
He graduated with honors in Finance from Howard University and later did an MBA at Harvard Business School.
He has also been referred to as ‘The Jeff Bezos of Africa’ by the BBC and C2 Montreal, where he speaks with passion about what needs to be done to help entrepreneurs grow their businesses and create wealth that, in turn, supports economic diversification and influences job creation.
Tunde served earlier as Business Development Executive in London at Diageo and then as an investment.
Dratech International celebrates Tunde Kehinde among giants in the industry who, through influence, redefined and shaped stronger sectors that are FinTech today.
The article shall try to throw light on the achievement made by Tunde Kehinde and how he is influencing Africa’s Financial Technology space. Let us dive in.
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Tunde Kehinde`s Background
Tunde Kehinde is one of the great Nigerian businesspersons and a co-founder of Lidya-a Fintech company offering pioneering credit solutions for small and medium enterprises across Africa.
He studied Business Administration at the University of Lagos and later earned an MBA at Harvard Business School.
Before founding Lidya, he had co-founded Jumia-the first unicorn in Africa, which transformed the way e-commerce would be perceived in the region.
What perhaps makes Tunde somewhat different is his rare combination of technology and business acumen with a deep commitment to financial inclusion.
Lidya’s Innovative Credit Solutions
Founded in 2016 by Tunde Kehinde and Ercin Eksin-founders of the Nigerian online logistics startup, Africa Courier Express (ACE). Lidya uses technology to help the people open an account, build up credit profiles, and gain access to credit, providing better access to credit and finance for Africans.
Lidya Unlocks Credit for Africans: Every day, millions of creditworthy Africans face enormous obstacles in the form of minimal credit history, collateral demands, and cumbersome approval processes in an attempt to secure loans.
The beacons of hope to the Africans have reenvisioned credit management to provide secure and stable digital credit infrastructures where one can originate, disburse, and collect credit with confidence.
Creditworthy Africans can finally have access to loans at the speed and convenience that fits their needs, unhindered by barriers that have withheld them from doing so because of Lidya.
Deep technology through data analytics and algorithms fuels our credit rails to determine creditworthiness on a real-time basis for speedier digital credit disbursements and collections. These act as systems of record for all transactions.
Lidya has become a catalyst for success, driving over $100 million USD in credit across more than 32,500 loans with a 99% repayment rate.
Empowering Microfinance Institutions
Lidya promotes financial inclusion with the help of technology across Africa, thereby helping microfinance organizations facilitate access to credit for more people.
Microfinance institutions have been in the forefront in the quest for financial inclusion in Nigeria. Even against a host of challenges, some critical deterrents to such organizations include insufficient technology infrastructure.
Lidya is addressing these various challenges head-on with its technology-enabled solutions, hence empowering microfinance institutions to extend credit to more people and actually drive financial inclusion.
Lidya technology is making microfinance institutions grow by increasing their loan portfolios and reaching more clients.
With Lidya Credit Infrastructure, a MFI is able to handle its loan portfolio digitally, thus shrinking the time and expense connected with physical documentation.
Lidya Collect gives access to fully digital and automated collection tools that enable lenders to get their money back for immediate reuse in financing more people and SMEs.
Lidya’s Expansion Strategy
Lidya claims to have one of the deepest and widest databases of SME data across Africa, where its systems have digitized and analyzed over a combined value of $50 billion USD within the last 5 years.
During this period, they have been able to sign upwards of 220,000 businesses; underwrite near 32,500 loans; and are at an estimated US$100 million in disbursement value across its core markets of Nigeria, the Czech Republic, and Poland.
Lidya creates value for its customers by eliminating complexity and making finance intuitive, simple, and easy.
Actually, since its expansion into Eastern Europe at the height of the global coronavirus pandemic, and even rarer, this was the case of a company that started in Africa with a world-class tech solution to a global problem now expanding into Europe.
Lidya has raised close to US$16.5 million from a plethora of blue-chip international investors including Omidyar Network, Accion, Bamboo Capital, Newid, Alitheia and Goodwell Investments.
Tunde Kehinde’s Entrepreneurial Journey
Tunde Kehinde’s leadership and strategic vision have been instrumental in advancing fintech in Africa, particularly through Lidya, the digital lender he co-founded.
With a mission to address the financing challenges faced by small and medium enterprises (SMEs) in fast-growing economies, Tunde has successfully positioned Lidya as a vital enabler of business growth.
His vision emphasizes the importance of quick, accessible credit solutions, which Lidya delivers by offering financing and building credit scores within 24 hours.
Tunde’s strategic foresight extends beyond Africa, with Lidya expanding its operations to Europe.
His leadership is driven by a passion for economic diversification and empowering entrepreneurs, aligning with his broader goal of creating wealth and fostering job creation.
By integrating advanced technology and data analytics into Lidya’s credit scoring and lending processes, Tunde has transformed how SMEs access capital, significantly enhancing financial inclusion and driving innovation in Africa’s fintech ecosystem.
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Entrepreneurship Ecosystem in Africa
Tunde Kehinde has had a profound impact on Africa’s tech ecosystem through his innovative ventures and leadership.
As co-founder of Lidya, he has addressed one of the continent’s biggest challenges—access to credit for small and medium enterprises (SMEs).
By offering quick and scalable digital lending solutions, Tunde has empowered countless businesses to grow, fostering economic development and creating jobs across Africa.
His work in fintech promotes financial inclusion by making financing more accessible to entrepreneurs who were traditionally underserved by conventional banks.
Before Lidya, Tunde co-founded Jumia, Africa’s first unicorn, which revolutionized e-commerce and logistics across the continent.
His ventures have not only provided critical solutions for African businesses but also drawn significant attention from global investors, positioning Africa as a hub for technological innovation.
Tunde’s influence extends beyond fintech, as he advocates for entrepreneurship and economic diversification, contributing to the overall growth and dynamism of Africa’s tech and startup ecosystem.
FAQs
What is Tunde Kehinde’s main contribution to Africa’s tech ecosystem?
Tunde Kehinde co-founded Lidya, a fintech company that provides quick access to credit for SMEs, and Jumia, Africa’s first unicorn, significantly boosting the e-commerce and financial sectors.
How does Lidya help African businesses?
Lidya offers digital lending solutions, enabling small and medium enterprises to access financing within 24 hours, helping them grow and build credit.
What industries has Tunde Kehinde influenced?
Tunde has made a mark in fintech, e-commerce, and logistics, particularly with Jumia and Africa Courier Express.
How has Tunde’s work impacted Africa’s economy?
By empowering SMEs and driving financial inclusion, Tunde’s ventures have contributed to job creation, economic diversification, and increased foreign investment in Africa’s tech space.
Conclusion
Tunde Kehinde has, therefore, been able to deliver appropriate transformative influence in the technology ecosystem of Africa within the boundaries of fintech and e-commerce.
He had played a key role in the reshaping of ways through which access to finance and growth for businesses are offered to fast-growing economies via Lidya and Jumia.
His vision to empower SMEs and drive financial inclusions has resulted in pretty strong job creation and economic diversification across the continent.
Indeed, Tunde has been leading the industry in innovation; he has proven that with appropriate technology and strategy, African businesses can compete in the global market.
The impact of his influence creates a foundation upon which future entrepreneurs will build on Africa’s full tech potential.
