Pan-African embedded finance Fintech Pezesha has raised a pre-series A funding of $11 Million.
Pezesha provides a B2B digital lending infrastructure centered on offering reasonably priced working capital to financially excluded SMEs in Sub-Saharan Africa. This sector is estimated to face a $328 Billion financing hole. Pezesha was based in 2017 by Hilda Moraa, a 2nd time Fintech entrepreneur who efficiently exited her first Fintech enterprise in 2015. Pezesha will use the proceeds of this funding to develop its presence in East Africa and develop its digital lending infrastructure to the West African market.
Headquartered in Kenya, Pezesha has been centered on fixing arduous infrastructure issues that exclude MSMEs within the “lacking center”. By bridging the MSME data hole and mending fragmented worth chains, Pezesha has change into a pacesetter in Embedded Finance in Africa, providing productive credit score to tech-enabled platforms akin to Twiga Meals, Jumia and Marketforce amongst dozens of others.
Companions combine seamlessly with Pezesha’s APIs and provide credit score amongst different monetary providers to their service provider community on the level of sale. Pezesha’s credit score scoring APIs act because the engine of a easy however strong course of the place MSMEs obtain actual time mortgage provides to buy inventory and pay later. Pezesha additionally provides monetary literacy programs and debt counseling to MSMEs who don’t qualify for loans as a way to enhance their credit score scoring and guarantee accountable borrowing as they develop inside the Pezesha monetary ladder.
Within the final 2 years Pezesha has grown the worth of its disbursements over 2,000% via disbursement of greater than 100,000 loans to MSMEs in Kenya, Uganda, and Ghana.