Migo
Accelerating the democratization of credit
What it does
Migo (formerly Mines.io) is a San Francisco-based embedded credit platform founded in 2013. It provides instant consumer loans through partnerships with banks and mobile operators in Nigeria and Brazil, using alternative data and ML for credit scoring. The company raised approximately $35M in total funding across multiple rounds. In March 2025, investment firm First Ally Capital acquired a 60% equity stake in Migo's Nigerian operations.
Consumer / retail lendingCredit scoring & underwritingLoan management / origination systems
Known for
- Embedded credit platform
- Partnerships with Nigerian banks and telcos
- Over 3 million loans originated
- Acquired by First Ally Capital (60% stake) in 2025
Model & industry
Lending-as-a-ServiceEmbedded FinanceAPI-as-a-ProductAll / Cross-industry
Funding history
$31.0M
Total raised
2
Rounds
Series B
Latest stage
2019
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2019-12 | Series B | $20.0M | Valor Capital Group |
| 2018-08 | Series A | $11.0M | The Rise Fund |
Source: Condia Funding Tracker
Products & subsidiaries
Migo Credit · Embedded Lending
In the News
- 2025-06-10 · A Quiet Exit: Nigeria's Migo Acquired by Long-Time Investor · Launchbase Africa
- 2025-03-20 · First-Ally Capital to acquire Migo fintech · Africa Business Plus
People
Investors
Valor Capital GroupFirst Ally Capital