Nigerian fintech company, Shecluded has been awarded an equity-free grant funding by Google for Startups through the Black Founders Fund Africa to develop its technology-enabled platform for women. The funding will enable Shecluded to provide more access to financial services and business resources to women in Africa.
The grant will be used to build Shecluded’s mobile application – expanding its capacity to simultaneously process thousands of loan applications and service requests. It will also enable the set-up of operations across key regions in Nigeria and West Africa, increase its marketing efforts, and staff strength to meet growing demand.
Founded in 2019 by Ifeoma Uddoh, Shecluded claims to have so far disbursed over $1 million in growth loans. The company says it has also enabled 17,500+ women with access to business development support, wealth advisory, health insurance, credit education, as well as financial and business literacy resources.
What they are saying
Ifeoma Uddoh, Founder/CEO of Shecluded said, “Our mission is to put more money in women’s hands and adopting more advanced technology will allow us to reach more women. We are super excited about this grant, as well as the mentorship and support that comes with it. We look forward to all the meaningful impact it will make for the women in our network.
“At Shecluded, we are seeing firsthand the urgent need for women to easily access key financial growth services. We believe that an advanced technology platform will go a long way to improve our ability to reach and provide these important resources to more women across more regions/locations.”
What you should know
Shecluded has participated in several global programs aimed at driving the conversation of reducing inequalities and inclusive finance for women – including UK-Nigeria Tech Hub – Gender-inclusive economy Nasdaq, NASDAQ Milestone Makers (Spring 2021), US Consulate Academy for Women Entrepreneurs (AWE 2021), Financial Alliance for Women and the Women & Fintech Forum (WFTF Asia, 2021).
In line with its dedication to nurturing and enabling women for financial growth and business success, Shecluded is now focused on advancing its resources and developing an even more simplified and accessible technology platform.