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Tanzanian startup Tunzaa secures new funding for payments API

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Home Business Startups

Tanzanian startup Tunzaa secures new funding for payments API

Modupeoluwa Olalere by Modupeoluwa Olalere
December 5, 2024
in Startups
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Tanzanian startup Tunzaa secures new funding for payments API

Tanzanian startup Tunzaa secures new funding for payments API

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Tanzanian fintech startup Tunzaa made headlines on Wednesday after securing funding from Warioba Ventures to enhance its innovative payments API.  

The startup received undisclosed investment from Warioba Ventures to expand

With this funding, the startup, which wants to transform e-commerce transactions in Africa by providing flexible monthly payment choices, has reached a major milestone.

Read also: Moroccan startup Enakl raises $1.4 million to address traffic congestion, carbon emission challenges

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Empowering consumers with flexible payments

Tunzaa, founded in 2021, has created a platform enabling customers to buy goods with affordable payment plans. This strategy encourages financial inclusion and regional economic empowerment, making it easier to obtain commodities.

By gamifying savings, Tunzaa encourages users to save towards specific goals, creating an engaging experience that fosters better financial habits.

In a statement, Warioba Ventures expressed their commitment to supporting solutions tailored for African markets: “This investment underscores our commitment to fostering solutions that address the unique challenges of African markets while creating a ripple effect of financial empowerment and economic growth”.

They believe Tunzaa is set to redefine how payments and savings are integrated into the e-commerce experience.

Read also: Fako Capital to invest €500,000 in high-impact SMEs across Cameroon, Central Africa

A vision for financial inclusion

Ng’winula Kingamkono, Tunzaa’s founder, was influenced by his Tanzanian upbringing. He recognised that many struggle to acquire desired things and maintain healthy financial habits. Tunzaa uses technology to improve Africans’ finances.

With this cash, Tunzaa intends to expand its services and gain more continental customers. The startup’s creative approach makes it a fintech leader, addressing challenges including credit and financial services access.

Tunzaa shows how fintech can empower people economically as it grows. If Warioba Ventures helps this ambitious business make financial services more accessible and user-friendly for all Tanzanians, its future seems bright.

Tags: TanzaniaTunzaaWarioba Ventures
Modupeoluwa Olalere

Modupeoluwa Olalere

Modupe is a tech content writer with 3+ years of experience turning complex ideas into clear, engaging stories. She covers innovation, digital trends, and emerging technologies. When she’s not writing, she’s exploring new tools or tracking trends shaping Africa’s tech ecosystem.

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