Canadian Fintech Firm Periculum Sets Station in Nigeria, Seeks to Build Credit Assessment Infrastructure for Africa

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Canadian fintech startup and credit assessment company, Periculum, has launched in Nigeria to tackle the challenge of domestic credit to the underserved markets.

Focused on improving financial inclusion in emerging markets through automated credit assessment tools that close the consumer credit gap and help financial institutions provide credit facilities to the financially excluded while making smarter decisions, Periculum officially launched its financial service product offerings at a media interaction today.

The company has also announced the appointment of a Managing Director, Damilola Aluede, to accelerate its business in Nigeria.


Launched in 2019, Periculum helps its banking and lending customers identify fraud risk, assess creditworthiness, and analyze existing data.

Periculum offers real-time decision-making, analysis, and credit underwriting solutions to financial institutions including banks, non-banking financial companies, and fintech companies.

By offering information on the financial worthiness of customers and automating the loan decision process, Periculum’s customers can gather and analyze borrower information and assign a credit score faster, with real outcomes on financial inclusion in Nigeria and other markets.


Periculum offers data aggregation APIs and platform solutions that aggregate data from partners including open banking APIs and the credit bureaus, to provide complete financial and data profiles of prospective borrowers and third-party entities. 

“Africa needs domestic credit to stimulate real economic growth. And this is not only bank-to-business credit; it can also be digital lending for short-term credit as well as “buy now, pay later” schemes. The absence of tech-enabled credit assessment infrastructure has limited the quality and quantity of lending and may be behind the risk premiums borrowers have to pay, and the harassment practiced by predatory lenders in countries like Nigeria,” says Michael Temitope Collins, Periculum’s Founder and Chief Executive Officer.


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Kenn Abuya is a friend of technology, with bias in enterprise and mobile tech. Share your thoughts, tips and hate mail at [email protected]