Oliver Fomunung – Founder & CEO of SME Credit pro Inc.
Oliver is the Co-Founder and CEO of SME Credit Pro Inc., a financial technology (Fintech) company operating in the African market. The company specializes in providing unsecured working capital loans to micro and small businesses considered “unbanked” by formal financial institutions; bridging the credit gap that hinders the growth and development of these businesses in emerging markets. As of June 2023, the company has disbursed more than $1 Million in loans. SME Credit Pro is current raising a Seed Capital of $3M to complete its lending licensing process, build out its technology platform, hire more employees, fund more loans to MSMEs, and enter additional African country markets
Oliver’s journey in the industry began when he faced significant challenges in accessing capital for his own small printing company in Cameroon, which he established in 2012. This firsthand experience sparked his entrepreneurial spirit, leading him to establish SME Credit Pro with his Co-Founder Lisa Wilhelm with the mission of addressing the credit gap faced by African micro and small businesses.
With a Master’s degree in Finance and a strong background in the financial industry, Oliver possesses the education, qualifications, and skills necessary to drive his career and contribute to the success of SME Credit Pro.
As the CEO, Oliver has spearheaded the establishment and growth of SME Credit Pro, making it a prominent player in the fintech industry. While specific projects and initiatives are not mentioned, Oliver’s leadership and vision have been instrumental in the company’s achievements.
Oliver takes pride in his professional accomplishments, particularly in setting up and successfully running SME Credit Pro. His dedication to providing access to working capital for African micro and small businesses has made a positive impact on the entrepreneurial ecosystem in the region.
The financial technology industry has evolved significantly since Oliver’s entry. The industry faces challenges such as an evolving business landscape, global recession, and inflation, which require constant adaptation and innovation to stay ahead.
In the next 5-10 years, Oliver envisions the industry heading towards greater financial inclusion, with increased adoption of fintech solutions, and advancements in digital financial services tailored to the needs of micro and small businesses.
Oliver is excited about new technologies and trends shaping the fintech industry, ranging from mobile banking and digital payment solutions to blockchain technology, open banking, and data analytics, all of which will capture alternative credit data and models that will fuel expanded credit access for micro and small businesses
For aspiring professionals starting in the industry, Oliver advises starting small, testing and learning to refine the business model based market conditions, and gradually building expertise and networks. It is important to stay updated with industry trends, embrace continuous learning, and seek mentorship from successful players in the field.
When faced with setbacks and challenges in his work, Oliver employs a proactive approach. While details are not provided, he prioritizes problem-solving, resilience, and adaptability to overcome obstacles and drive the company forward.
Oliver finds inspiration in industry leaders such as Tala, a prominent fintech company that focuses on providing credit access to underserved populations.
Outside of his professional life, Oliver enjoys hobbies such as swimming, running, and fitness, which help him maintain a balanced lifestyle.
Through his role as the Founder & CEO of SME Credit Pro Inc., Oliver Fomunung demonstrates his commitment to driving financial inclusion, empowering micro and small businesses to grow and become more productive, and contributing to the growth of international trade in emerging markets.
