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Home Companies Corporate Updates

How Aladdin Digital Bank is strengthening Africa’s SMB economy

NM Partners by NM Partners
May 17, 2022
in Corporate Updates
How Aladdin Digital Bank is strengthening Africa’s SMB economy
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With the exponential rise in active internet users, small African businesses are migrating online in large numbers and face severe identity and fraud issues. They patronise fragmented solutions by downloading several apps to run their businesses effectively.

These issues gave birth to Aladdin, a digital ecosystem bank that provides small businesses with quick access to loans, high-interest savings and investments, a robust marketplace of over 40,000 sellers and buyers and a social feed to foster interaction between all customers in one digital app.

Aladdin Digital Bank has achieved significant milestones since it launched in January 2021. It recently announced its successful closing of a debt-financing deal up to $3.5 million. This debt-financing will power its digital lending products to provide a wide range of loan options, including; Nano, micro, salary, auto, SME loans, et cetera. It successfully launched its Nano loans product and has begun rolling out its salaried employee loans product up to $10,000.

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In addition to accessing loans, users can save and invest in high yielding products, make and receive payments, buy and sell products and services and services and interact with other users on Aladdin

In the last couple of months, Aladdin Digital bank has transformed from a digital bank app to a full-scale financial platform for individuals, freelancers and SMEs. Thereby, it continues to build and improve upon its digital financial products on its banking platform, all to help grow its customers’ businesses.

Therefore, Aladdin is undoubtedly on track to become one of Africa’s leading ecosystem banks that supports the SMB economy because of its unrelenting support and provision of the financial, commercial, and social tools they need to thrive.

Become an investor in Aladdin

Aladdin’s vision is to create a digital bank to help SMEs and freelancers across Africa access more financial tools and opportunities in one place. They call on investors who share in this vision to invest to achieve this vision faster.

Since December 2021, Aladdin kickstarted its regulated crowdfunding to raise pre-seed of $1,200,000.Thanks to over 300 individual, retail and institutional investors, they have raised over $619,000.

The pre-seed crowdfunding round closed in a few days on 26 May 2022.

You too can join Aladdin’s growing community of investors today with as little as $100 at www.wefunder.com/aladdin from across the globe.  Nigerians and anyone around the globe can also invest in Aladdin for as little as $10 (₦ 5,700) at https://getequity.page.link/3wR81ujgkLpDzCEu7

To learn more about Aladdin Digital Bank, visit www.aladdin.ng or connect with us on Linkedin, Instagram, Facebook, or Twitter.

The mobile app is available for download on both Google play store and the Apple store.

Website: www.aladdin.ng

LinkedIn:@aladdindigitalbank

Instagram: @aladdinbankng

Facebook:@aladdinbankng

Twitter : @aladdinbankng


Follow us for Breaking News and Market Intelligence.
Tags: Aladdin Digital BankSMB
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

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