Pezesha, a Kenyan Leading Digital Lending Platform, Raises $11 Million, with Investment from Cardano
Pezesha, a digital lending infrastructure and platform that helps finance medium, small, and micro enterprises startups (MSMEs) in Kenya, has raised $11 million in Series A to expand in Africa. The raise saw participation from: Women’s World Banking Capital...
Pezesha, a digital lending infrastructure and platform that helps finance medium, small, and micro enterprises startups (MSMEs) in Kenya, has raised $11 million in Series A to expand in Africa.
The raise saw participation from:
- Women’s World Banking Capital Partners II
- Verdant Frontiers Fintech Fund
- Input Output Global (IOG) – Cardano
Founded in 2017, has built a scalable digital lending platform that offers working capital to MSMEs in both traditional and non-traditional finance institutions.
To ensure quality and responsible borrowing, Pezesha has built a credit scoring API that has also been integrated into more than 20 partner companies, with 10 more getting integrated with its infrastructure. Some of its partners include Twiga Foods and MarketForce, leading startups in Kenya, enabling customers to get real-time loan offers via the Pezesha API.
Pezesha is able to extend loans of up to $10, 000 at single-digit interest rates with a one year repayment period. The company hopes to raise $100 million by tapping local and international banking institutions, high net worth individuals, and decentralized finance (DeFi) in order to offer financing opportunities to businesses.
Pezesha’s partnership with Cardano is expected to see the company build a peer-to-peer financial operating system in Africa.
According to Charles Hoskinson, Founder, Cardano:
“Facilitating the movement of capital into emerging markets to support economic growth and job creation is a core promise of blockchain and cryptocurrencies. Our vision is centered on using technology to make it easier for people across the globe to borrow and lend to each other in a regulated way.
This investment in Pezesha is an important milestone, and we’re excited to be a part of their growth story.”
– Founder, Cardano
According to Hilda Moraa, the CEO of Pezesha, strategic partners like Cardano will open up debt liquidity market and offer affordable capital that is criticial for the growth of various sectors of the economy.
“We have the right business model, are profitable, and continue to pursue the kind of investors that are aligned with our goals and values.”
– Founder / CEO, Pezesha
The new funding is expected to see Pezesha expand across Africa in the following countries:
- Francophone Africa
RECOMMENDED READING: Cardano Invests in AfriGuild, a Nigerian Web3 Gaming Outfit
Thank you for your support by helping us create content:
BTC address: 3CW75kjLYu7WpELdaqTv722vbobUswVtxT
ERC20 Address: 0x03139524428e40E31f13909f8D994C915FB91277
SOL address: 9cC65AWFHj848kntcoyiT8av3jiRQEqyTTmBR1GvVUb
Follow us on Twitter for the latest posts and updates
Join and interact with our Telegram community
Subscribe to our YouTube channel below for more updates:
World’s First Multi-Token ISPO — By Genius X - Starts on 12th of September, epoch 363!
Genius X, a revolutionary launchpad and business accelerator helping Web3 startups attain speed, scale, and edge, is thrilled to announce the world’s first Multi-Token ISPO.I WANT TO KNOW MORE!