CreditChek, a Nigerian fintech that supplies credit assessment infrastructure to lenders, said it had completed the acquisition of Algosys, a Ugandan startup that sells core banking and lending software. The Condia reported the deal on 9 September 2026.
Terms were not disclosed. Neither company gave a price, the size of the stake or how the deal was structured.
Algosys will keep operating in Uganda as a subsidiary of CreditChek and its existing clients will remain customers. The deal gives CreditChek its first operating base in East Africa, Daba Finance reported.
What Algosys built
Algosys was founded in 2024 by Innocent Bigega and Simon Tayebwa. Its software handles the core operations of smaller financial institutions, including loan origination, savings, deposits and loan management.
The company's software is used by 22 financial institutions in Uganda, a mix of lenders, microfinance institutions and savings and credit cooperatives, known locally as SACCOs. Its platform has supported more than 10,000 SACCO loans, according to The Condia and Daba Finance.
Neither report gave a headcount for Algosys or said whether it had raised outside funding.
Bigega said the deal would give the startup more to work with. "Joining CreditChek gives Algosys access to a broader technology platform and resources," he told The Condia.
“Joining CreditChek gives Algosys access to a broader technology platform and resources”
Why CreditChek is buying
CreditChek was founded in 2021 by Kingsley Ibe, its chief executive, and Lionel Orishane, its chief technology officer. Its product pulls credit bureau, income, identity and other financial data into a single system that lenders use to assess borrowers. Daba Finance reported that the company says it has processed more than $60 million in credit applications across 1 million individual profiles and has reached profitability in Nigeria.
The company wants to move from selling data to running more of the lending process itself. Ibe told The Condia that CreditChek aims to build infrastructure covering how lenders acquire customers, assess risk, decide on credit, originate loans and manage them over their life. Algosys already runs the loan and account systems that sit at the end of that chain.
CreditChek plans to look at integrations that would bring its credit and identity tools to Algosys's 22 institutions. Orishane said the company did not intend to copy its Nigerian operation in Uganda and would instead adapt to local conditions.
The funding behind the expansion
The acquisition follows a $600,000 round CreditChek raised in June 2026 to expand into Uganda, Kenya and Rwanda. Janngo Capital led the round, with Assembly Investors, Vastly Valuable Ventures and Unipeg Capital also investing, according to Daba Finance.
Uganda is the first of those three markets where the company now has a local business. CreditChek has not said whether it plans further acquisitions in Kenya or Rwanda.
Daba Finance reported that CreditChek intends to link its credit and financial data products with the loan origination, savings, deposit and loan management systems that Algosys already runs for its clients. Ibe framed the deal as a step beyond the data business. "We want to move beyond simply providing data to lenders and build the infrastructure," he told The Condia. Orishane said the company's aim "isn't to replicate CreditChek in Uganda but to adapt to the local realities" of the market.
From data provider to lending platform
CreditChek's plan is to offer lenders a single platform that runs from identity verification and credit assessment through to loan origination and loan management, The Condia reported. Until now its business has focused on the first two of those steps in Nigeria.
Algosys supplies the later steps to Ugandan institutions, so the purchase brings both halves of that chain under one owner in at least one market. The companies did not give a timeline for connecting the two products or say how many of Algosys's 22 clients they expect to adopt CreditChek's tools.
