Kuunda, a Tanzanian-based B2B fintech startup, has secured $7.5 million in pre-Series A financing to support the expansion of its embedded liquidity platform throughout Africa and the Middle East. By directly integrating working-capital solutions into digital payment systems, this platform enables merchants, agents, and small businesses to access credit at the point of sale.
Kuunda’s growth strategy is bolstered by the robust support of key investors, including Portugal Gateway Fund, Seedstars Africa Ventures, and Nedbank, in the new funding round.
Expanding Real-Time credit access in emerging markets
Kuunda has partnered with banks, mobile money operators, e-commerce platforms, and PoS providers to seamlessly integrate credit products into digital ecosystems since its establishment in 2018 by Andy Milne, Sam Brawerman, and Morne van der Westhuizen.
These products are intended to facilitate real-time microcredit at the commerce periphery, including loans for airtime top-ups, merchant cash advances, stock financing, and mobile money liquidity.
“This funding enables us to extend credit where commerce happens — directly to the agents, MSMEs, and merchants that power emerging markets,” said co-founder and co-CEO Andy Milne.
Kuunda disburses approximately $100 million in credit monthly to two million consumers in Tanzania, Kenya, Uganda, and Mozambique, helping its banks and fintech partners lend over $3 billion.
Kuunda intends to reinforce its commitment to providing productive financing solutions precisely where they are most needed by expanding into Saudi Arabia, the UAE, and Morocco, deepening its partnerships and entering Egypt’s $115 billion PoS market with the new capital.