Most Sub-Saharan African economies are largely cash-driven which has contributed to the people’s low purchasing power which consequentially has led to sub-standard living and many other financial difficulties. Many customers can neither pay outright nor access credit for purchases. It was on this premise that CredPal was created to provide a solution for the needs of the African consumer - consumer credit financing that offers credit cards and buy now, pay later.

CredPal is a financial technology company transforming the consumer credit industry in Nigeria with its consumer financing services. Through its credit cards and point-of-sale financing (popularly known as buy now, pay later) services to businesses and individuals, millions of middle and lower-class consumers can access credit for their everyday needs and large ticket purchases.

CredPal was established by longtime friends, Fehintolu Olaogun and Olorunfemi Jegede in 2018. In just a few years, they managed to turn a unique idea that began in a one-room office into one of the fastest-growing startups in Africa. Founded with the sole purpose of mainstreaming consumer credit in Africa and other developing economies, they have built a revolutionary consumer credit infrastructure geared towards credit inclusion, increasing consumers' purchasing power, and improving the standard of living.