Evolve Credit
Founded 2019 · 7 employees on LinkedIn · 5 known investors
EvolveCredit publishes content focused on lending strategies, loan recovery, and loan collection for lenders. The available page content consists of blog-style articles on lending topics rather than a clear product description.
Also known as EvolveCredit
Founders & leadership
Evolve Credit was founded in 2019 by Daniel Osineye.
Investors · 5
Company profile
researched Aug 2026Evolve Credit is a software-as-a-service lending and banking platform for financial institutions. Its flagship product, Configure, is a core lending infrastructure suite that allows lenders to create, launch and manage credit products end-to-end, covering loan creation, repayment scheduling, disbursement, collections and real-time portfolio performance tracking. The suite is packaged as four modules — a customer-facing landing page with integrated application forms, a member portal, an admin dashboard and an origination portal — and is sold in three product lines: Configure Lending, Configure Deposits and Configure Recovery, the last built specifically for debt recovery workflows. Product lines support consumer lending, SME lending and group lending.
Platform capabilities described by the company include custom application links so borrowers can apply from any device without a dedicated loan app, integrations with multiple credit bureaus, direct retrieval of bank statements from banks, multiple identity-verification options, one-click disbursement to borrower bank accounts, in-built borrower messaging, wallets, loan transaction tracking and analytics/reporting dashboards. The company markets service-level commitments it calls Configure Guarantees, covering uptime, security breaches, one-hour response times, bug-fix turnaround within 24 hours, going live within four weeks, and regulatory compliance.
At launch the business operated differently: it began as an online marketplace where Nigerian consumers and small businesses could find information on loan products, receive personalised recommendations and apply for loans, alongside backend software for lenders to receive applications, manage portfolios, automate credit scoring, and disburse and collect payments.
Founding story
Akan Nelson observed, while working as a process analyst at UBA Nigeria, that an information gap left many Nigerian borrowers unaware of available loan products and vulnerable to predatory lending, while over 1,000 licensed money lenders, microfinance banks and commercial banks with more than 10,000 loan offers were constrained by offline distribution. He teamed up with software engineer Daniel Osineye to launch Evolve Credit in April 2019, with Nelson as CEO/CFO and Osineye as CTO.
Business model
Evolve Credit sells cloud-based lending software to financial institutions on a B2B SaaS basis. In its earlier marketplace phase the company described charging lenders a monthly licensing fee for the cloud software, plus a commission on every converted lead generated or a revenue share upon successful collection of a loan product.
Subscription/licensing fees from financial institutions using the Configure platform, historically supplemented by lead-generation commissions and revenue share on loan collections. Subscription is stated to begin only after successful launch of the platform.
Traction
By October 2020 the platform reported more than 15,000 registered users, over 5,000 loan applications and over 20,000 monthly visitors, with lenders including Carbon, Lendigo and PennyLender onboarded. The company's website cites operational claims of 4x accelerated loan processing, greater than 95% precise credit decisioning, average customer support response under five minutes and average time-to-market of five days.
Latest developments
The company continued publishing lending-focused articles in January and February 2025 covering loan liquidation, lending strategies and instant loan collection methods on Configure, and markets a 30-day transition to digital banking for credit unions, fintechs and microfinance banks.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Positioned as a core lending infrastructure provider for microfinance players, upstart lenders and non-bank providers, primarily in Nigeria, as an alternative to building in-house lending software. A third-party investor directory classifies the company as seed-stage B2B SaaS in fintech and payments and lists Blend, Savvy Money, Credable, Lendflow and Advance as similar companies.
The company emphasises configurability of the platform to a lender's eligibility criteria and risk appetite, short time-to-market versus in-house builds, and contractual service guarantees (uptime, security breach, one-hour response, 24-hour bug fixes, four-week go-live, compliance) under which fees are discounted or waived if commitments are missed.
Technology
Cloud-based core lending platform with modular front-end and back-office components, credit-bureau integrations, direct bank-statement retrieval, identity verification, automated credit scoring and decisioning, one-click disbursement, wallets, and analytics and reporting tooling. The company states institutions can migrate existing data and transition to digital banking within 30 days, with go-live targeted in four weeks.
Go-to-market
Direct enterprise sales driven by inbound demo requests on the company website, supported by content marketing through blog articles on lending strategy, loan recovery and collections, plus an email newsletter. The contact page defaults to Nigeria and lists a Nigerian phone line operating 9am-5pm WAT. Named lender relationships in the earlier marketplace phase included Carbon, Lendigo and PennyLender as onboarded partners, with FairMoney, CIT Microfinance Bank and Branch among other lenders listed on the platform.
Credit unions, fintechs, microfinance banks, upstart lenders, non-bank credit providers and other financial institutions; earlier marketplace activity also served Nigerian individual and SME borrowers.
Geography
Operations centre on Nigeria, with a Nigerian contact phone line and support hours in West Africa Time; the website lists a corporate address at 251 Little Falls Drive, Wilmington, Delaware, USA.
History
The company dates its journey to 2019, with the founding team coming together in April 2019 around a goal of making lending more accessible, affordable and transparent. The consumer-facing marketplace went live in May 2020, a six-figure pre-seed round was closed in September 2020, and a public launch followed in October 2020. The offering subsequently consolidated around Configure, a core lending suite for financial institutions spanning lending, deposits and recovery.
Risks & controversies
In its marketplace phase the company identified onboarding offline lenders as its biggest challenge and flagged a risk of consumer drop-off because most partner lenders operated offline while consumers expected to complete applications online.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsEvolve Credit publicly launched its marketplace for finding, reviewing and applying for loans and financial products in Nigeria.
Evolve Credit closed a six-figure pre-seed round to scale operations, backed by Microtraction, Ingressive Capital, Future Africa and Samurai Incubate.
The company's online loan marketplace and lender software went live in May 2020.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Evolve Creditevolvecredit.co · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Evolve Credit do?
- Evolve Credit is a SaaS lending and banking platform whose Configure suite lets financial institutions run credit products end-to-end.
- Who founded Evolve Credit?
- Evolve Credit was founded by Daniel Osineye in 2019.
- Who are Evolve Credit's investors?
- Evolve Credit's investors include Ingressive Capital, Microtraction, Future Africa, MAGIC Fund, Samurai Incubate.