Migo
Acquired1 known investors
Migo is a Credit-as-a-Service platform that lets companies offer credit to their customers using AI-powered credit scoring.
Also known as Migo Africa · Mines.io
Investors · 1
Company profile
researched Aug 2026Migo, formerly known as Mines.io, is a US-based fintech company operating a digital credit platform. Its technology enables companies to extend credit to their own customers, augmenting traditional bank and payment card infrastructure. The platform is positioned as Credit-as-a-Service and uses AI-driven credit scoring to underwrite loans.
The company's principal market has been Nigeria, where it built its digital lending business, with expansion also directed at Brazil. Executives associated with the company include chief executive Ekechi Nwokah, Adia Sowho and Kunle Olukotun.
Founding story
Migo was founded in 2014 by a Nigerian team including Kunle Olukotun, a Stanford University professor, and Ekechi Nwokah, a computer scientist who previously worked at Amazon Web Services' A9.
Business model
Migo provides credit infrastructure to businesses rather than lending directly under its own consumer brand, enabling partner companies to offer loans and credit to their end customers.
Latest developments
First Ally Capital acquired a 60% stake in Migo's Nigerian operations in a deal reported in June 2025, following a 2024 merger of the global Migo team with Mathesis Analytics.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Migo operated in Nigeria's competitive digital lending market, reaching product-market fit there with support from early seed investor First Ally Capital before its Nigerian unit was taken over by local financial and analytics owners.
Technology
The platform applies AI-powered credit scoring to underwrite and extend credit to customers of partner companies, operating alongside rather than through traditional bank and payment card rails.
Go-to-market
Companies that want to offer credit or loans to their own customers, particularly in markets where traditional bank and card infrastructure has limited reach.
Geography
Migo is US-based with its principal operating market in Nigeria; its 2019 Series B was raised to support expansion in Nigeria and Brazil.
History
The company originally operated under the name Mines.io before rebranding to Migo. In December 2019 it closed a $20 million Series B round led by Valor Capital Group, intended to fund expansion in Nigeria and Brazil. In 2020, CEO Ekechi Nwokah was selected to join Endeavor at the organization's first virtual International Selection Panel. In 2024, the global Migo team merged with Mathesis Analytics, which took over full ownership of Migo's Nigerian arm, amid a difficult funding climate for technology startups. In June 2025, First Ally Capital — an early seed investor in Migo — acquired a 60% equity stake in the Nigerian operations from Mathesis Analytics after approval from Nigeria's Federal Competition and Consumer Protection Commission.
Compiled by commissioned research from 4 cited public sources — announcements, filings, and press listed under research sources below.
Timeline · 3
launches, deals, and filingsFirst Ally Capital, an early seed investor in Migo, acquired a 60% equity stake in Migo's Nigerian operations from Mathesis Analytics after approval by Nigeria's Federal Competition and Consumer Protection Commission.
The global Migo team joined forces with Mathesis Analytics amid a challenging startup funding climate; Mathesis Analytics took over 100% ownership of Migo's Nigerian arm.
Migo CEO Ekechi Nwokah was selected as one of seven entrepreneurs to join Endeavor at the organization's first virtual International Selection Panel.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 4
primary sources listed
- MIGO Corporation Limitedmigo-corp.com · web
4 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Migo do?
- Migo is a Credit-as-a-Service platform that lets companies offer credit to their customers using AI-powered credit scoring.
- Who are Migo's investors?
- Migo's investors include AppWorks Ventures.