Company Overview
Snapshot
Founded in August 2015 by Nadav Topolski and Tomer Edry, FIDO operates with 201–500 employees. The company has raised $60 million across two funding rounds from four investors. In September 2024, FIDO secured a Series B round with FMO and BlueOrchard as lead investors, signaling continued investor confidence in its digital lending model.
Business overview
FIDO is a technology-driven financial service provider specializing in short-term loans for underserved markets. The company leverages proprietary machine-learning technology to deliver fully automated, end-to-end credit products to entrepreneurs and consumers via mobile platforms. FIDO operates within the Fintech & Insurtech sector, focusing on lending and financing, and serves markets primarily in Ghana and the Philippines, with a broader presence in Africa.
Strategic signal
In September 2024, FIDO successfully closed a Series B funding round, with impact investors FMO and BlueOrchard participating. This investment highlights continued confidence in FIDO's digital lending model and its strategy for expansion within emerging markets, particularly in Africa. The funding reinforces FIDO's position as a key player in providing responsible credit products to underserved populations, signaling potential for accelerated growth and market penetration.
Log in to access full profile ›Company Intelligence Q&A
- What was a significant recent funding event for FIDO?
- In September 2024, FIDO secured a Series B funding round, with FMO and BlueOrchard as lead investors, to support its digital lending operations.
- Which investors participated in FIDO's Series A round?
- In June 2022, FIDO raised a Series A round with Fortissimo Capital as a lead investor.
- What is FIDO's primary market focus?
- FIDO primarily focuses on providing short-term loans to underserved markets, with significant operations in Ghana and the Philippines, and a broader strategic interest in Africa.
- When did FIDO launch its services on iOS for iPhone users in Ghana?
- In March 2023, FIDO launched its application on iOS, making it available for iPhone users in Ghana.
- What technology underpins FIDO's financial services?
- FIDO utilizes proprietary machine-learning technology to offer fully automated, end-to-end responsible credit products through mobile platforms.