• Monday, April 22, 2024
businessday logo


Fast Credit redeems series 3 commercial paper

Fast Credit redeems series 3 commercial paper

Fast Credit Limited, a lending platform, has announced it has completed the payout of its Series 3 Commercial Paper.

A statement from the company said this accomplishment not only underscores the company’s financial prowess but also highlights its unwavering commitment to innovation and growth in the dynamic world of fintech.

With an industry reputation built on groundbreaking financial solutions and technological prowess, Fast Credit Limited ventured into Series 3 Commercial Paper issuance as a strategic move to fortify its position and amplify its impact in the market.

The endeavour aimed not only to raise capital but also to showcase the company’s robust financial health to existing and potential investors.

Embarking on any financial undertaking, especially a commercial paper issuance, comes with its fair share of challenges.

However, Fast Credit Limited demonstrated resilience and adaptability, successfully navigating through market fluctuations and economic uncertainties. This resilience reflects the company’s agility and strategic acumen, traits that have become synonymous with its brand.

Emeka Iloelunachi, the company’s CEO stated that the timely payout of Series 3 Commercial Paper was in line with earlier redemptions on Series 1 & 2 and therefore evidences the company’s core value of integrity, business innovations and strategic partnerships.

“We have not only utilised the funds in expanding our impact in our niche market but have bolstered investors’ confidence in partnering with us in our goal of redefining customers’ experience through product innovations and value creation. These redemptions and the impending issuance of a N10billion Bond Program in April 2024 will further consolidate our successes and ultimately lead us to achieving the cardinal goal of being the leading non-bank financial institution with shared values; nationwide and beyond,” Iloelunachi said.