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Kenyan fintech secures seven-figure in seed funding
Nairobi-based fintech Pezesha has raised a seven-figure seed extension from GreenHouse Capital, a leading African fintech investment fund.
Pezesha has secured an undisclosed seven-figure seed extension
According to reports, the funding will be utilised towards the fintech’s expansion of its embedded credit infrastructure across the African continent.
Further to this investment, the fintech secured on-lending liquidity support from Venture Garden Group. This will further assist the fintech in expanding the capital available for its institutional partners who lend funding to SMEs.
Hilda Moraa, CEO and Founder of Pezesha, comments on the new funding secured.
“We are delighted to have GreenHouse Capital join the Pezesha family. We are aligned in vision as well as our commitment to solving the working capital challenges that are preventing African SMEs from achieving their full growth potential. GHC’s investment will catapult our growth by enabling us to scale our existing partnerships with the likes of Twiga Foods, Jumia, Marketforce, and Popote Pay, among others. More so, the investment will unlock our vision of building the operating system to power embedded finance in Africa”
Founded in 2016, Pezesha is a pan-African fintech startup that provides scalable lending infrastructure for SMEs and institutions. The fintech aims to provide affordable financial services to underserved SMEs.
The innovative fintech enables non-traditional financial institutions to offer working capital for SMEs by using its lending infrastructure. Using its robust APIs, the fintech is able to originate quality SMEs and original credit scoring models which allow capital to flow productively.
Ruby Nimkar, Principal at GreenHouse Capital, comments on the innovative and impactful product and service which the fintech offers.
“Pezesha is breaking down barriers to SME financing by taking an ecosystem approach to the problem of access to capital. Their embedded finance model is truly groundbreaking, and we have full confidence in Hilda and the talented team at Pezesha to take their model into new markets and continuously close the SME financing gap across Africa.”
Read more: E-logistics platform secures $150 000 in seed funding
Featured image: Pezesha team (Supplied)