What is the name of your organization?
10mg Health
What is the name of your solution?
10mg Health
Provide a one-line summary or tagline for your solution.
AI-powered credit assessments enabling healthcare providers in emerging markets instant access to affordable, collateral-free financing.
In what city, town, or region is your solution team headquartered?
Lagos, Nigeria
In what country is your solution team headquartered?
Nigeria
What type of organization is your solution team?
For-profit, including B-Corp or similar models
Film your elevator pitch.
What specific problem are you solving?
10mg Health is tackling a systemic failure in healthcare financing that leaves providers in emerging markets trapped in a liquidity crisis, unable to secure timely, affordable credit. With a staggering $60 billion annual credit gap—of which only 12% is fulfilled—over 500 million people across Africa face disruptions in essential healthcare services. This financing void exacerbates critical supply chain deficiencies, delaying life-saving treatments for diseases like malaria, typhoid, and chronic conditions while worsening already alarming maternal and infant mortality rates. The underlying issue lies in fragmented credit databases that create extreme risk asymmetry for lenders, resulting in exorbitant interest rates exceeding 30%, stringent collateral requirements, and prolonged approval cycles exceeding 90 days. This broken system forces healthcare providers to rely on unsustainable, high-risk informal lending, further entrenching financial instability and jeopardizing healthcare accessibility.
What is your solution?
10mg Health is an AI-driven credit-scoring platform revolutionizing healthcare financing in emerging markets by instantly assessing provider creditworthiness and facilitating collateral-free, affordable financing.
Our platform streamlines lending processes, automates risk evaluation, and enables healthcare providers to instantly secure funding to procure essential medical supplies or scale their services without traditional financial barriers.
It works by partnering with health-tech medication vendors platforms, such that at checkout points, healthcare providers select "10mg Credit." Our proprietary AI solution leverages real-time data analytics, machine learning algorithms, and digital verification to instantly determine credit eligibility. Providers approved through our model immediately access financing via third-party lenders, significantly reducing traditional lending timelines from months to mere seconds.
Our platform utilizes advanced AI, cloud computing, real-time data analytics, and digital KYC solutions, automating credit assessment, enhancing transparency, and minimizing lending risk.
Who does your solution serve, and in what ways will the solution impact their lives?
10mg Health directly serves healthcare providers—including hospitals, clinics, and pharmacies operating in emerging markets, particularly across Africa. These entities serve predominantly underserved populations, numbering over 500 million individuals in communities plagued by high disease burdens, limited infrastructure, and chronic financial exclusion. Currently, providers are critically underserved, burdened by delayed, costly, and restrictive financing options due to fragmented credit data and traditional lending barriers. Our AI-enabled financing solution disrupts this status quo, delivering real-time, collateral-free, and affordable credit. This enables providers to procure essential medical supplies swiftly, improving healthcare delivery outcomes, reducing mortality rates, and significantly elevating overall community health resilience.
