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Kenyan fintech Ubawa secures $350K seed funding

Ubawa Technologies, 2021 African Start-up Awards Start-up of the Year winners for Kenya, has secured $350 000 in seed funding from Nigerian VC Platform Capital. The deal was match made through the South African platform Merge, and signals Platform Capital’s commitment to growth markets throughout the continent.

Ubawa offers cognitive data analytics through in-house software and infrastructure solutions alongside its payments processing platform.

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The fintech platform was founded by Wesley Masinde in 2021 and creates a better shopping experience through a proprietary payment processing platform, PAYCLOUD, and a conversational AI engine that can integrate into various social media channels and aggregate their inventory into a single dashboard.

This allows businesses to accept payments from all compatible payment apps.

An in-house team of experts develops systems that further enhance Ubawa’s value offering, providing cognitive data discovery services and analytics through innovative infrastructure and software solutions.

These solutions include disbursement services to help with internal payments management and automated reconciliation processes.

Ubawa’s payment gateway pulls together SMS, USSD, web, apps and social media, and allows clients to offer a wide range of options to their customers.

Merge is looking to be Africa’s go-to platform for start-ups looking to raise capital from investors locally and globally and played a key role in the funding round.

Read more: Unicorn in partnership with Merge launched a $1m African Startup Program to find and fund the continent’s best

Featured image by Cup of Couple/Pexels

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