European Investors Back Kenyan Fintech “ Asilimia” with Equity And Debt

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Kenyan fintech Asilimia raised $2 million in pre-seed funding ($1 million equity and $1 million debt), the funding came from various investors, including Fredrik Jung Abbou, a two-time unicorn founder and Norrsken Impact Accelerator, while the debt round had the participation of French Public Investment Bank (Bpifrance) and GreenTec Capital Partners.

The startup said the seed raised will be used for its next phase of growth, which will involve extending loans to traders offering more relief to this subgroup that is often left out and regarded as high risk by the traditional banking sector.

According to TechCrunch on the 23rd of November “Asilimia is set to use the funding to hire talent as it looks to fine-tune its technology and expand to another market within East Africa. It will also extend loans to micro, small and medium-sized enterprises (MSMEs) based on data from its Leja app”

Asilimia is a financial peer to peer and peer to business platform which aims to transform the existing landscape of Kenya by zero rating mobile money transaction fee,with a current bias to making mpesa transactions free and Quick.

– TechCrunch

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