Creditchek, a financial technology infrastructure company building the data and technology infrastructure powering credit decisions across Africa, today announced the acquisition of Algosys, a Ugandan core banking software startup serving Lenders, Saccos, and MFIs in Uganda. The acquisition gives Creditchek a direct foothold in Uganda and advances its long-term strategy to build the full-stack infrastructure powering credit and lending across Africa.
Following the acquisition, Algosys will operate as a subsidiary of Creditchek, marking Creditchek’s formal entry into Uganda and representing an important milestone in the company’s broader expansion across East Africa.
The acquisition brings together Creditchek’s credit assessment and financial data infrastructure with Algosys’ core banking technology and established relationships with financial institutions, creating an opportunity to build more localised and comprehensive lending infrastructure for the African market.
Founded just two years ago by Innocent Bigega and Simon Tayebwa, Algosys has already built significant traction in Uganda, serving 22 financial institutions and facilitating over 10,000+ Sacco loans.
From credit assessment to full-stack lending infrastructure
