CreditPro, a Nigerian credit services and financial technology firm, has announced plans to raise N2 billion to finance its next phase of expansion following the approval of its licence by the Central Bank of Nigeria (CBN).
The company disclosed in a statement on Monday that the fresh capital would be deployed to strengthen its lending capacity, broaden its digital infrastructure, and scale operations across new markets in Nigeria.
With the CBN licence, CreditPro is now authorised to operate as a fully regulated financial institution, a milestone that management says will enhance public trust and position the firm to play a stronger role in the nation’s credit ecosystem.
Chief Executive Officer of CreditPro, Chinedu Okafor, described the approval as a “vote of confidence” in the company’s governance framework and growth strategy.
“Our target is to use this N2 billion capital raise to deepen access to credit for individuals and small businesses, while also investing in technology that makes borrowing simpler, faster, and more transparent,” Okafor said.
He added that CreditPro intends to expand its footprint in underserved regions, supporting financial inclusion in line with national economic objectives.
Industry observers note that the move comes at a time of increasing demand for alternative lending platforms, as traditional banks tighten credit requirements amid economic headwinds.
The proposed capital raise is expected to be completed through a mix of equity and debt financing, although further details on the structure of the transaction are yet to be released.
