Nigerian fintech startup Vittas is a digital lender that utilises machine learning and partnerships in order to provide loans.
Founded in July 2019 by Sulav Singh and Collins Uche, with its first loan going out in January 2020, Vittas built an inventory financing solution for Nigerian healthcare providers that allows them to purchase medications and medical equipment.
It is also providing accounting and inventory software and POS terminals through two partners to our customers to increase its revenue while also getting access to this data to improve its risk assessment.
“Vittas operates through a partnership model. If a customer is approved for a loan, the funds are sent to our distribution partners, who have signed exclusive contracts with us. This ensures the funds are going to what Vittas has classified as revenue generators, like medication and medical equipment, not other operational expenses. The partnership significantly reduces our risk,” Singh told Disrupt Africa.
The initial…
