Akrod Limited

About Akrod Limited

Akrod Limited is a financial technology company focused on enhancing financial inclusion for vulnerable and excluded populations. The firm provides a software-as-a-service (SaaS) platform to microfinance institutions (MFIs), aiming to digitize their operations.

The company was founded by Frederic Nze. Akrod's core offering is a platform that leverages mobile technology, data science, and machine learning to convert traditional microfinance operations into automated digital lending systems. This transformation is designed to significantly reduce origination and servicing costs for the MFIs. By lowering the operational expenses for lenders, the platform aims to improve the accessibility and affordability of credit products for end-borrowers.

The business model centers on providing this technology to microfinance lenders. These clients use the platform to streamline their processes, from loan application to servicing, thereby improving their efficiency and scalability. The system's use of alternative data and machine learning allows for more inclusive credit assessment, enabling MFIs to serve individuals who might be excluded from traditional banking services due to a lack of formal credit history. The company entered liquidation proceedings around June 2023, having previously received backing from the UK's Future Fund.