Access to credit is one of the stumbling blocks for businesses and individuals across Africa. Traditional lenders, constrained by outdated risk assessment models, often struggle to determine the creditworthiness of borrowers, especially those without a formal credit history. As a result, millions of entrepreneurs and consumers remain financially excluded, unable to secure the funding they need to grow and thrive. Thus, Yvonne Johnson, a visionary entrepreneur with a rich background in strategy and technology, co-founded Indicina to transform Africa’s credit infrastructure.
Yvonne Johnson co-founded the company in 2018 with Jacob Ayokunle, Carlos del Carpio, and Yemi Ajao. Drawing on her experience leading the strategy team at First Bank of Nigeria and her background in investment banking at Merrill Lynch, she identified a significant need for data-driven lending solutions throughout the continent.
Indicina is a fintech company that provides API-driven credit infrastructure, enabling lenders to make smarter credit decisions. Banks, digital lenders, and financial service providers use Indicina’s technology to evaluate loan applications more accurately and extend credit to more people, especially those without a formal credit history. Its flagship product is a data-driven lending platform that digitises the entire credit value chain, offering real-time credit scoring and bank statement analysis. This empowers lenders to assess risk more accurately and process loans more efficiently.
Johnson faced numerous challenges in building the platform, particularly in persuading lenders to move away from traditional methods and trust AI models. Her breakthrough came when a mid-sized financial institution gave Indicina’s API-powered system a chance. Within just a few months, the bank saw significant improvements in loan approvals and repayment rates. This success encouraged larger institutions to adopt Indicina’s solutions as well.
Since then, the company has expanded its customer base to over 120 clients, including banks, non-bank lenders, and fintech startups such as Polaris Bank, VFD, Zilla, and CreditDirect. Indicina has processed over 10,000 bank statements, facilitated the processing of $3 billion, and assisted in the disbursement $700 million in loans across two countries.
Indicina has successfully raised capital to support its expansion and product development. In 2020, the company secured an undisclosed six-figure funding round to enhance its product offerings. They also raised an additional $3 million in a seed funding round led by Target Global, with participation from Greycroft and RV Ventures. This funding is aimed at accelerating Indicina’s expansion into other African markets.
Yvonne Johnson’s vision to help lenders make informed decisions and expand their credit offerings responsibly has positioned Indicina as a leading provider of machine learning-driven financial analytics in Africa.
