Suregifts Launches Asset Financing Platform For The Working Class

SureGifts, a Nigerian gift cards startup has announced the launch of an asset financing platform for the working class.

The platform, known as SureCredit, allows employees of selected companies to get a voucher to to purchase an asset or service from several merchants in Nigeria and pay back from their salaries over a pre-determined period.

The vouchers can be used to purchase holiday trips, expensive home appliances, gadgets, electronics, medication, luxury and consumer goods and other essentials.

Olaoluwa Samuel-Biyi, co-founder of SureGifts said, “We wanted to create a convenient payment plan for trusted workers who want to acquire expensive assets or services, and that’s what we’ve done with SureCredit. It’s simply a platform that lets you spread payments for virtually anything over time.”

Sharing his sentiments, co-founder of SureGifts, Adeoye Ojo said, “There are existing innovations around credit for services such as phone airtime, and some brands offer payment plans on some electronics and home appliances. SureCredit is similar; only broader, cheaper and easier to access.”

To use SureCredit, employees visits the platform and check if their company has been approved. If their company is listed, the employees can then apply by filling a form and the application would be reviewed and approval granted within 24 hours.

Employees whose companies are not listed could request for their companies to be approved.

The platform comes with a calculator. With the calculator, an employee specify the amount they want (say NGN50,000) and the period of repayment (say 3 months). Automatically, the platform calculates the total payment of the employee and the amount he/she will pay monthly.

SureCredit does not require any collateral. It only requires that employees meet two conditions – be employed and be earning salary from any of the approved companies.

At the moment, the platform is gaining traction – it houses 10 approved companies, 1,123 pre-approved employees and about 30 merchants which include Samsung, DealDey and Jumia.

Source: Tech Moran.