Creditchek buys Uganda's Algosys to expand credit infrastructure into East Africa
What's the deal? Nigerian fintech CreditchekDealroom has a profile for this one. Try Dealroom → has acquired AlgosysDealroom has a profile for this one. Try Dealroom →, a Ugandan core banking software startup, marking its formal entry into Uganda. Algosys will operate as a subsidiary, and its team joins Creditchek. Terms were not disclosed.
What does each side bring? Creditchek builds credit, income, and identity data infrastructure for lenders across Africa. Algosys, founded two years ago by Innocent Bigega and Simon Tayebwa, provides core banking software to Saccos, lenders, and microfinance institutions.
The traction: Despite its youth, Algosys already serves 22 financial institutions in Uganda and has facilitated over 10,000 Sacco loans.
What's the endgame? Creditchek wants to own more of the lending value chain — moving beyond selling data to running the full stack. "We want to move beyond simply providing data to lenders and build the infrastructure that enables them to acquire customers, assess risk, make credit decisions, originate loans and manage those loans throughout their lifecycle," said chief executive officer Kingsley Ibe.
Why Uganda, why now? The country is one of East Africa's fastest-growing fintech markets. Ugandan startups raised roughly $30 million in venture funding in 2025 — more than seven times the prior year — making it the region's second-largest funding destination behind Kenya.
The market gap: Uganda counted 34.6 million active mobile-money subscribers in 2025, against about 24 million bank accounts. The World BankDealroom has a profile for this one. Try Dealroom → says 67.7% of adults held a mobile money account in 2024, showing how much activity sits outside traditional banking — a data problem Creditchek claims to solve.
The signal: The deal reflects African fintechs consolidating to build localised, full-stack lending infrastructure. By pairing credit data with core banking software, Creditchek is betting that owning more of the chain — not just one layer — is the path to serving borrowers whose financial lives run through mobile money rather than banks.
Read more: pmldaily.com
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