CreditChek, a fast-rising African credit assessment platform, has acquired CreditCliq, a U.S.-based company that helps business underwrite credit to newcomers while reducing default risk by accessing customers’ global credit report.
The acquisition is a strategic move by CreditChek, aimed at breaking one of the biggest barriers for African immigrants, to accessing credit in new countries.
Speaking on the acquisition, Kingsley Ibe, CreditChek CEO, told Condia,
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“Financial institutions should be able to provide credit to Africans globally. We are simply providing the data to support credit applications for African applicants who may have migrated to another country.”
Also commenting, Lionel Orishane, CTO of CreditChek said,
“We are incredibly excited about this acquisition as it marks a strategic step forward in strengthening our infrastructure, accelerating credit decisioning across borders, and expanding access to reliable credit data for global financial institutions. We believe this move will bring us closer to our mission of making financial inclusion a reality for millions of African consumers globally”.
Creditcliq focuses on providing individuals with tools to access and understand their credit information. The company offers a platform where users can discover their credit scores quickly and efficiently, aiming to empower global citizens by making their credit reports accessible. It also introduces consumers to their first financial products, such as credit cards, helping them to start building their credit.
With a commitment to enhancing financial literacy and accessibility, Credit Cliq serves as a bridge between individuals and their financial health, enabling them to make informed decisions about their credit and finances.
The acquisition of Creditcliq by CreditCheck directly tackles the challenge of non-transferable credit histories, a common hurdle for African migrants trying to secure loans, rent apartments, or obtain credit cards abroad. By integrating CreditCliq’s infrastructure which was originally designed to underwrite immigrants from the Philippines and Mexico, CreditChek now possesses the capability to translate African credit profiles into formats recognized in countries like the U.S., U.K., and Canada.
Launched in 2022, CreditChek has already facilitated over 300,000 verifications and supported more than $30 million in loan approvals. The platform partners with African credit bureaus to enhance financial data transparency. Its core offerings include Credit Insights, which connects with African credit bureaus, and Income Insights, a tool for financial institutions to assess creditworthiness from bank statements.
These tools reduce credit assessment times to under 90 seconds, significantly faster than the typical 20 minutes, with charges ranging from 50 cents to $2 per search or API call. By facilitating the transfer of credit information, CreditChek enables financial institutions worldwide to assess the creditworthiness of African consumers, thereby promoting financial inclusion and economic empowerment.
In January 2025, the company partnered with CredPal, a buy now pay later (BNPL) company in Africa, to deliver creditworthiness and identity verification services for CredPal’s new credit card business. This collaboration represented a significant step for CreditChek to strengthens its mission to make credit across Africa more accessible, transparent, and reliable.
With the recent acquisition, Creditchek is positioning itself at the forefront of transforming credit access across the African continent. The company is charting a future where African consumers can access financial services seamlessly, no matter where they are in the world.