Payhippo
Payhippo is a fintech company based in Lagos, Nigeria, specializing in providing quick loans to small businesses across Africa, with a high repayment rate of 97%.
Company Overview
Payhippo operates within the fintech industry, specifically focusing on the credit and lending sub-industry. The company is based in Lagos, LA, Nigeria, with remote operations including a fully remote team. Launched in 2021, Payhippo is dedicated to providing loans to small businesses in Africa quickly, with a promise of processing time under three hours. As of July 2021, the company generated $42k in revenue in Nigeria, showing a strong month-over-month growth rate of 25%.
Team and Remote Operations
Payhippo's team comprises 11 members, and the company embraces a flexible work environment with remote operations. In addition to its base in Lagos, Nigeria, Payhippo operates fully remotely, allowing it to attract talent and serve clients across Nigeria and Africa efficiently. The company's lean team structure and remote capabilities enable it to quickly respond to clients' needs and market demands.
Participation in Y Combinator
Payhippo was part of Y Combinator's S21 batch, which provided the company with valuable resources and mentorship to refine its business model. Being associated with Y Combinator allows Payhippo to leverage an extensive network of advisors and other startups, contributing to its rapid growth and innovative approach to credit and lending in the fintech industry.
Loan Services for Small Businesses
Payhippo offers fast and reliable loan services specifically tailored for small businesses in Africa. The company prides itself on its ability to deliver loans in under three hours, making it a crucial partner for businesses requiring urgent funding. Payhippo has achieved a notable 97% repayment rate, reflecting the strong trust and financial reliability among its clients.
Revenue and Growth
Payhippo has demonstrated significant financial growth since its inception. The company's revenue in Nigeria for July 2021 was $42k, augmented by a consistent 25% month-over-month revenue growth. This financial trajectory underscores Payhippo's effective business model and its pivotal role in supporting financial accessibility for small businesses in Africa.
