What is CredPal and how does it work?

CredPal is a Nigerian fintech platform that provides a unified app for payments, savings, credit, and investments. It works by allowing users to create an account, get evaluated for a credit limit based on their financial profile, and then use that credit to make purchases online and offline, with options to pay in installments or access savings and investment features.

How much does CredPal cost?

CredPal's Buy Now, Pay Later service is interest-free if paid on time. For savings accounts, CredPal offers up to 26% yearly interest. Loans range from 5,000 to 500,000 nairas with interest rates between 4% and 9% depending on the loan term.

What countries does CredPal operate in?

CredPal operates primarily in Nigeria, based in Lagos. The company has indicated plans to expand its offerings across the continent.

How do I sign up for CredPal?

You can sign up by downloading the CredPal mobile app on Android or iOS, creating an account, and providing personal information to access the financial services.

Does CredPal have a mobile app?

Yes, CredPal has a mobile app available on both Android and iOS platforms, with over 100,000 downloads on Android.

Who is CredPal best suited for?

CredPal is suited for individuals seeking flexible payment options, savings solutions, and credit access; small business owners and merchants looking to offer installment payments to customers; and people with little or no credit history who want to build their credit scores.

Does CredPal have a plan for teams or businesses?

Yes, CredPal for Business allows merchants to accept flexible payments through online checkout, in-store payment terminals, or payment links. Customers can split purchases into 4 interest-free payments or up to 12 monthly payments, and businesses receive instant payment while CredPal handles customer repayments.

CredPal

🇳🇬 Nigeria

A Buy Now, Pay Later platform that lets Nigerian shoppers pay in instalments using a mobile app, card, or merchant checkout, with KYC-based credit limits.

Use it on:Web Android· 4.4 iOS· 4.4API

Is CredPal right for you?

Best for

Nigerian online shoppers
Pay in instalments
Checkout split payments
Card-based purchases
Repeat retail buyers

What it does well

Interest-free instalments
Merchant checkout payments
KYC credit limits
Virtual and physical cards
Bill payments in-app

Things to check

Eligible merchants list
Credit limit rules
Repayment schedule options
Card vs app checkout
Rewards terms

CredPal is a Buy Now, Pay Later (BNPL) credit platform for consumers who want to shop online or in-store and repay over time through instalment plans.

Key capabilities include:

Pay Later instalments for purchases, including pay in 4 interest-free payments, payment within 30 days, or paying over time (tenure varies by plan)
Multiple ways to pay through the CredPal app, the CredPal Card for everyday spending, and QR code payments at partner stores
Credit access at checkout with KYC-based identity verification (including BVN use) and creditworthiness assessment to set and review spending limits
Account and transaction security with multi-factor authentication, encryption, and continuous transaction monitoring

Available on Android and iOS via the mobile app; also supports web checkout integrations for partner merchants.

It targets B2C users, especially salaried Nigerians and working professionals who want flexible payment options for essentials and larger purchases.

Notable in the Nigerian market for combining BNPL, a dedicated card, and merchant checkout integrations, and for operating credit services via Dawakin Kudu Microfinance Bank Ltd, which is licensed and regulated by the Central Bank of Nigeria.

As of Jul 6, 2026, CredPal is rated 4.4 on the App Store from 3.8K reviews and 4.4 on Google Play from 7.9K reviews with 500K+ installs.

Phone:+234 818 000 9193

Social Links:

Categories:

Fintech

Features & Business Model:

b2c bill-payments bnpl loyalty-rewards marketplace physical-cards virtual-cards

Frequently Asked Questions About CredPal

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DD Dave found that CredPal has raised $16.9M across 8 rounds, backed by 12 investors. Their latest round was a Venture (Round not Specified) in Jun 2022. See how we get product data