TechPression

Tag: Kenya fintech

  • Kenya fintech Zanifu secures $11.2 million

    Kenya fintech Zanifu secures $11.2 million

    Zanifu, a fintech business based in Kenya, was able to raise $11.2 million in a pre-Series A deal that included debt in addition to equity. 

    The investment was led by Beyond Capital Ventures and Variant Investments, with participation from Launch Africa, Founders Factory Africa, AAIC Investment, Google Black Founders Fund, and additional stakeholders. Zanifu is a licensed fintech firm that offers inventory finance to micro, small, and medium-sized enterprises (MSMEs). It was founded in 2018 by Steve Biko and Sebastian Mithika.

    Read also: Visa facilitates contactless payments in Kenya, collaborates with fintechs 

    Zanifu helps supplier chains of MSMEs acquire working financing. By utilising its platform, smaller companies have the ability to purchase goods from their suppliers and then settle payments at a later time. Inventory finance from Zanifu has the potential to have a substantial impact on MSMEs in Kenya. In addition, Zanifu plans to make investments in its technology infrastructure in order to improve the quality of the services it provides.

    Zanifu is able to improve its company operations, raise its efficiency, and provide a positive experience for its consumers by utilising cutting-edge technologies in the financial sector. Zanifu will be in a better position to scale quickly and provide service to a fast-expanding customer base if it adopts this tech-centered approach.

    Co-founder Steve Biko of Zanifu made the following statement: “Our concentration is solidly on Kenya. We want to be able to assist a greater number of micro- and small- and medium-sized enterprises, expand the number of distributors we work with, and guarantee that the funds we distribute will contribute to the expansion and profitability of these companies. We won’t even consider expanding into new markets until we’ve established a profitable presence here.

    About Zanifu

    Zanifu’s dedication to providing inventory financing to Kenyan MSEs will receive a boost thanks to the infusion of new money.

    A regulated financial technology company, Zanifu offers inventory finance for micro, small, and medium-sized businesses (MSMEs). The organisation makes it possible for the supplier networks of MSMEs to obtain access to working capital. Through its platform, it is possible for small shops to purchase inventory from their suppliers and pay for it at a later time.

  • Kenya fintech firm Boya launches virtual Visa cards for SMEs

    Kenya fintech firm Boya launches virtual Visa cards for SMEs

    Kenyan fintech company Boya has just released a digital Visa expense card to cater to the local business community. 

    The card, launched in conjunction with VISA and Diamond Trust Bank, is designed to make it easier for companies to keep track of their payments and costs, with a single virtual card solution.

    The Boya platform is designed to revolutionize the way in which companies of all sizes control their cost monitoring and reporting. Boya’s innovative product is made possible by incorporating DTB’s Cards as a Service. Through this integration, Boya’s clientele will have access to Visa-supported virtual corporate cards. Businesses may streamline their financial procedures and increase transparency by using these virtual corporate cards to monitor, control, and reconcile company expenditures.  

    During the launch, Boya’s CEO, Mr. Alphas Sinja, made the following statement “Our goal is to provide businesses with a comprehensive tool that simplifies expense tracking, improves financial control, and drives operational efficiency.” By automating time-consuming operations and offering important insights, our service helps organisations to concentrate on core activities and accomplish strategic objectives.” 

    Read also: Mastercard, SomBank partner to launch debit cards in Somalia

    Providing a simple way for business to manage expenses

    Boya is a cloud-based expenditure management service that provides key features such as tracking, approvals, reporting, integration and automation, and mobile accessibility.  

    Nasim Devji, Group CEO and Managing Director of DTB, has said that the company’s collaboration with Boya would provide clients with convenient, safe, and personalised banking services. ”Our goal is to bridge the gap between the financial sector and the digital industry in order to hasten the creation of game-changing fintech products and services.

    Expense management is made much easier with the Boya platform, which is a cloud-based, all-inclusive platform. With a user-friendly interface and sophisticated features, businesses can now manage expenses with ease, enhance financial visibility, and generate significant cost savings.

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    What to know about Boya

    Boya is an integrated platform for improved financial management. The Central Bank of Kenya has approved DTB Bank as the company’s sponsor. Access to your Boya account is protected by many layers of protection, including a touch ID, facial recognition, and a password. We keep watch on your card constantly. The card may be locked and unlocked at any moment using the accompanying software.

    Thousands of companies across a wide range of sizes and sectors use Boya to handle their financial management requirements. Our passion is to aid companies in reaching their maximum potential.