Regxta

Regxta is a Nigerian fintech company operating as a digital bank to enhance financial inclusion for Africa's unbanked and underserved populations. The firm primarily targets micro and nano-businesses, particularly those owned by women, in rural and semi-urban communities. The company's revenue is generated through monthly interest on loans and processing fees for other financial services.

The inspiration for Regxta came from the personal experiences of founder and CEO Rukayat Bello, who witnessed her mother, a micro-business owner, struggle to access loans and other financial services due to a lack of credit history. This led Bello to first establish a part-time money-lending business called The Bells Dynamic Option before launching the Regxta digital platform in 2021. Rukayat Bello is a member of the Institute of Chartered Accountants of Nigeria (ICAN) and has over six years of experience in banking, auditing, and finance. She is joined by co-founders Afis Bello (COO) and Moses Obika (CTO).

Regxta's core offering is a mobile application that utilizes a community-driven agency banking model. Trained local agents act as a bridge to the formal financial sector, helping users open digital wallets, save money, and generate financial records. The platform is powered by data science and artificial intelligence to underwrite and disburse micro-loans, often within minutes, to individuals without a formal borrowing history. Beyond lending, Regxta provides a suite of services including savings accounts, payment solutions, micro-insurance, pensions, and business support tools for record-keeping and financial advisory. This approach is designed to circumvent the bureaucratic and high-interest nature of traditional microfinance banks. The company has secured funding from investors including Village Capital, Nubia Capital, and Standard Chartered, which is being used to expand its reach and secure a microfinance banking license.

Keywords: financial inclusion, digital banking, microfinance, fintech Nigeria, unbanked services, agency banking, micro-loans, women entrepreneurs, rural finance, SME banking, mobile financial services, Rukayat Bello, AI lending, credit scoring, digital wallet, community banking, African fintech, financial accessibility, loan disbursement, business support services