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Kenya-based fintech 4G Capital to scale lending after raising $18.5M from Lightrock

TechCrunch

Kenya-based fintech company 4G Capital , which provides unsecured credit to micro enterprises, has raised $18.5 Barrett launched 4G Capital in 2013 after a short stint as a loans manager based in Kenya for a lending corporation, an opportunity that saw him travel across Africa and gain insights on the continent’s lending space. “I

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Nigeria’s digital payroll platform Bento expands to Kenya, Rwanda and Ghana, to enter six other African markets in 2022

TechCrunch

Bento , Nigeria’s digital payroll and human resource management platform is expanding to Ghana, Kenya and Rwanda with plans to set up operations in six other markets in Africa over the next one year. In its next phase of expansion, Bento is eyeing Egypt, South Africa, Uganda, Tanzania, Angola and Ethiopia by the end of next year.

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Umba, a digital bank for emerging markets, raises $2M Seed funding to expand across Africa

TechCrunch

Currently operating in Kenya and Nigeria, Umba offers a digital financial service alternative to legacy African banks. Right now it’s available in Kenya and Nigeria, which have a combined population of over a quarter of a billion people. It’s clear the African market is maturing and that we’re entering a very interesting phase.”.

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MoKo, Kenya’s home furniture startup, raises $6.5M

TechCrunch

Kenya has the largest and most thriving furniture industry in East Africa, but the sector’s potential is hindered by several challenges among them production inefficiencies and quality concerns, forcing most major retailers to settle on imports. The company is now eyeing its next phase of growth, following a $6.5 Digital-first brand.

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Pangea to unlock diaspora remittances as funding source for African startups

TechCrunch

Remittances from abroad reached $45 billion in 2021, with Nigeria, Ghana, Kenya, Senegal and Zimbabwe leading the list of recipient countries. And as annual inflows grow, Pangea’s country director and CEO for Kenya Anne Lawi told TechCrunch, diaspora remittances can be tapped to increase the amount of funding injected into startups. “And

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Kenyan fintech Asilimia raises $2 million in a pre-seed round, plans to extend loans to MSMEs and expand in East Africa

TechCrunch

The Kenyan startup has over the last three years been offering a lifeline to traders in Kenya by enabling them to make mobile money transactions that are devoid of transfer charges through its Leja app. Asilimia team in Nairobi, Kenya. Image Credits: Asilimia.

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Social commerce startup Kapu, by ex-Jumia executive, comes out of stealth with $8M funding

TechCrunch

Kapu says it has 1,500 agent collection centers across Nairobi, and will, in its next phase of growth, work to fully penetrate Kenya’s capital before expanding to new markets. Kapu joins the growing list of startups that are digitizing the informal retail sector in Kenya, including Tushop, which launched last year.

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