By Kingsley Adegboye
To face the difficult and tedious process of financial empowerment, Sycamore.ng is poised to advance the credit culture in Nigeria, providing secured loans to individuals, micro, small and medium enterprises through the establishment of ‘a peer-to-peer lending platform. .
According to a press release from the firm, âSycamore believes it has a solution to bring financial freedom to its clients by connecting individuals or businesses looking for a good opportunity to diversify their income with responsible borrowers.
âAs a subscriber to the platform, you have the possibility either to identify and select the credit contracts yourself, or simply to opt for autonomous management of your portfolio. Our platform offers a compelling combination of liquidity, low volatility and attractive returns â.
Sycamore CEO Tunde Akin-Moses said in the statement: âIt’s no secret that access to finance is one of the main issues affecting the rapid growth of individuals and businesses in Canada. Africa. Our mission is to empower individuals to accomplish more through organized lending and borrowing â.
Further, Company Marketing Director Miss Onyinyechukwuka Okonji said, âSycamore’s growth so far has been based on excellent customer experience and effective word of mouth marketing. Improved marketing efforts are being made to attract new lenders and credible borrowers â.
The company’s COO, Mr. Mayowa Adeosun, said, âThere is a market with the Sycamore P2P loan with investments designed for people who seek long-term capital preservation and growth. This fund offers competitive returns compared to the average of online lenders â.
The chairman of the board of directors of the company, Mr. Bade Aluko, who is also chairman of GNI Plc, also attested to the importance of the vision of Sycamore, insisting on the use by Sycamore of solid alternative data to make accurate financial decisions that generate the most value for both lenders. and borrowers.
Established in 2018 on the initiative of three Lagos Business School graduates – Tunde Akin-Moses, Onyinyechukwuka Okonji and Mayowa Adeosun, Sycamore has successfully facilitated 9-figure transactions since its inception. Sycamore has structured their business holistically around Sustainable Development Goals (SDGs) one, eight and ten (1, 8 and 10). With one loan at a time, Sycamore helps reduce poverty, foster economic growth and decent work, and reduce inequalities by providing the springboard needed for small businesses to move to large businesses. Sycamore is licensed by the Money Lenders Act Cap 52, integrates solutions, such as Flutterwave infrastructure, Paystack, Remita, NIBSS and BVN, among others.