Creditchek, a Nigerian fintech that provides credit assessment infrastructure for financial institutions in Africa, has acquired Algosys, a Uganda-based company that develops core banking and lending management software for financial institutions. The transaction gives Creditchek an entry point into Uganda and adds lending management capabilities to its existing credit and financial data infrastructure.
Founded in 2024, Algosys develops and operates software and infrastructure for financial institutions, with an initial focus on East Africa. The company serves 22 financial institutions and has facilitated more than 10,000 Sacco loans. Following the acquisition, Algosys will operate as a subsidiary of Creditchek.
The transaction expands Creditchek’s coverage across the lending process, which includes credit bureau data, income verification, identity verification, loan management and collections. The company’s model is based on connecting these functions through a common infrastructure layer rather than relying on separate providers for each stage.
For lenders, that infrastructure is intended to bring borrower information and lending operations into a more connected system. Adding Algosys gives Creditchek a core banking and lending management component alongside its existing credit assessment capabilities.
The acquisition follows a $600,000 funding round Creditchek raised in June to expand its data coverage and operations across East Africa. The company had previously achieved profitability in Nigeria and is targeting banks, microfinance institutions and fintech lenders in the region.
Uganda is the latest market in that expansion. The country has 34.6 million active mobile money subscribers and was East Africa’s second-largest destination for startup funding in 2025, according to the source material.
Creditchek said the acquisition will support its plans to develop credit and lending infrastructure for local markets while expanding the range of services available to financial institutions across Africa.
