Firms Partner to Launch Embedded SME Financing, Boost Local Businesses and Drive Inclusive Growth
In a bold move to democratize access to finance for small businesses, Salad Africa, a rising star in fintech innovation, has partnered with Glovo, the global multi-category delivery platform, to launch a first-of-its-kind SME financing initiative tailored to Nigerian entrepreneurs.
The initiative will provide collateral-free working capital loans ranging from ₦50,000 to ₦100 million to Glovo partner businesses—predominantly local SMEs that form the backbone of Nigeria’s informal and formal economies. Powered by Salad Africa’s embedded lending infrastructure, this financing model leverages real-time sales data from the Glovo app to assess creditworthiness, eliminating the need for traditional credit checks or burdensome collateral.
“This program is about financial inclusion at scale,” said a spokesperson for Salad Africa. “We are bringing fast, data-driven capital directly into the hands of those who need it most—Nigeria’s hardworking small business owners.”
To qualify, Glovo merchants must have been active on the platform for at least three months and demonstrate consistent operational performance. Upon approval, funds are disbursed directly, and repayments are made automatically from a small percentage of future Glovo sales, offering both convenience and affordability.
The partnership falls under Glovo Local, a global initiative that provides SMEs with access to tools and resources—including marketing support, digital training, and financial services—to help them thrive in the digital economy. With 90% of Glovo vendors being SMEs across its 23-country footprint, this financing program reinforces Glovo’s commitment to sustainable, inclusive growth in underserved markets.
For Salad Africa, this is another milestone in its mission to revolutionize SME financing across the continent. The fintech firm has already unlocked over $1.5 million in credit for more than 1,500 small businesses, enabling them to scale sustainably and create jobs.
“Together, Glovo and Salad Africa are not just offering loans—they’re offering a lifeline to small businesses, many of which have been excluded from traditional finance,” said a representative of CSR Reporters. “This is the kind of partnership that demonstrates what corporate social responsibility looks like in the age of digital transformation.”
As Nigeria continues its economic recovery, innovative partnerships like this one are helping to break the cycle of financial exclusion, build resilient local economies, and empower everyday entrepreneurs.