Evolve Credit, a Nigerian fintech, has launched cloud-based lending software.

Evolve Credit, a Nigerian lending marketplace, has launched Configure, a new cloud lending software that it claims will power thousands of new loan providers over the next five years.

The Evolve Credit marketplace connects lenders and borrowers in one location, making comparison easier.

Just over a year ago, the startup raised pre-seed funding and has now released Configure, an affordable bank-level core lending platform that allows lenders to build, launch, and manage any type of loan product end-to-end across multiple distribution channels.

Configure aims to make it easier and faster for microfinance players, start-up lenders, and non-bank providers to deploy credit products in days rather than months, while also allowing existing lenders to digitize their processes. The cloud-based lending platform, which was designed to be flexible and configurable, can support lending end-to-end — frontend web forms, backend dashboards, and third-party integrations.

Since the platform’s private beta launch in August, lenders in Nigeria and Zimbabwe have originated and disbursed over US$500,000 in loans.

“Over the next five years, we want to power thousands of new loan providers,” said Akan Nelson, founder and CEO of Evolve Credit. “We want to make billions of dollars in credit available to millions of people and small and medium-sized businesses.”