Fast Credit Limited has announced the successful payout of Series 4 of its commercial paper.
A statement from the firm on Thursday said the commercial paper issuance attracted widespread attention from investors, with overwhelming demand surpassing initial projections and obligations to investors on the series being met timely.
“This resounding success underscores investor confidence in Fast Credit’s robust business model, strategic vision, and commitment to excellence. This sets a new benchmark for fintech investment, characterised by its innovative approach to capital markets and unwavering dedication to investor satisfaction. By leveraging cutting-edge technology and top-of-the-range practices, Fast Credit redefined the possibilities of commercial paper issuance, thereby driving efficiency, transparency, and accessibility,” part of the statement read.
Fast Credit Limited said that the proceeds of the Series 4 issuance were used to boost its market penetration plans, expand infrastructure, fuel investment in its digital banking business, and further strengthen its market position.
The Managing Director of Fast Credit, Emeka Iloelunachi, noted that the company would continue to chart new territories and push the boundaries of innovation.
According to Iloelunachi, the series 4 payout and the successful completion of the commercial paper issuance serve as a testament to the company’s unwavering commitment to driving positive change and shaping the future of finance.
“Fast Credit’s latest achievement, recognising its ingenuity, resilience, and unwavering commitment to excellence. The successful payout of the Series 4 issuance underscores Fast Credit’s status as a market leader and reinforces its reputation as a trusted partner in the global financial ecosystem.
He added that with a clear focus on driving sustainable value creation, Fast Credit was poised to unlock new opportunities and deliver long-term returns for its investors.
“In an era defined by rapid technological advancements and shifting market dynamics, Fast Credit’s successful commercial paper program stands as a testament to its resilience, agility, and unwavering commitment to excellence. As it embarks on the next phase of its journey, Fast Credit remains steadfast in its mission to redefine the possibilities in finance, leveraging technology and delivering lasting value to its investors, partners, and stakeholders alike,” Iloelunachi stated.
FCL was licensed by the Central Bank of Nigeria and commenced operations in August 2014, offering various investment and loan products to public and private sector employees and small and medium-sized enterprises.
