UnaFinancial, a fintech group headquartered in Singapore, has launched digital lending service Kredio in South Africa, its first market on the African continent.
Kredio offers consumers digital loans ranging from 500 to 8,000 rand ( US$30.48 to US$487.69 ), with repayment terms of seven to 45 days.
The application process is easy: an automated credit check delivers a decision, and approved funds are paid to the borrower's bank account within minutes, with no branch visits. The company is registered with the National Credit Regulator.
South Africa has one of the continent's most developed financial markets, and demand for credit outside traditional banks is growing. Alternative lenders increased personal loan originations by 11.5% year on year in Q1 2025, and 35% of surveyed consumers plan to use alternative credit within the next year.
However, formal credit remains out of reach for many account holders. According to the World Bank's Global Findex Database 2025, 81% of adults had a financial account, but only 13% borrowed from a formal financial institution.
UnaFinancial CEO Sergey Sedov comments: "Expanding access to credit at scale depends on the ability to assess borrowers quickly and accurately. Over the years, we have built lending technology and scoring models that do this in markets with very different environments.
“For South Africa, we have adapted this infrastructure to local regulation, data sources and borrowing behaviour. We believe the service will meet the needs of South African borrowers and help close the gap in access to finance."
Since its establishment in 2015, UnaFinancial has grown to more than 20 million registered clients, granting access to loans worth over US$3 billion.
