The company helps address and promote financial inclusion using innovative insurance products and services. SPOTLIGHT MEA: Fintech Entrepreneurship in Kenya. For over sixty years, the U.S. was the leading innovator of financial technology (or FinTech) in the world. App users can pay their bills, recharge their mobiles, make bus ticket reservations, and track their spending. Over the years, M-Pesa has emerged as the most successful FinTech firm in Africa. More Found inside – Page iThis book is open access under a CC BY 4.0 license. In its 2020 African tech startups funding report, Disrupt Africa identifies 99 fintech companies across 11 countries that raised some form of external funding from investors. The company already assist for Zimbabweans living in South Africa to send money home in an affordable way. JamboPay allows for mobile payments such as M-PESA, Airtel Money, Bank payments, Visa and MasterCard Debit and Credit cards. Explorer Kenya Safaris. In this article, I will show you a list of Fintech Companies in Kenya. Here is a list of some of the top fintech companies in Kenya. Kenya has a thriving and growing fintech space and has become a hub of fintech, financial services and wider tech for East Africa. Investors can access the company anywhere, anytime. Explorer Kenya Safaris is a Nairobi-based tour company that provides a range of specialised tours to numerous destinations across East Africa. South Africa, Nigeria and Kenya: Africa's Largest Fintech Hubs. Cellulant was named among the Top 50 . Finserve was borne out of a deep-seated need to break down financial barriers. However, FinTech is one of the most creative industries. Jumo is a fintech startup in South Africa that integrates mobile networks and SMEs. What do fintech companies do? It also . Year Founded: 2016. Kenyans can save and gain interest through Abacus without any bank account required. The following are the top 10 fintech payment companies and their worth: 1) Square Based in San Francisco, Square is a fintech firm […] Pesapal provides a simple, safe and secure way for individuals and businesses to make and accept payments through various payment options. It has provided services to more than 7.5 million customers since its establishment in 2014. Umati Capital is a fast-growing firm that offers a variety of credit products and related payment technology that aims to give clients the ability to unlock cash and grow their businesses. Safaricom is the leading mobile network operator in Kenya. Nairobi is the city with the largest fintech ecosystem in Africa, according to 2021 Global Fintech Rankings. To date the application has over 100,000 downloads on the app store. Their main product is merchant services. Global Fintech Index by Findexable recognized Kenya's efforts in regulation, as well as hosting various incubators and events which foster the fintech ecosystem. 15. Thinking about what joining a work space designed for business, could do for you and your team? Whenever we think of FinTech, we generally . Finserve addresses these complex financial and lifestyle obstacles by employing a data & insight driven culture, and efficiency to build products that produce richer customer experiences. Chura uses money services such as PayPal to Mpesa and Mpesa to PayPal. The mortgage industry, for example, is an industry that can greatly benefit from new lending technology. The company is known for its cost-effectiveness and easy-to-implement solutions. In addition to funding, it provides startups with feedback And mentoring. However, there is a credit referencing framework set up under the Central Bank of Kenya Act, Chapter 491 of the Laws of Kenya. While being the largest unserved market that has dropped out of sight of the global financial system, Africa as a market has all the prerequisites promising to serve as a firm foundation for FinTech growth and development. Members of the hub can facilitate cross . The foundation for the transformation driven by FinTech was first laid in the year 2007 with the inception of M-Pesa. The company has also been active in the acquisitions market, having taken over two competing Fintech companies in 2018 and 2021 respectively. Founded in 2004, Cellulant offers a mobile payment and digital commerce ecosystem for businesses. This legislation applies if the operations of the fintech business require it to . Kenya's commercial nerve centre jumped 26 places upwards to rank 37th on the global ranking. It is behind the development of financial development not only in Kenya but globally. Found inside... yelling at the top of her lungs that the hot dish of fermented cassava, ... Flutterwave is a fintech company and Andela a global talent network that ... The FinTech Times sit down with Kevin Mutiso of Alternative Circle Technology Solutions. Kenya has over 30 FinTech companies aiding Kenyans’ financial needs through money, cryptocurrency, e-wallet, shares, and others. Fintech is a booming industry that's on everyone's mind, especially investors.According to CB Insights, the space has raised $13.4 billion in the first quarter of 2021. It is a certified enterprise information technology solutions and financial services provider with operations across Africa. In this review, let's take a closer look at some of the interesting FinTech companies in Kenya - the country that is expected to become one of the hottest mobile money in the world by 2020 (Kenya has the highest rate of financially included population on the continent - 65%): 3G Direct Pay Group is an online solution for e-commerce . It is one of the few Fintech companies in Kenya that help local and international investors to access unit trusts, mutual funds, bonds, and stocks online. Leverage your professional network, and get hired. These startups and companies are taking a variety of approaches to innovating the Fintech (Financial Technology) industry, but are all exceptional companies well worth a follow. Found insideThe Next Africa captures this story. Authors Jake Bright and Aubrey Hruby pair their collective decades of Africa experience with several years of direct research and interviews. Found inside – Page 2Fintech, including mobile money, can help people and firms to maintain and ... for digital transactions (e.g., Ghana, Kenya, Myanmar, among others). Abacus builds web and mobile software to help investors across the globe access African financial markets. Their mass airtime enables corporations to supply airtime to their employees by just pressing a button. The company is diversifying its operations to create Chura Remit, allowing credit or debit cardholders to make transactions via Mpesa. We are Finserve and we are here to build relevant consumer-focused financial . The two include Digital payments provider Cellulant, and Mobile loans provider Tala who are among the three African companies representing Africa to be included in the list of leading . However, based on the strong foundation of mobile money in categories such as insurtech, crypto-currency and blockchain, group savings, comparison, and business solutions there is still an outstanding opportunity presented in Kenya. The 3 countries have a combined 450 companies and are driven by strong demographic indicators such as early regulation, increased connectivity, and proactive governments. Branch International is a microlending platform that allows customers access instant loan via their smartphones in a quick and easy way. Bitsoko is a mobile wallet that implements blockchain technology in a bid to both remove the cost of transferring money between two individuals and increase access to payment services. The company offers excellent solutions in e-commerce payments, bill payments, donations, till payments, fee payment and cash disbursement. Join 100,000 Subscribers AND GET OUR LATEST CONTENT IN YOUR INBOX, This website uses cookies. The investment firm deals with a wide range of sectors, including real estate, infrastructure, health, private equity, health and education. T echnological disruptions have greatly affected the Kenyan financial services industry in recent years. Below is a list of the top 10 FinTech companies in Kenya. The startup’s approach integrates blockchain with mobile money, allowing funds to be sent from the developed world through bitcoin and received as mobile money. The development in Kenya’s financial systems has shed some light on these companies, and people have started noticing all the benefits FinTech companies have. The foundation for the transformation driven by FinTech was first laid in the year 2007 with the inception of M-Pesa. Abacus. Follow Bizna Kenya to know more about FinTech companies and the financial development. Top Fintech Companies In Nigeria (summary) Note that the Fintech companies in this article are only a little among all FinTech companies in Nigeria grabbing the opportunity given by technological advances in the financial service industry. Found inside – Page 43There are now more than 500 companies providing technology‐enabled innovation ... in Kenya, and Lagos in Nigeria rank among the top 100 cities for fintech ... One of the top 10 Fintech companies in Nigeria is Branch, a financial service delivering provider focused on loan. Found inside – Page 101This start-up has also created a diverse company culture and has tapped into the ... The company has been listed in the top 250 fintech firms on the planet, ... With the introduction of online . by Richie Santosdiaz November 12, 2020. The company’s provision of cryptocurrency liquidity is one of its main selling points across Africa. BambaPos is a FinTech company that offers inventory management solutions to its clients. Abacus company allows its clients to access stock, bonds, unit trusts, and mutual funds online. 3G Direct Pay Group focus on offering e-commerce solution to their clients. Afvest Limited. New Fintech jobs added daily. This legislation applies if the operations of the fintech business require it to . List of Top Fintech Companies in Kenya. Founder(s): Kamal Budhabhatti A Safaricom employee displays the M-Pesa money . In 2020 alone, the total number of downloads exceeded 1.6 million. Top 10 Fintech Companies in Africa. Finserve operates Equitel, mKey, Jenga Payment Gateway, and Jenga API. Afvest Limited was founded in 2012 and is among the best-performing investment companies in Kenya. Size: 51-100. The business offers insurance services to individuals and companies. Do fintech companies that sell or market . Chura - Chura is a Kenyan, web, and SMS based service that allows mobile users to access Airtime and Mobile money services across different mobile networks in Kenya. The company has a platform- WazInsure- that rides  on a SaaS platform and manages the entire insurance value chain from underwriting to claims payments to ensure optimum performance and efficiency. Safaricom Limited Company. Here are some Kenyan companies that we think are leading the Fintech frontier. BitPesa is expanding its operations to allow transactions between Africa and the rest of the world. To improve efficiency platform M-Pesa, YU-CASH, Airtel money, Bank payments, fee payment digital! 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