Pezesha, an Kenyan fintech company that offers bridging loans to small and medium-sized companies, raised $11M in a pre-Series B debt equity round. The Women’s World Banking Capital Partners II led the round in which the Cardano blockchain builder Input Output Global also participated.
Pezesha Solutions to MSMEs’ Working Capital Problems
Pezesha, a Kenyan fintech company, recently announced that it had raised $11 Million from its pre-Series A equity-debt funding round. According to a Techcrunch report, this series was led by Women’s World Banking Capital Partners II with the Cardano blockchain builder Input Output Global (IOG) also participating. Cfund, Verdant Frontiers Fintech Fund, and IOG were other participants.
According to the report, Pezesha intends to use the funds for expanding its embedded finance business, which will be available to small and medium-sized micro enterprises (MSMEs), operating in Francophone Africa, Nigeria and Rwanda.
Commenting on how Pezesha plans to avail its lending infrastructure to more MSMEs following its successful round, the fintech’s founder Hilda Moraa reportedly said:
MSMEs can have a huge impact on solving their problems with working capital. [We are]To ensure responsible lending and quality, we must solve the root problem, which is information imbalance issues. Our robust API-driven credit scoring technology solves these problems for Pezesha.
Pezesha will target women entrepreneurs
For his part, Charles Hoskinson, the co-founder of IOG and Cardano explained how this investment fits his organization’s core objective of helping African economies grow and create jobs.
“Our vision is centred on using technology to make it easier for people across the globe to borrow and lend to each other in a regulated way. This investment in Pezesha is an important milestone, and we’re excited to be a part of their growth story,” Hoskinson is quoted stating in the report.
Pezesha, in addition to providing funding for MSMEs and women entrepreneurs, was also mentioned.
To receive a weekly update about African news, sign up here
Let us know your opinions on the story. Comment below and let us know how you feel.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis article serves informational purposes. This is not an invitation to purchase or sell directly, nor a suggestion or endorsement of products, services or companies. Bitcoin.com doesn’t offer investment, tax or legal advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.