Indicina

Indicina is a Nigerian credit technology company founded in September 2017 and headquartered in Lagos. It builds API-driven credit infrastructure and machine-learning analytics for banks, microfinance banks and digital lenders in Africa, where credit bureau coverage is thin and most loan applicants cannot be assessed from a traditional credit file. Indicina does not lend itself; it supplies the decisioning layer to licensed credit providers.

Decide is the credit decisioning engine: it ingests bank statements and other alternative data, extracts income, spending and affordability variables, and applies ready-made or lender-configured machine-learning models to return a decision. Originate is a white-label loan origination system covering application, disbursement and collections, and a Buy Now Pay Later product handles transaction tracking and repayments. Named customers include First Bank, Accion Microfinance Bank, the Lagos State Employment Trust Fund, Zilla Africa and Creditwave. Indicina raised a USD 3 million seed round led by Target Global with Greycroft and RV Ventures to fund expansion in Nigeria and Kenya, and states PCI-DSS and ISO compliance.

1. Decide engine: Turns raw bank statements and alternative data into affordability variables and an automated credit decision.

2. Ready-made models: Lenders can start on pre-built scoring models or configure their own rules and cut-offs.

3. Originate: White-label loan origination covering application, disbursement, repayment and collections.

4. BNPL module: Supports Buy Now Pay Later programmes with transaction tracking and repayment management.

5. Compliance posture: The company states PCI-DSS compliance and ISO certification for its data handling.

6. Institutional customers: Deployed at First Bank, Accion Microfinance Bank and the Lagos State Employment Trust Fund.