Kia Kia launches moneylending p2P plant app in Nigeria

Kia Kia launches moneylending p2P plant app in Nigeria

 Kia Kia launches moneylending p2P plant app in Nigeria

Kia Kia has launched a mobile moneylending investment app that welds borrowers together with private and business-oriented lenders. The app allows users to invest in financing individual and commercial loans at flexible interest rates.

Kia Kia launched a peer-to-peer lending app in 2016 with the aim of giving people better returns on their investments and with less fear. The Platform provides direct loans to consumers and SMEs P2P and receives them for under-banked and non-banked Nigerians through its rating and risk assessment algorithm.

The start-up has enabled, structured, produced and disbursed more than NGN 4.5 billion in personal and commercial loans to individuals and MSM throughout Nigeria. So far, its peer-to-peer (P2P) lending service has been exclusive to high-income earners, but it now opens it to anyone with a legitimate source of funds through its new app.

The application was developed in response to growing demand from companies and financiers. Olajide Abiola, co-founder and CEO of KiaKia, said that the P2P credit and investment platform such as KiaKia has been optimized to deliver value. 

"We offer you the opportunity to put your money to work by effectively aggregating funds, carefully matching them and paying them safely to creditworthy borrowers so that lenders can directly benefit from interest and profit sharing," he said. 

"Traditional financial institutions alone cannot meet the credit needs of economically active people and the real sector. For this reason, it is necessary to use the resources of crowds in an ethical and creative way to fill this critical gap. What we've done is simply reinvent systems that have worked for other societies and adapt to our unique social and economic dynamics and reality, and drive them based on performance and performance over the past four years.

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