Glovo, Salad Africa launch SME financing in Nigeria

Glovo, the multi-category delivery platform connecting consumers with local businesses and couriers, has announced a strategic partnership with Salad Africa to roll out a first-of-its-kind financing program for small and medium enterprises (SMEs) in Nigeria.

The collaboration with Salad Africa—a fintech company specializing in embedded lending infrastructure for B2B marketplaces and tech-enabled SMEs—will provide Glovo’s merchant partners access to working capital at more affordable rates and flexible terms compared to traditional financial institutions.

Through the new financing initiative, qualified merchants operating on the Glovo platform will be able to access loans ranging from ₦50,000 to over ₦100 million. The loan eligibility will be determined using real-time sales data from the Glovo app, enabling faster, more equitable, and data-driven lending decisions. To qualify, merchants must meet operational performance standards and must have been active on the Glovo app for a minimum of three months.

Once eligibility is confirmed, merchants will be notified of the application process and Know Your Business (KYB) requirements. Upon approval, funds will be disbursed directly, with repayments deducted as a percentage of future sales—handled seamlessly through the Glovo platform. Notably, the financing model does not require collateral, in contrast to traditional lending practices.

The initiative falls under the umbrella of Glovo Local, a global program designed to empower SMEs operating in the digital economy. Glovo Local currently supports 90% of businesses on its app—mostly restaurants and local stores—across 23 countries with resources such as marketing, order management, platform visibility, training, and now, financial support.

ALSO READ: MARKETINGWORLD’S CMO OF THE WEEK: KHENSANI MKHOMBO OF TANZANIA BREWERIES LIMITED (TBL PLC)

Speaking on the development, Glovo Nigeria’s Head of Commercial, Kolawole Adeniyi, said:
“At Glovo, we’re constantly looking for ways to empower our partners and support their growth journeys. Through this initiative, we’re providing access to much-needed working capital directly within our ecosystem, making it easier and faster for our partners to scale. This partnership with Salad Africa is a game-changer—it ensures our merchants can unlock new opportunities without traditional barriers.”

Salad Africa’s CEO, Chikodi Ukaiwe, also expressed enthusiasm about the partnership, stating:
“Supporting local businesses is at the heart of everything we do at Salad, so we’re thrilled to partner with Glovo to provide small and medium-sized restaurants with fast, fit-for-purpose financing to meet growing demand and scale their operations. Embedded finance is unlocking new channels of credit that simply weren’t available before, and we’re proud to be making access to capital more seamless and timely for Glovo’s network of restaurants.”

The Glovo-Salad partnership marks a significant leap in promoting financial inclusion, driving local economic growth, and accelerating the digital transformation of Nigerian SMEs. According to Salad Africa, the fintech has already facilitated over $1.5 million in credit value and supported more than 1,500 SMEs in scaling their operations.