In a bold move to empower small and medium-sized enterprises (SMEs) in Nigeria, fintech company Salad Africa has partnered with Glovo, a leading multi-category delivery platform, to launch an innovative financing initiative aimed at closing the credit gap for local businesses.
This partnership introduces a first-of-its-kind embedded lending program that provides eligible Glovo partners—primarily restaurants and retailers—with access to flexible working capital at more competitive rates and terms than those offered by traditional banks. The initiative is designed to help SMEs scale faster, launch new services, and increase revenue directly within the Glovo ecosystem.
A New Era for SME Lending in Nigeria
Through this collaboration, Salad Africa leverages its embedded lending technology to assess real-time sales data from the Glovo app, enabling faster and more accurate credit decisions. Qualified merchants—those active on Glovo for at least three months and who meet performance benchmarks—can apply for loans ranging from ₦50,000 to over ₦100 million, with no collateral required.
Once eligible, merchants receive notifications detailing Know Your Business (KYB) requirements and application instructions. Upon approval, funds are disbursed directly, and repayments are automatically deducted as a percentage of future Glovo sales, ensuring seamless and stress-free loan servicing.
A Strategic Step for Salad Africa
This collaboration is a significant milestone for Salad Africa, which already processes over ₦500 million in credit disbursements monthly and has empowered more than 1,500 SMEs since its launch. With the Glovo partnership, the company aims to hit its next internal goal: ₦1 billion in monthly loan disbursements.
The partnership also aligns Salad Africa with global embedded lending platforms like YouLend, R2, and Banxware—innovators driving SME financing across Europe, North America, and Latin America. Notably, YouLend partnered with Glovo Spain in 2024 to offer restaurant loans, while R2 secured $15 million in Series A funding to scale its services in Latin America.
Supporting SMEs Through Glovo Local
This financing program is part of Glovo Local, the company’s global initiative focused on equipping SMEs with the tools to thrive in the digital economy. Representing 90% of Glovo’s restaurant and shop partners across 23 countries, Glovo Local provides access to marketing, training, digital visibility, order management tools, and now, integrated financial support.
By being the only platform in the industry currently offering this type of embedded financing, Glovo reinforces its role as a true growth partner for local businesses—removing long-standing barriers to funding and promoting sustainable development.
Voices Behind the Vision
Kolawole Adeniyi, Head of Commercial at Glovo Nigeria, emphasized the importance of the partnership:
“At Glovo, we’re constantly looking for ways to empower our partners. With this initiative, we’re providing direct access to working capital within our ecosystem, allowing businesses to scale faster. Our partnership with Salad Africa is a game-changer.”
Chikodi Ukaiwe, CEO of Salad Africa, added:
“Empowering local businesses is at the heart of what we do. Through this partnership with Glovo, we’re making financing more accessible, timely, and tailored for SMEs. Embedded finance is revolutionizing credit access, and we’re proud to lead that charge in Nigeria.”
Driving Inclusive Growth
Together, Glovo and Salad Africa are driving financial inclusion, powering local economies, and enabling the digital transformation of SMEs across Nigeria. By providing fit-for-purpose financing without traditional obstacles, this partnership paves the way for thousands of small businesses to scale sustainably and compete more effectively in a fast-changing market.
About Glovo
Founded in 2015 in Barcelona, Glovo is a multi-category delivery platform operating in 23 countries across Europe, Central Asia, and Africa. The company connects users with local businesses and couriers, offering fast, on-demand services from restaurants, supermarkets, and retailers.
About Salad Africa
Salad Africa is a mission-driven fintech providing embedded lending infrastructure for SMBs across Africa. The company partners with digital platforms to deliver seamless financing solutions that connect underserved businesses with banks and other lenders, supporting growth and sustainability in emerging markets.
