Microfinance Startups in Africa
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Microfinance in Southern Africa remains crucial, with players like Maplerad and Egoras expanding. However, the sector faces challenges: high interest rates, regulatory hurdles, and competition from traditional banks. Local business leaders express concerns about sustainability and the need for innovation in product offerings.
Cummulative Funding
$8.3M+
Total # of Companies
3
Total Deal Count
4
Total M&A Count
0
Total # of Investors
24
List of Microfinance startups in Africa
Add Startup| Startuparrow_upward | Overviewarrow_upward | Last roundarrow_upward | Total raisedarrow_upward | Founded |
|---|---|---|---|---|
Banking services for the unbanked: Maplerad provides a modern banking platform for Nigerians. | Seed | $ 6,000,000 | 2022 | |
Egoras is a Nigerian startup provides uncollateralised micro-credit to small entrepreneurs. | Private Equity | $ 1,300,000 | 2019 | |
KIMS Microfinance is Somalia’s first and only dedicated and privately-owned microfinance institution. | Venture | $ 1,000,000 | 2014 |
Founded
2022
Overview
Banking services for the unbanked: Maplerad provides a modern banking platform for Nigerians.
Last round
Seed
Total raised
$ 6,000,000
Employee
2-10
Founded
2019
Overview
Egoras is a Nigerian startup provides uncollateralised micro-credit to small entrepreneurs.
Last round
Private Equity
Total raised
$ 1,300,000
Employee
11-50
Founded
2014
Overview
KIMS Microfinance is Somalia’s first and only dedicated and privately-owned microfinance institution.
Last round
Venture
Total raised
$ 1,000,000
Employee
51-200