# EvolveCredit

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/evolvecredit

- Industry: Financial Services
- Headquarters: Lagos, Nigeria
- Website: www.evolvecredit.co
- Total disclosed funding: $0M
- Latest round: Seed (Oct 8, 2020)
- Investors on record: 2

## About

Evolve Credit is a financial technology company offering a robust SaaS platform tailored for effective loan management and recovery, aimed at optimizing lending processes for financial institutions.Founded in 2020, Evolve Credit operates from Lagos, Nigeria, providing a platform for loan management and recovery solutions. The company was co-founded by Akan Nelson and Daniel Osineye, with Akan Nelson serving as the CEO. Evolve Credit has successfully completed three deals, with the most recent being a Seed round in October 2020, raising USD 30,000 led by Microtraction alongside Ingressive Capital. The company has raised a total of USD 30,000 and currently holds a valuation of USD 360,000.Evolve Credit specializes in providing a comprehensive SaaS lending and banking platform designed to address the complexities of loan recovery and management. Their core offerings enhance lending strategies, facilitate effective collection processes, and improve financial performance for clients within the lending industry. The platform integrates advanced tools for loan liquidation, enabling lenders to manage outstanding balances and recover funds from defaulters, often through collateral liquidation such as real estate or vehicles. Evolve Credit primarily serves financial institutions, credit unions, and alternative lenders across North America and Europe, delivering innovative solutions to optimize lending operations and enhance customer experiences.Evolve Credit generates revenue through a subscription-based model, allowing clients to access their solutions as needed. This transactional structure fosters ongoing partnerships with financial institutions and lending organizations, where clients pay for tiered service plans based on usage of the platform's features. The distinct pricing tiers include access to specialized tools for loan management, reporting, and analytics, ensuring consistent revenue streams while delivering valuable solutions that meet the evolving needs of the lending market.In October 2020, Evolve Credit raised USD 30,000 in Seed funding aimed at scaling its product that enables users to compare loans and access unbiased insights from experts. The company plans to launch new features enhancing loan comparison capabilities and is focused on expanding into markets in Europe and North America by the end of 2023. This funding will support the development of these upcoming products and facilitate the market expansion strategy.

## Funding rounds

- Seed, Oct 8, 2020, $0M — Ingressive Capital, Microtraction

## Investors

- Ingressive Capital (https://capitalatlas.ai/funds/ingressive-capital) — Seed
- Microtraction (https://capitalatlas.ai/funds/microtraction) — Seed