Regxta disburses ₦10 billion to micro-businesses using alternative-data credit scoring

Lagos-based Regxta Global Services Limited disbursed over ₦10 billion in loans to individuals and micro-business owners across Nigeria, expanding a credit model for borrowers with little or no conventional credit history. This milestone comes as many small businesses and informal-sector borrowers face challenges accessing credit, often relying on formal identification, documented income, collateral, and established borrowing history, which many micro-business owners lack.

To bridge this gap, Regxta developed a lending model combining alternative customer data with an agent-led distribution network. Since its launch in October 2023, Regxta has written more than 100,000 loans and onboarded 35,000 customers. Previously, Regxta's loan record-keeping and monitoring were manual, making it difficult to track the loan book and identify repayment issues.

The company's Chief Technology Officer, Moses Obika, aimed to move away from scattered manual processes by introducing a central system for tracking loan activity, enabling real-time visibility into the portfolio. This system, developed over a year, assesses customers with no credit history and no collateral, offering visibility into the portfolio in real-time.

The alternative information used by Regxta allows borrowers to establish a financial record even without one. The agent network continues to reach customers who may not complete an entirely digital lending process. Regxta's lending volumes have grown from ₦10,000 in the platform's first month to over ₦10 billion in cumulative disbursements.