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Lydia: Nigeria’s first online-only bank goes live

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The duo of Tunde Kehinde and Ercin Eskin have kickstarted Nigeria’s first online-only bank, LYDIA.

“Marketed as a digital bank that will have no branches, Lidya will be based in Lagos, Nigeria’s commercial capital, and offer small and medium-sized businesses unsecured loans of between $500 and $15,000. While it will initially focus on Nigerian customers, Lidya will target cities across Africa, according to Tunde Kehinde, a co-founder.” – Bloomberg

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Tunde was former MD of Jumia Nigeria and Harvard Business School graduate.

The digital bank is set to go live in the coming weeks

Source: Bloomberg

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