How Aladdin Digital Bank is strengthening Africa’s SMB Economy -NAIRAMETRICS
With the exponential rise in active internet users, small African businesses are migrating online in large numbers and face severe identity and fraud issues. They patronize fragmented solutions by downloading several apps to run their businesses effectively.
These issues gave birth to Aladdin, a digital ecosystem bank that provides small businesses with quick access to loans, high-interest savings and investments, a robust marketplace of over 40,000 sellers and buyers and a social feed to foster interaction between all customers in one digital app.
Aladdin Digital Bank has achieved significant milestones since it launched in January 2021. It recently announced its successful closing of a debt-financing deal up to $3.5 million. This debt-financing will power its digital lending products to provide a wide range of loan options, including; Nano, micro, salary, auto, SME loans, et cetera. It successfully launched its Nano loans product and has begun rolling out its salaried employee loans product up to $10,000.
In addition to accessing loans, users can save and invest in high yielding products, make and receive payments, buy and sell products and services and services and interact with other users on Aladdin.
In the last couple of months, Aladdin Digital bank has transformed from a digital bank app to a full-scale financial platform for individuals, freelancers and SMEs. Thereby, it continues to build and improve upon its digital financial products on its banking platform, all to help grow its customers’ businesses.
Therefore, Aladdin is undoubtedly on track to become one of Africa’s leading ecosystem banks that supports the SMB economy because of its unrelenting support and provision of the financial, commercial, and social tools they need to thrive.
Become an investor in Aladdin
Aladdin’s vision is to create a digital bank to help SMEs and freelancers across Africa access more financial tools and opportunities in one place. They call on investors who share in this vision to invest to achieve this vision faster.
Since December 2021, Aladdin kickstarted its regulated crowdfunding to raise pre-seed of $1,200,000.Thanks to over 300 individual, retail and institutional investors, they have raised over $619,000.
The pre-seed crowdfunding round closed in a few days on 26 May 2022.
You too can join Aladdin’s growing community of investors today with as little as $100 at www.wefunder.com/aladdin from across the globe. Nigerians and anyone around the globe can also invest in Aladdin for as little as $10 at https://getequity.page.link/3wR81ujgkLpDzCEu7
To learn more about Aladdin Digital Bank, visit www.aladdin.ng or connect with us on Linkedin, Instagram, Facebook, or Twitter.
The mobile app is available for download on both Google play store and the Apple store.
Twitter : @aladdinbankng
Originally published at https://nairametrics.com on May 17, 2022.