Credrails, which launched in 2020, is building Africa’s open finance rails by linking bank, mobile money, and offline data into a single API, which it then exposes to other businesses to build a variety of use cases like lending analytics, KYC, and KYB. This API links every African country, making it simple and quick for developers to build for Africa. The company already has a physical presence in Nigeria and access to 250 million accounts across 33 countries. Its goal is to connect all of Africa, which has been aided by an undisclosed amount of seed investment received last month. SoftBank, Unicorn Growth, Samos Ventures, and Precursor are among the investors. According to Clara Odero, the company’s CEO and co-founder, the future of financial services depends on developers’ skills to design new solutions while quickly upgrading existing ones. Credrails provide them access to a variety of rich data sources in an open and secure manner. Credrails solutions also promote cross-service interoperability, resulting in faster and cheaper money transfers across Africa and beyond.
