• About
  • Advertise
  • Careers
  • Contact Us
Tuesday, July 1, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Business StartUPs

Finclusion Group closes $20,000,000 in debt and equity pre-Series A financing

by Joan Aimuengheuwa
January 18, 2022
in StartUPs
0
UBA
Advertisements

Sub-Saharan-focused financial institution driver, Finclusion Group has raised $20,000,000 in debt and equity pre-Series A financing.

Leveraging AI algorithms to provide financial services to African customers via an array of credit-centric products, Finclusion is set to develop credit-led neobank offerings across the continent.

The pre-Series A round included notable investors such as Andela and Flutterwave co-founder Iyin Aboyeji — who invested via his VC firm Future Africa, LendInvest founder Christian Faes and ComplyAdvantage founder Charlie Delingpole.

Amandine Lobelle, Jai Mahtani, Sudeep Ramnani, Jonathan Doerr, Richard Aseme (RCA Ventures), Klemens Hallmann, among others, also joined existing investors such as Manuel Koser, Alexander Schuetz and Christian Angermayer, Leo Stiegeler, who participated in Finclusion’s previous round.

The debt financing made up the larger share of the pre-Series A round and was invested by local currency funds in Eswatini and South Africa. 

Finclusion Group
Advertisements
MTN ADS
Finclusion

Finclusion targets strengthening existing operations in South Africa, Eswatini, Kenya, Namibia and Tanzania and expanding into new markets in Mozambique and Uganda. The company seeks to further its financial inclusion drive within market segments that have traditionally been underserved across the African continent, with a current focus on southern and eastern Africa.

So far, Finclusion has built consumer-facing credit products to close the credit gap in countries where it operates and has disbursed over $300,000,000 worth of loans to over 240,000 customers till now. 

From September last year, when Finclusion raised its debt capital from Lendable, the fintech has recorded an uptick in monthly disbursements, increasing 140% over the last 18 months. Its loan book also grew 30% from December 2020 to December 2021.

Having developed an insurance product and also plans to offer savings products, cards and buy-now-pay-later offerings via a merchant network, Finclusion is forming a pan-African neobank.

 

Loading

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: Amandine LobelleCharlie DelingpoleFinclusion GroupIyin AboyejiJai MahtaniJonathan DoerrRichard AsemeSudeep RamnaniTimothy Nuy
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post

Rooted in the cloud, Routed announces its unique partner portal 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Nvidia AI Supremacy Shaken Ahead of Earnings

Nvidia’s AI Supremacy Shaken Ahead of Earnings

4 months ago
Ajaokuta Steel Mill

FG Pays $496m to Resolve Claims Regarding Ajaokuta Steel Mill

3 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.