Dmytro Dubilet's Fintech Farm launches Credit+ lending app in Morocco
Fintech Farm launched the Credit+ project in Morocco, a mobile short-term loan service that operates through local financial institution FNAC.
Fintech Farm launched the Credit+ project in Morocco, a mobile short-term loan service that operates through local financial institution FNAC.
According to Forbes Ukraine, Credit+ operates on the basis of the Moroccan financial company FNAC (Société de Financement Nouveau à Crédit) and is registered in the country’s capital, Rabat. The team positions the product as a service without paperwork: an application is submitted in a few minutes, and the application displays the status, schedule and amount of the monthly payment.
The project focuses on loans for a period of up to three months (within 30–90 days) to cover short-term needs. The monthly rate is fixed for the entire period and is 2,2% (including VAT). The minimum loan amount is 200 Moroccan dirhams, which is approximately $22 (approximately UAH 940). The upper limit is 15,000 dirhams, or approximately $1,649 (approximately UAH 70,650). Repayment is made through fixed monthly payments, and opening an account with Credit+ is declared free of charge.
The launch in Morocco is the latest in a series of launches for Fintech Farm, which builds financial products in partnership with local institutions and scales them to new markets. The team previously launched Leobank in Azerbaijan, Liobank in Vietnam, Simbank in Kyrgyzstan, Roarbank in India, and Tezbank in Uzbekistan, with one in Nigeria set to close in 2023.
Fintech Farm was founded in 2020 by Dmytro Dubilet, Mykola Bezkrovny, and Oleksandr Vityaz. In 2024, the company reported expanding its investment round by $32 million, with Bank of Georgia, whose shares are traded on the London Stock Exchange, among the lead investors.
Previously, dev.ua wrote about how Fintech Farm, a startup founded by three Ukrainians, including monobank co-founder Dmytro Dubilet, launched a neobank called Tezbank. The company currently has neobanks in five countries.
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