SympliFi and Veend Launch First Credit Card for Nigerians to Build Credit Responsibly with Help From Abroad

London, 13 June 2023 - SympliFi, a pioneer fintech platform for cross border credit, announced a groundbreaking partnership with Veend, a leading fintech company in Nigeria, that enables Nigerians in the diaspora to help friends and family back home access cash and build credit responsibly through a first of its kind secured credit card. The card is an innovative solution that eliminates the need for costly cross border transfers and fees, while unlocking greater access to finance.

The SympliFi-Veend card provides users in Nigeria instant access to low-interest, short-term loans on demand, anytime they need cash. The card can be used for business working capital, life emergencies, or to bridge them until their next salary. In addition, every on-time card repayment is automatically reported to the credit bureau in Nigeria, empowering the borrower to safely build their credit history and start accessing higher credit limits.

Nigerians in the diaspora can digitally guarantee cards for friends and family in seconds on the SympliFi app and earn cash rewards for helping. The card is mailed locally to the borrower in Nigeria free of charge. The card can be used conveniently anywhere in Nigeria, whenever cash is needed and for local online purchases. The account is easily managed by the borrower on the Veend app or USSD platform.

"Until today, Africans in the diaspora only had one way to financially support loved ones back home - sending money. Our partnership with Veend and the launch of this first of its kind card changes that paradigm, with a focus on financial empowerment. We have seen first hand how greater access to affordable credit can transform people's lives. Through the card, we are empowering communities to unlock more financial opportunities and improve their well being, without barriers and borders." announced SympliFi's CEO and co-founder, Maurice Iwunze.

"We believe in the power of accessible credit and the transformative impact it can have on individuals' lives. With this innovative partnership, we are leveraging the support of loved ones in the diaspora to create an inclusive financial ecosystem that unlocks countless possibilities for our customers. Through this credit card solution, Nigerians will have the ability to access credit instantly, enhancing their financial capabilities and empowering them to pursue their aspirations without constraints," announced Veend's CEO and co-founder, Olufemi Olanipekun.

SympliFi
Unit 6, Queens Yard, White Post Lane, London, E9 5EN
Azalea Carisch, Head of Communications
azalea@symplifi.co
https://www.symplifi.co/

About SympliFi:
SympliFi is a financial technology company that builds solutions to transform the way people in emerging markets access credit, for productive uses. SympliFi's mission is to create economic opportunity and accelerate financial inclusion in emerging markets by radically increasing access and radically decreasing the cost of credit. The company is based in the UK with operations in Nigeria, Kenya and Rwanda.
https://www.symplifi.co

About Veend:
Veend is shaping the future of financial services by enabling financial institutions and merchants to easily embed credit into various ecosystems profitably and at scale.
https://veendhq.com/borderless-credit

This release was published on openPR.