FairMoney offers a different way to borrow money online without collateral – Techpoint Africa


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A little over a year ago, in March 2018, FairMoney, an online lending platform, launched in Nigeria. Now, by disbursing more than 1,500 loans a day, the company has helped thousands of individuals and small businesses move closer to their dreams and, most importantly, access critical financing made possible by the power of technology.

Customers access instant loans on FairMoney without collateral, full documentation, or office visits, which generally makes borrowing money stressful for users.

FairMoney takes the customer experience to the next level and has launched an upgraded Android app to reflect this as it enters the next phase of growth. The new FairMoney app is easier to use and reflects the new brand that embodies the vision of providing access to financial services to everyone in Nigeria.

According to Joy Uzuegbu, Head of Growth and Marketing at FairMoney, the short-term loan provider has optimized its algorithms and improved the overall customer experience.


How to get a loan on FairMoney

Getting a loan on FairMoney is easy and straightforward, as described in a few steps below:

Download the Android app from the Google Play Store
Sign up or log in with your phone number or Facebook profile
Create your profile (for new users) and / or submit an application.
Receive money in your bank account within minutes.

In addition, clients can access higher amounts up to N150,000 and 3 month installment loans. Customers with a positive loan history could also benefit from flexible interest rates.

While Nigerian society has a kind of love-hate relationship with borrowing, there are many use cases for a product like FairMoney. From personal needs like paying bills, shopping and family addictions to business loans to start that side business or to build a credit profile, FairMoney’s loan product covers a wide range of options.

FairMoney’s proposition appears to be built around customer focus, secure technology, and speed – all of this makes sense for an online lending service that doesn’t rely on collateral to reduce loan risk. His 4.3 star rating on the Google Play Store validates this proposition to some extent. If you are interested in short term, quick loans that do not require collateral or an office visit, FairMoney is a good place to start.

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