Nigerian Digital Lender Lidya Shuts Down After Raising $16.45 Million

Nearly a decade after launching to provide quick, collateral-free loans for SMEs, Lidya, the Nigerian digital lender founded by ex-Jumia executives Tunde Kehinde and Ercin Eksin, has officially ceased operations due to severe financial distress.

The once-promising fintech, which expanded to Europe and raised over $16 million, faced months of internal turmoil, leadership exits, and customer complaints over frozen funds and failed transactions.(Nairametrics)