Nigeria’s OneFi secures $5m debt facility for its Paylater mobile platform – Ventureburn

Lagos based finance company OneFi today announced that is has secured a $5-million debt facility from New York and Nairobi-based debt platform Lendable.

In a statement today (8 March), OneFi said the investment will be used to deploy more loans on its consumer facing mobile platform Paylater. The platform also helps users transfer money, recharge airtime and pay bills.

OneFi was founded in 2012 by CEO Chijioke Dozie and director Ngozi Dozie. Business intelligence platform Crunchbase estimates that — excluding this latest investment — OneFi has raised a total of $10.8-million across three funding rounds.

OneFi was founded in 2012 by CEO Chijioke Dozie and director Ngozi Dozie

OneFi CEO Chijioke Dozie (