PayHippo is making it easier to finance small and medium sized businesses in Africa.

Problem
There is a need for financing of $158 bn for SMEs in Nigeria, our beachhead market.

When SMEs do get access to capital, there is a negative feedback loop. These SMEs fail to utilize lender capital effectively and default on repayment because they:
- Access needed capital too late following a long and disconnected lender process.
- Fail to identify key growth aspects of their business which need funding.
- Spend lender capital inefficiently (i.e. on items with minimal impact of their growth).

Solution
PayHippo helps SMEs access and spend lender capital effectively through these solutions:
- On-Demand Loans – We fulfill SME loan requests in 3 hours based on machine learning.
~21 times faster than digital SME lenders.
- Bank Statement PDF Parser – We assess a businesses cash flow needs and monitor capital usage.
-Buy Now Pay Later – We allow SMEs to buy inventory and goods from larger en...
PayHippo is making it easier to finance small and medium sized businesses in Africa.

Problem
There is a need for financing of $158 bn for SMEs in Nigeria, our beachhead market.

When SMEs do get access to capital, there is a negative feedback loop. These SMEs fail to utilize lender capital effectively and default on repayment because they:
- Access needed capital too late following a long and disconnected lender process.
- Fail to identify key growth aspects of their business which need funding.
- Spend lender capital inefficiently (i.e. on items with minimal impact of their growth).

Solution
PayHippo helps SMEs access and spend lender capital effectively through these solutions:
- On-Demand Loans – We fulfill SME loan requests in 3 hours based on machine learning.
~21 times faster than digital SME lenders.
- Bank Statement PDF Parser – We assess a businesses cash flow needs and monitor capital usage.
-Buy Now Pay Later – We allow SMEs to buy inventory and goods from larger enterprises now and then later repay PayHippo. (Currently in beta-testing).

Traction
After starting in late 2019, here are 2020 highlights:
- Processed 1200+ loans
- Disbursed almost half a billion naira at 97% repayment rate
- Reached $16k USD monthly revenue (nearly 4x the revenues of six months earlier)
- Over 250+ SMEs using our platform including retail pharmacies, mobile money agents, supermarkets, food distributors, Releaf (YC W18), and more.

Market
Sector: SME Financing
Beachhead market: NIgeria
40 million SMEs and 200 million people.
There is a huge need for capital: The gap of SME financing in Nigeria is USD $158bn.
Lagos, Nigeria is the 17th largest city in the world.
Africa has the fastest growing middle class in the world, creating more demand.

Team
Our 3 co-founders have worked together before PayHippo and each have founding experience.

Zach Bijesse, CEO
Zach has startup CEO experience and worked in digital lending in Nigeria. Before working in Nigeria he was an award-winning math and science teacher in Manhattan.

Chioma Okotcha, COO
Chioma started the Nigeria division of Teach for America as Head of Operations. Before this she studied policy, including microfinance policy, while getting her masters degree at SciencesPo Paris.

Uche Nnadi, CTO
Uche was previously CTO at SeatJoy in the Bay Area before becoming PayHippo’s CTO. In addition to having done engineering in the credit fintech space, he has spent the previous 4 years managing Nigerian engineers.
More information

Investors