CredPal, the Nigerian buy now, pay later (BNPL) startup, has launched Atom, an investment platform that will give African investors access to Nigerian stocks, digital assets and US securities.
The new platform expands the company’s business beyond consumer lending, allowing it to serve customers interested in investing and trading financial assets alongside its existing credit services.
Atom will operate separately alongside CredPal’s lending business, which has disbursed more than $100 million in credit, according to information shared by the company. Brandspur Banking News Desk reports that CredPal has not disclosed the number of customers who have used its credit services.
Founded in 2018, CredPal built its business around a buy now, pay later model that enables customers to spread the cost of purchases across four instalments. The service allows consumers to access products without paying the full amount upfront.
The launch of Atom marks a new phase for the startup as it moves into investment services. The platform is designed to give African users access to different asset classes, including shares listed on the Nigerian market and US securities, as well as digital assets.
For Nigerian investors, access to local and foreign securities through one platform could provide another route to participate in financial markets. However, the company has not disclosed further details about Atom’s fees, minimum investment requirements or the specific digital assets available.
CredPal joined the Y Combinator startup accelerator in 2019, a year after its founding. The company last raised $15 million in debt and equity financing in 2022.
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Its latest move comes as fintech companies continue to explore services beyond payments and consumer credit, with investment platforms offering another potential source of growth. Atom’s performance will depend on its ability to attract investors and establish confidence in the range of assets it makes available.
