Grace Ashiru
Fast Credit Limited, a fintech company based in Nigeria, has successfully raised $3.6 million through a groundbreaking Commercial Paper Series issuance. This major accomplishment underlines the faith investors have placed in the firm’s unique business model and strategic vision, as well as its potential for considerable growth.
The funds were raised through three issuances, each with a different tenure. The first, with a yield of 15%, lasted 91 days, the second, with a yield of 16%, spanned 182 days, and the final, with a yield of 17.25%, ran for 270 days. These issuances attracted a broad spectrum of investors, including pension fund administrators, asset managers, and insurance companies. Stanbic IBTC Capital Limited was the Lead Arranger and Issuing and Placing Agent. At the same time, FSL Securities Limited, Planet Capital Limited, and United Capital PLC acted as Joint Arrangers and Issuing and Placing Agents
Reasons for the Investment
Various compelling factors drive investors’ interest in Fast Credit’s Commercial Paper. Fast Credit has demonstrated impressive growth and a solid track record in the financial industry. The company’s use of technology, particularly artificial intelligence and advanced data analytics, has enhanced operational efficiencies and improved customer experiences. This technological prowess positions Fast Credit as a leader in the industry, drawing in investors who see the potential for significant return.
Further boosting investor confidence is Fast Credit’s recent achievement of a long-term investment grade rating of ‘Bbb’ from Agusto & Co and a ‘BBB+’ long-term grade rating with an A2 stable outlook from DataPro. These ratings affirm Fast Credit’s financial stability and city to meet financial obligations, making it an enticing investment prospect for institutional and individual investors.
The oversubscription of Fast Credit’s Commercial Paper issuance underscores the market’s acknowledgment of the unique value proposition provided by the company.
A Look at Fast Credit
Founded in 2014, Fast Credit Limited was created to transform the financial landscape through technology. The company uses artificial intelligence and advanced data analytics to enhance operational efficiency and provide a positive customer experience. Fast Credit primarily serves the Nigerian financial industry, providing innovative products and services to meet the changing needs of its clients. By harnessing technology, Fast Credit seeks to streamline processes, broaden financial access, and foster a more inclusive financial ecosystem.
