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The Finclusion Group is taking a big step towards diversifying its offerings and expanding its reach into other parts of Africa. In this article, we take a look at their funding round and the details of what it means for them.

Funding round details

Finclusion is a credit-led neobank that is leveraging artificial intelligence (AI) to provide financial services to African customers. The company was started in mid-2018 by Timothy Nuy and Tonderai Mutesva. The company currently has a footprint in five countries, including South Africa and Kenya.

It also has an impressive loan book, with over $300 million disbursed to its customers. A recent funding round saw the company receive $20 million in debt and equity capital from Lendable. This money will be used to expand the organization’s operations and build new offerings. In addition, the company plans to open a new hub in West Africa in the near future.

As part of its brand integration, the company is rebranding itself as Fin. In addition to its product offerings, Fin also offers financial wellness solutions to employees. For example, it offers payroll loans, buy-now, pay-later technology, and HR solutions minishortner. Currently, the company has 240,000 customers, with a goal of reaching over 2 million by the end of 2020.

Rebranding to Fin

Fin inclusion Group is making waves in the financial services sector by using AI and other technologies to deliver top-notch financial services to its customers in Africa. It has recently received a $20 million pre-Series A financing round, and is now rebranding to Fin. The name change is part of an overall brand integration strategy. The new brand will include a rebranded parent company, as well as subsidiaries in Kenya, Tanzania, South Africa, and Ghana.

Fin inclusion is a neobank in the making, and has been attracting both institutional and individual investors with a growing appetite for fintech companies in general. Investors include RCA Ventures, Klemens Hallmann, Richard Aseme, Jonathan Doerr, and Sudeep Ramnani. The company has a number of consumer-facing credit products that are currently in operation, but needs to increase distribution efforts to reach neobank like numbers.

The company has recently announced it will be adding an extra US$2 million in funding to continue building out its core business. With five administrative hubs and over 1.2 million employees serving the company’s employer partners, the company has a lot to show for its efforts.

Expanding into Mozambique and Uganda

Finclusion Group, an African-focused FinTech platform, has raised $20 million in debt and equity funding. The Mauritius-based FinTech company uses artificial intelligence (AI) algorithms to create credit-centric products for African consumers. It has administrative headquarters in five African markets makeeover .

The company is already operating in Kenya and South Africa. It has plans to open offices in West Africa soon. In addition to loans, it offers insurance and a card. It also has a product that provides access to future wages for employees. These products are geared towards digitally-savvy populations.

Fin inclusion group is in the process of rebranding itself as “Fin,” a name that will better align with its commitment to financial inclusion in Africa. Its investors include Charlie Delingpole, Jonathan Doerr, Richard Aseme, Christian Faes, Klemens Hallmann, Sudeep Ramnani, and Amandine Lobelle.

Finclusion will also be launching an online platform for merchants to sell buy now, pay later products to consumers. This will help them reach a broader audience. In December 2020, the loan book of Finclusion increased by 30 percent. Currently, the company has more than 240,000 customers.

Diversifying its offerings

The Finclusion Group, an African-focused FinTech platform, has closed an equity round of $2 million. This pre-Series A financing is being used to expand its operations and diversify its offerings. It uses AI algorithms to provide financial services to African customers. These services include insurance products, employee and consumer-facing credit products, and future wage loans.

The company, which operates in Tanzania, South Africa, Namibia, Eswatini, and Kenya, has been able to build credit histories for thousands of customers. Its customers include small businesses and large corporations. For the past year, Finclusion has been growing, and expects to double its originations and revenues this year. In the last 18 months, the number of active loan applications by its customers has increased by 140%. Now that the bank has established a significant customer base, it is working to expand its offerings.


Finclusion plans to expand its operations by opening a new hub in West Africa soon. The company will continue to focus on providing innovative financial products to African consumers. Read more about smart export import expedition business guidance for all entrepreneurs dvcodes


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