Kenyan fintech startup, Alternative Circle has raised US$1.1 million in funding from international credit risk management company Creditinfo Group to help it expand its business across Africa.
The funding arrangement with Creditinfo will give Alternative Circle the opportunity to work with companies and professionals in classic and alternative credit risk management.
Kevin Mutiso, the chief executive officer (CEO) of Alternative Circle said: “Partnering with Creditinfo Group will not only redefine the way risk is evaluated in Kenya and the world but it will also bring on to the credit-ecosystem several SMEs that can now achieve their potential.”
Commenting the CEO and founder of Creditinfo Reynir Grétarsson said: “Alternative Circle has the stamina to succeed in this competitive market, and we look forward to winning new markets with them. The acquisition of Coremetrix last year, our psychometrics company, enabled Creditinfo to win new markets fast. The strategic partnership with Alternative Circle is expected to further enable Creditinfo to gain extremely valuable consumer data that was not available in the market before.”
