Kenya has rapidly established itself as a global fintech hub, thanks to its innovative startups that continue to revolutionize financial services. These fintech companies provide solutions to a wide range of issues, including financial inclusion, mobile banking, lending, and digital payments. As the fintech ecosystem in Kenya continues to grow, we provide a list of finetech startups in Kenya below.
- M-Pesa
Launched by Safaricom in 2007, M-Pesa is perhaps Kenya’s most iconic fintech innovation. It provides a mobile-based money transfer, financing, and microfinancing service, allowing users to send money, pay bills, and access loans using their mobile phones.
M-Pesa has greatly enhanced financial inclusion in Kenya, with millions of Kenyans using the service for their daily transactions.
- Tala
Tala is a mobile lending app that provides short-term loans to Kenyans. The app uses data from users’ phones, such as SMS records and transaction history, to determine creditworthiness, making it easy for users to access loans even without formal banking histories.
Tala has empowered many Kenyans by offering quick and easy access to loans, supporting small businesses and personal needs.
- Branch
Branch is another popular mobile loan app in Kenya. It offers quick loans without the need for physical documentation or collateral. Similar to Tala, Branch uses mobile data to assess the creditworthiness of users.
Branch has helped millions of Kenyans with emergency loans, and its flexible loan terms have made it a popular choice for users seeking financial relief.
- PesaPal
PesaPal is a payment gateway that allows businesses and individuals to accept and process payments online via mobile money, credit cards, and other digital wallets. It integrates seamlessly with e-commerce platforms, enabling businesses to transact efficiently.
PesaPal has played a significant role in promoting online commerce in Kenya by providing secure and reliable payment processing solutions.
- Jumo
Jumo offers digital financial services, including savings and loan products, to people and businesses in emerging markets. It partners with banks and mobile network operators to offer these services through mobile phones, enabling financial inclusion for underserved populations.
Jumo has significantly contributed to improving access to financial services for both individuals and small businesses across Kenya.
- Zoa
Zoa is a new fintech startup that focuses on cross-border money transfers. It offers a fast and affordable way for Kenyans to send and receive money internationally, using mobile wallets or bank accounts.
Zoa simplifies international remittances, making it easier for Kenyans in the diaspora to support their families and invest back home.
- Cellulant
Cellulant is a leading digital payments company that offers payment solutions across Africa. Its flagship product, Tingg, is a payments platform that connects consumers and businesses to financial services through mobile and digital channels.
Cellulant’s Tingg platform has expanded access to digital payments, allowing businesses and individuals to manage their finances more effectively.
- Kopo Kopo
Kopo Kopo helps businesses accept mobile payments, manage their finances, and grow their operations. It provides services like working capital loans, payment processing, and customer analytics, making it an essential tool for small and medium enterprises (SMEs).
Kopo Kopo supports SMEs by offering tools for business growth and financial management, thus fostering entrepreneurship in Kenya.
- Pezesha
Pezesha is a peer-to-peer (P2P) lending platform that connects small businesses with lenders. It enables micro, small, and medium enterprises (MSMEs) to access credit, helping them scale their operations and grow.
By bridging the gap between lenders and small businesses, Pezesha has supported the growth of Kenya’s MSMEs and improved access to capital.
- BitPesa
BitPesa is a digital foreign exchange and payment platform that leverages blockchain technology to offer fast and cost-effective cross-border payments. It enables businesses to send and receive international payments efficiently.
BitPesa has enhanced cross-border trade by reducing the costs and complexities associated with international payments, especially for businesses transacting with countries outside of Africa.
- Lipa Later
Lipa Later is a buy-now-pay-later (BNPL) fintech company that allows customers to purchase goods and services in installments. It partners with retailers to enable consumers to make purchases and pay in easy, flexible payments over time.
Lipa Later has empowered consumers by allowing them to access goods and services without the need for upfront payments, improving their purchasing power.
- Chipper Cash
Chipper Cash is a cross-border payments platform that enables instant, no-fee money transfers across Africa. It is ideal for Kenyans who want to send money to family or friends in other African countries, as well as for small businesses engaging in cross-border trade.
Chipper Cash has made intra-Africa money transfers more accessible and affordable, promoting regional trade and financial inclusion.
- Tanda
Tanda provides agency banking services, allowing small retailers to offer banking services such as deposits, withdrawals, bill payments, and loan applications to their customers. This brings financial services closer to underserved communities.
Tanda has expanded access to essential banking services in rural and low-income areas, supporting financial inclusion across Kenya.
- Aspira Kenya
Aspira offers consumer finance services that allow Kenyans to buy household items, electronics, and other products on credit. The platform provides flexible repayment plans, making it easier for consumers to access goods and services.
Aspira enhances the buying power of consumers by providing affordable credit solutions for everyday needs.
Also Read: List Of E-commerce Websites In Kenya