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Lidya’s shutdown came after months of internal turmoil marked by key executive exits and unpaid staff Will be able to secure their loan and you can get up to $500,000 in loan. Nigerian lender lidya has ceased operations despite raising $16.45 million, citing financial distress and unresolved customer claims.
Lidya, a digital lender, has officially ceased operations after raising a total of $16.45 million Lidya is a loan firm that offers loans to individuals and businesses in nigeria without collateral or paperwork The firm sent an email to its customers.
The name lidya is of greek origin and is derived from the biblical name lydia. it means from lydia, which was an ancient region in asia minor
Lydia was also the name of a prominent woman in the new testament, known for her hospitality and conversion to christianity. The closure comes as a surprise, considering the company raised a significant $16.45 million in funding throughout its lifetime. Lidya, a digital lending company based in nigeria, has ceased operations in the country, after nine years in business, citing severe financial distress. Lidya, one of nigeria’s early fintech startups, has ceased operations after almost 10 years, citing financial distress and an inability to secure the funding or revenues needed to continue.
Founded by former jumia executives, customers of nigerian fintech, lidya are struggling to withdraw funds as ceo and cto exit the company Employee salaries also remain unpaid.
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