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South Africa-based Akiba Digital raises USD 1.1 mln funding

Monday 19 July 2021 12:01 CET | News

Fintech startup Akiba Digital has raised over USD 1.1 million in pre-seed funding to help it grow its market share, according to disrupt-africa.com.

Founded in 2017, Akiba Digital reportedly enables lenders to better extend capital to small businesses and individuals, providing nuanced credit insights and real-time lending decisions. The startup uses alternative datasets to provide inclusive scores that allow lenders to score people and small businesses that cannot be reached by traditional credit bureaus – a problem that affects nearly 80% of small businesses and individuals in Africa.

The USD 1.1 million pre-seed funding round is led by Expert DOJO and Oui Capital, and also includes Basecamp Fund, Soma Capital, Hustle Fund, Future Africa, LoftyInc, a former PayPal executive, and a handful of angel investors. The cash will be used by Akiba Digital to grow its market share in South Africa and connect over 20,000 SMEs to lenders through its ecosystem. 


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Keywords: fintech, startup, lending, credit scoring, Open Banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: South Africa
This article is part of category

Banking & Fintech