Growth. Guaranteed.
Veltra replaces the tracker you already pay for.
Same location data. Same fleet visibility.
But when a borrower misses a payment,
the asset stops — automatically, within 90 seconds.
GPS tracking that enforces repayment. Nothing like it exists in Nigeria.
Why Veltra
Every lender in Nigeria who finances vehicles or equipment installs a GPS tracker. It tells you where the asset is. What it cannot do is stop the asset when your borrower hasn't paid. That gap is where you lose money. Veltra closes it.
They tell you the okada is in Oshodi. They cannot stop it. When a borrower defaults, you know where they are — but you still have to send someone. Or call your lawyer. Or write it off.
The moment a payment misses, the asset locks — automatically. No dispatch. No phone call. No field agent. The borrower cannot use the bike until they pay. They call you. You negotiate from a position of control, not desperation.
Every payment a borrower makes through Veltra is logged and timestamped. Over time, lenders using Veltra accumulate real repayment behaviour data — something no ordinary tracker captures. That data improves every future lending decision you make.
The tracker market in Nigeria has been static for 15 years. GPS plus geofencing plus an engine cut you operate manually. Veltra connects the tracker to your payment system, so enforcement is automatic. You stop paying for a tool that watches helplessly. You start paying for one that acts.
How it works
Once installed and connected to your payment system, Veltra monitors every asset in your portfolio automatically. You only get involved when it matters.
The payment cycle
Veltra plugs into Nigerian payment rails — Paystack, Monnify, Mono, USSD. Your borrowers pay the way they already pay. Nothing changes on their side. The enforcement is invisible until it's needed.
If someone tries to remove or cut the device, sensors inside detect it immediately. The asset locks permanently and you receive an alert. Knowing this, borrowers don't try.
Every asset's location, payment status, and operating history — visible on one screen. You can lock or unlock any asset manually from your phone. Every action is logged for your compliance records.
New rules, new payment schedules, security improvements — we push these to your entire fleet without visiting a single unit. No field technician cost.
What your data becomes
Every Veltra device records location, usage, payment behaviour, and operating hours. Most lenders never look at this. Here is what it can do for you — depending on the assets you finance.
When you have 12 months of actual repayment behaviour from your okada portfolio — which borrowers pay on time, which ones slip in month 3, which routes generate the most consistent income — you stop guessing risk. You price it. Lenders with behavioural data price loans better than those without it. Veltra gives you that data automatically.
Most of your borrowers are invisible to the formal credit system. They have no bureau history. Veltra's payment log — timestamped, GPS-verified, consistent — is alternative credit data in the exact format that CBN's credit infrastructure framework envisions. Borrowers who pay consistently can use this record to access better products, from you or other lenders.
DFIs — IFC, DEG, FMO, BII — want to lend to Nigerian MFBs and leasing companies. The condition is always the same: prove measurable impact with verified data. Veltra's GPS-confirmed locations, verified usage hours, and repayment records are the kind of impact evidence these institutions require. You cannot manufacture this data after the fact. You need the device installed first.
Your petrol okada portfolio is today's business. But your borrowers will shift to electric as prices come down and financing becomes available. Lenders who already understand their borrowers' repayment behaviour — through Veltra data — will be first to offer electric asset finance at competitive rates. The data advantage you build now compounds when the market transitions.
Nigeria's credit gap stands at approximately ₦24 trillion. Over 28.8 million adult Nigerians have no formal credit history — making traditional bureau scoring useless for most asset finance borrowers. The CBN's credit bureau framework explicitly recognises that verified repayment behaviour from alternative sources is necessary to close this gap. Veltra generates exactly this data at the asset level, for every borrower in your portfolio, every month.
You install a solar system on credit. Default rates are high because once the system is generating power, there's no consequence for non-payment. Veltra cuts the power when payment stops. It restores it within 90 seconds of payment confirmation. Your borrowers understand the rule immediately — pay and it works; don't pay and it doesn't.
For solar installations and electric vehicles, Veltra's hardware-verified energy generation and usage data can be processed into verified carbon credits through internationally recognised methodologies. This is a revenue line that almost no Nigerian solar financier is currently capturing — because they don't have tamper-proof, hardware-verified data to substantiate the claim. Veltra provides it.
Your solar portfolio is already impact finance. But if you cannot prove it with verified data, DFIs won't price it that way. Veltra's GPS-confirmed installation sites, verified energy production hours, and borrower usage profiles give you the evidence layer that turns your portfolio into a demonstrably bankable impact asset.
For electric vehicle leasing and financing, Veltra captures battery usage, charging patterns, trip distance, and energy consumption alongside payment behaviour. This is the data that insurers need to price EV risk properly, that carbon methodologies need to generate credits, and that fleet operators need to manage asset health. One device. All of it captured.
If you currently finance petrol motorcycles or generators, Veltra gives you a clear migration path. Start with enforcement and credit data on your current portfolio. As your borrowers graduate to electric assets — or as you choose to offer them — you're already operating infrastructure that captures the data needed to participate in carbon markets and attract ESG capital. The transition is built in.
The borrower's story
The goal of payment enforcement is not punishment. It is consistency. And consistency — at scale, across thousands of borrowers — changes the economics of lending in Nigeria.
An okada rider, a solar customer, an equipment operator. They get the asset on credit. They know upfront: the device is installed, payment is automatic, and if they miss — the asset stops. There's no ambiguity.
Each payment confirmed through Veltra is timestamped and GPS-verified. This isn't just a transaction record — it is alternative credit data in the format that CBN-licensed credit bureaus can reference. The borrower is building a financial identity, without paperwork, without a bank account, without bureau registration.
After 6–12 months of verified repayment behaviour, the borrower has something most Nigerians don't: a provable financial history attached to real asset usage. This history can be used to access a second loan, a bigger loan, or a loan from a different lender — at better terms, because the risk is no longer unknown.
When thousands of borrowers across multiple lenders have verified repayment records through Veltra, default rates fall sector-wide. When NPLs fall, lenders can price risk lower. When risk is priced lower, interest rates come down — not because of a regulation, but because of market forces. Borrowers who pay consistently drive this shift. Veltra is the mechanism.
"Borrowers want lower interest rates and friendlier loan requirements. The path to both is lower risk — and the path to lower risk is verified repayment behaviour."
Synthesis — IFC / CBN Nigerian Credit Infrastructure Reform Study, 2023
Who this is built for
You give a rider the bike. After 3 months their payment behaviour drops off. With Veltra, the bike stops when payment stops. They call you. You're in control. And 12 months of their repayment data builds a credit profile you can use to offer them their next loan — or share with the bureau.
Once the system generates power, default risk is high because the borrower already has what they wanted. Veltra cuts that power on missed payment. For solar and EV portfolios, Veltra also captures verified usage data that can be converted into carbon credits — a new revenue line your competitors aren't yet accessing.
You know where it was on day one. After that, you're guessing. Veltra gives you real-time location, operating status, and a lock switch from your phone. Usage data tells you which equipment types and which borrower profiles perform best — improving every future disbursement decision.
Get early access
Early partners get lower device pricing, hands-on setup from our team, and direct input into what Veltra builds next. Start with as few as 5 devices on a live portfolio to see how it performs before committing to scale.
We read every application and reply within 5 working days. We want to understand your portfolio before we agree to work together. We expect you to ask us hard questions too.
Someone from the Veltra team will reach out within 5 working days to arrange a short call and, if you'd like, a device demonstration at your office.
Reference: VLT-XXXXXX
We review every application personally. Expect a reply within 5 working days.
No spam. No sharing of your information. A real person replies.
Most lenders already pay for a tracker. Veltra replaces it — same location data, same fleet visibility — but adds the one thing ordinary trackers have never done: automatic enforcement when payment stops.
A palm-sized unit fitted inside any financed vehicle, generator, solar inverter, or other asset. It connects to our system via SIM card — the same way a phone connects to a network. It captures GPS location, usage hours, and tamper events. It also receives commands from our platform, including lock and unlock instructions tied to payment status.
Our platform checks whether payment has arrived on the borrower's scheduled date. If it hasn't — within 90 seconds of the grace period ending — the device receives a signal and disables the asset. For a motorcycle, the ignition cuts. For a generator, it won't start. For a solar inverter, the power stops. The borrower cannot override this. They contact you to arrange payment.
Payment confirmed via any mobile wallet, USSD, or bank transfer. Our platform sends an unlock signal. Asset turns back on within 90 seconds. No manual action. Fully logged. The payment record contributes to the borrower's alternative credit profile, which you own and can use for future lending decisions.
Every payment event, GPS location, operating hour, and usage pattern is captured and attributed to your borrower. Over 12 months, this builds a verified alternative credit history — in the format recognised by CBN-licensed credit bureaus — for every borrower in your portfolio. Most of these borrowers are currently invisible to the formal credit system. Veltra makes them visible, to you first.
The same enforcement applies — power or ignition cuts on missed payment. Additionally, for solar and EV assets, Veltra's hardware-verified energy usage and trip data can be processed into carbon credits through internationally recognised methodologies. This is a revenue line available to lenders with verified data. Most currently have none.
We'll come to your office. 45 minutes. Device demonstration, your questions, honest answers. No commitment required.