FIDO
Short-term Loans for Underserved Markets
Company Overview
Snapshot
Founded in August 2015 by Nadav Topolski and Tomer Edry, FIDO operates with 201–500 employees. The company has raised $60M across two funding rounds from four investors. In September 2024, FIDO secured a Series B round with FMO and BlueOrchard participating.
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. Operating within the Fintech & Insurtech sector, FIDO focuses on responsible digital financing, serving markets such as Ghana and the Philippines.
Strategic signal
In September 2024, FIDO successfully closed a $30M Series B funding round with participation from impact investors FMO and BlueOrchard. This significant capital injection signals strong investor confidence in FIDO's business model and its potential for further expansion in emerging markets, particularly for its digital lending solutions aimed at underserved populations.
Company Intelligence Q&A
- What is FIDO's core business?
- FIDO provides short-term loans to entrepreneurs and consumers in underserved markets, utilizing a fully automated, end-to-end solution powered by proprietary machine-learning technology.
- When was FIDO founded and by whom?
- FIDO was founded in August 2015 by Nadav Topolski and Tomer Edry.
- Which investors participated in FIDO's September 2024 Series B funding round?
- In September 2024, FIDO secured a Series B funding round with participation from FMO and BlueOrchard.
- Where does FIDO primarily operate?
- FIDO is the top financial app in Ghana and has also received a lending license and commenced operations in the Philippines, focusing on markets in Africa and Asia.
- What is FIDO's approach to digital financing?
- FIDO emphasizes responsible digital financing, aligning with the Responsible Finance Forum guidelines and endorsing the Smart Campaign program to provide ethical credit products.