This article showcases our top picks for the best Kenya based Fintech (Financial Technology) companies. These startups and companies are taking a variety of approaches to innovating the Fintech (Financial Technology) industry, but are all exceptional companies well worth a follow.
We tried to pick companies across the size spectrum from cutting edge startups to established brands.
We selected these startups and companies for exceptional performance in one of these categories:
- Innovative ideas
- Innovative route to market
- Innovative product
- Exceptional growth
- Exceptional growth strategy
- Societal impact
Top Kenya Fintech (Financial Technology) Companies
Direct Pay Online provides a real time, cloud based processing platform, with state of the art technology that supports multiple transaction types with online and offline capabilities. The technology supports all modes of payments, all cards, mobile money, all currencies, mobile apps & card readers.
The Direct Pay Online customer care team provides a single point of contact to you and your end customers. We support all levels of transactions by implementing a unique approach to ensure total conversion..
Cherehani Africa is transforming the micro finance market by leveraging proprietary technology to deploy capital at a 3X efficiency. The business model combines technology and human touch to provide credit to women micro-entrepreneurs in rural and underserved areas.
The model is built on top of the proven micro-savings groups structures. Cherehani also provides market information and financial education to its customers.
The suite of information is disseminated via a proprietary web based platform and augmented by in-person field visits.. .
PesaKit is an Artificial Intelligence (AI) powered virtual assistant for mobile money agents. It is a provider of a software application designed to digitize distribution and access channels for mobile money and digital finance.
Its software offers an artificial intelligence-based API driven interface which performs as a virtual assistant for mobile money agents that enables users to manage liquidity and conversion process easily. PesaKit was established in 2018 and is headquartered in Nairobi, Kenya..
Saada is a messaging and mobile money sales services for increasing digital sales and data collection, launched in Kenya. The solution has two plug & play components.
1. FLOW-Builder Microservice: – This service enables businesses to build USSD and Whatsapp Flows within a minute without requiring a technical team to develop the flow for them.
2. Integration Microservice: – Businesses that want to integrate auxiliary service providers such as Card payments, mobile money payment, Insurance payment, or bill payment face a challenge integrating with this service since Different service providers have different integration protocols such as SOAP, REST, XMLRPC.
The platform changes the paradigm of integration from software project-based to User interface configuration. This is achieved through a unified customer experience that is configuration-based and hosted in a central repository this means a change done to the services is instantly cascaded to all the channels at once..
The Kueq Limited
The kueq is a Virtual Bank mobile based user initiated Automated & manual lending & borrowing app providing a platform for Individual funders to loan to individual borrowers on 10 days & 20 days, World major currencies FX trading (USD/KES, EUR/KES, GBP/KES) Have a physical and or virtual prepaid card, credit card & or debit card, Make RTGS & international TT using SWIFT Pesa linked – local payment gateway Pay water, electricity, cable bills. Buy government treasury bond and treasury bills, Buy insurance covers both life & general insurance covers et al.
Crowd funding of it’s own shares, (Buy shares of The kueq limited on it’s own app. The next level crowd funding) based on real time company performance information e.g toplines, PAT, EBITDA, D/E, EPS, DPS, statutory ratios; cash ratios, core capital, Business accounts, Bid bond & invoice discounting.
Mobile Decisioning is a technology company providing mobile value added services to mobile network operators in emerging nations. Its main product is Airtime Credit Service, which provides emergency airtime credit to prepaid mobile subscribers.
This credit is typically paid back at the subscriber’s next reload. In 2012, Mobile Decisioning was announced as the winner of the IBM Global Entrepreneur of the Year Award at an event held in New York.
It currently has live operations in 13 countries in Africa. The company has to date facilitated transactions in the 13 African countries where it has operations, which has helped mobile network operators like Airtel and MTN increase both subscriber revenues and talk time on their networks.
Mobile Decisioning was founded in 2010 by [Julian Kyula](https://www.crunchbase.com/person/julian-kyula). It is headquartered in Nairobi..
Kiba is how apps connect to banks, easily. Kiba is an API technology provider whose mission is to enable innovative products to connect to banks, empowering a new generation of financial services in Africa.In the age of the connected, choosy consumer, service providers need to provide a frictionless user experience.
Kiba is the API middleware allowing your turnkey solutions to thrive in the age of open data and banking. We work behind the scenes, providing API connectivity to all banks via a single integration to retrieve data and initiate payments.
Kiba operates beyond the stability of in house integrations, and exceeds the benefits of outsourced connectivity.. .
We are a single factory processing and developing ideas turning them into innovations that would later light up Africa’s economies and matching it with the rest of the world. Through our Social Entrepreneurship setup, we amalgamate with founders, entrepreneurs, co-founders, individuals, investors, Capital ventures, Companies, public and private organizations, businessmen, software developers, traders in developing these successfully pitched ideas into companies later alone registered co-owned and we share their revenues with the founders and the communities around Africa.
Like any of all our ideal Entrepreneurial Candidates to be selected, the CEO & Founder of Afrigroups an African Entrepreneur too has designed the first set of companies as a book manual whose success will be portrayed to other entrepreneurs and founders that Social Entrepreneurship is possible. in a long run, Afrigroups Manufactures Companies ran them or sell them.
Apparently our horse power company is Voucher Pay/Bank/Send which is a SMS/Internet and payment banking platform where transactions are done by either SMS (Texting body, Voice SMS Command), bar-code scanning. All our businesses will use Vchpay as a payment method.
Still on the list and endless too, we have businesses like Afriglotto (A Charity raising lottery and gaming company) , Afrigbet (A betting and gambling Company) and Afrigent (An Entertainment and Event Managing company). .
SUPERFLUID LABS has developed a platform that enables businesses to identify and unlock hidden revenue opportunities and expand their services and impact to reach several millions more customers through the power of data and artificial intelligence (AI). Our team of data scientists, engineers and mathematicians have built a proprietary technology platform that mines customer transactional data to automatically predict future business events, reveal customer behaviours and trends (e.g.
credit risk and defaults), enhance engagement, reduce churn risk, and increase overall profitability. Our mission is to bring AI to businesses and consumers to drive economic growth and opportunities.
Superfluid Labs is a limited liability company incorporated in Germany, Ghana and Kenya with offices in Frankfurt, Accra and Nairobi.. .
Umati Capital is a start-up financial services company that aims to revolutionize access to finance through the consistent and innovative use of technology. Launched in September 2012, they are a non-bank financial institution focused on the provision of credit and related payment technologies.
They are currently focused within agri-business supply chains, retailer value chains and fast moving consumer goods manufacturers. They leverage proprietary technology to provide branchless financial services to small scale suppliers, trading companies and industrial processors..
Tanda is a fintech startup working to revolutionize access to essential digital financial services for MSME’s across Africa. Through Tanda, micro-retailers can not only access inventory credit, but also become access points for essential services such as Airtime, Utility payments, M-banking & Insurance for their customers.
For the longest time, shopkeepers have been the cradle for African communities. They supply over 70% of essential goods, worth over $180 Billion annually across the continent.
It comes as a shock that despite their importance to local economies, over 90% of micro-retailers do not have any credit history nor access to financing from Banks or MFI’s. Tanda plans to close this financing gap and drive financial inclusion for low income MSME’s across the continent..
Eastpesa delivers affordable instant money remittance services anytime, anywhere to mobile money and bank accounts in Africa from across the globe. They are have significantly reduced remittance cost in Africa from an average of 16% and have pioneered realtime peer to peer money transfers which are currently at just 9%.
Eastpesa has been featured among the 37 Fintech companies to watch in Kenya in 2017 and they were finalists in The Benzinga Fintech Awards 2017.. .
Zanifu is a financial technology credit provider that supports individuals and businesses across Africa. It offers a lending platform for small and medium-sized enterprises.
Its mission is to bridge the credit access gap with responsible, innovative, and flexible products, delivered in an efficient and empathetic way. The company was founded in 2016 and is headquartered in Nairobi, Westlands..
Paytree is a full stack payments platform that makes it easy to accept payments in your app or website. We are a merchant focused platform and help merchants receive payments through mobile banking, mobile money or cards seamlessly.
We eliminate the need for cash on delivery services that are both cumbersome and risky. Paytree Group empowers African businesses to handle digital payments globally and to build simple, seamless and secure payment experiences for their customers.
Paytree is changing the e-commerce space by enabling African business to handle digital payments seamlessly. We provide Small and Medium businesses with free tools and an e-commerce shop to enable them to grow..
Professional Digital Systems Limited
Kenyan-based Professional Digital Systems Ltd. is a leading ICT and Fintech solutions provider delivering innovative solutions that ease the way our clients do business.
Our expertise lies within digital payment solutions, premium rate services, vending solutions and power solutions (power line construction and solar installation). Our portfolio has evolved and grown throughout the years enabling us to provide custom solutions.
With dedicated support systems, PDSL is committed to delivering quality by designing, developing, hosting, integrating and supporting solutions using state-of-art technology. We have a proven track record working with both international and local partners providing them with channels to enter the African market in the ICT and Fintech industries.
Today, PDSL is coming up with more innovative solutions to help our clients and partners transform and adapt with the dynamicity of technology while breaking into new markets throughout Africa.. .
Abacus builds web and mobile software to help investors across the globe access African financial markets. We make it possible for both local and international investors to research and invest, anytime, anywhere.
Our founders, advisors, and board of directors have extensive experience in global financial markets. We love what we do, and are infinitely curious..
Ifarm360 is a digital crowd farming platform that links smallholder farmers in Africa with crowd investors across the world. The startup leverages technology and climate-smart systems to de-risk investments in agriculture and empower farming as a business.
This is done through alternative financing, market linkages, integrated advisory services, solar irrigation, and remote sensing technology for agro-analytics.. .
Moripesh Group Africa is a tech investment company, based in Africa, we developed a cloud-based ecosystem built around, Digital Currency, E-commerce, and Investment Banking. We are currently operational in Africa, under the following startups, VeeshAfrica (e-commerce), LearntAfrica (Digital Payments – Blockchain), MIFA (Investment Management), and ZuruWireless (Cloud Computing).
Our ecosystem is built around the ease of doing business in Africa whilst providing an avenue for business growth and digital security. Through our startup LearntAfrica, we are developing two content streaming applications that link to our payments blockchain (LearntPay), our main focus being the youth in Africa, using our platforms, the youth in Africa can create avenues for alternative sources of income through, education and entertainment.
Leveraging on our relationships with Informal Businesses and MSMEs in Africa, we help them scale their businesses online, by providing e-commerce solutions, last-mile delivery, digital marketing, and online shop management, we also drive the adoption of LearntPay digital payments to everyday transactions. Our ecosystem users can earn digital currency through content creation and streaming then spend their earned currency on products sold on our e-commerce platforms.
Providing lesser transaction charges, faster and secure transactions on the blockchain, and access to investment financing and emerging markets for MSMEs, all managed seamlessly through cloud computing.. .
RePay Platform API’s an African wide payment & transfer platform that support online money transfer and bills payment. RePay platform serves as electronic alternative to cash, cheques & banks.
RePay is used by merchants, Agency service, remittance across Africa in Kenya, Nigeria, South Africa & Ghana.. .
Alliance Premium Services Limited
Alliance Premium Services is a Fintech company that enables and powers the Tupay payment app and services. The company has positioned itself primarily as a Business-to-Consumer financial service provider.
Our passion is in powering new and intuitive customer experiences, driving consumer engagement through digital touch points and driving innovation through new propositions as an early adopter. .
Regalia International (k) Ltd
Mr Banks is an ambitious platform aimed at bringing consumers closer to financial institutions by providing the best matches to their individual financial needs. By allowing convenient access to a wide range of banking products, the website addresses a major pain-point in Kenya and helps users make the best and most informed financial decisions.
With so many banks in Kenya, many of us find it tedious to scrutinize the hundreds of bank products and their different features. This gap is where Mr Banks comes in.
Mr Banks acts as your best friend when deciding what account works best for you, or which bank has the perfect loan for your needs. Whether you’re price sensitive or concerned about turn-around time, Mr Banks collects your information into a database, then submits your request to the relevant banks who in turn revert with their best offers, making it so much easier for you to choose a banking product that fits your needs.
By constantly updating content, we stay current to help you make the best and most informed financial decisions. We developed Mr.
Banks to give you a better experience with: Getting the right account for you from the thousands of options out there; Convenient access to the most affordable loan by bring the banks to you; Getting you the best returns on your fixed deposit; The most competitive live foreign exchange rates at the touch of a button. In order to make an informed financial decision, your needs must be matched with the right product from amongst the countless options out there.
We have developed a smart network of banks that want you to know their products. And in return, you save yourself: The time and energy of shopping for a bank or a service; The resources it takes to visit all these institutions physically or making unnecessary phone calls; The risk of getting short-changed just because you are in a hurry; The hurdle of sifting through a horde of brochures and confusing packages.
SokoHela is a technology enabled short term working capital, fresh food produce and financial literacy provider for micro, small and medium enterprises in the urban agricultural value chain. We focus on fruit vendors, groceries (mama mbogas), small fast food joints, cereals shops and other food vendors.
Equipped with an intimate understanding of the immediate financial needs of our customer base, we seek to re-organize the agricultural value chain by empowering urban agribusiness vendors (demand side) so that they can unchain the rural farmer (supply side) for an efficient ecosystem.. .
Ryanada is a Big Data Company on Mission to empower people via Technology.Through portfolio Cloudpap, Jisort, Truehost Cloud Ryanada empowers SMES via Cloud, IoT and AI Technologies. Cloudpap is a Iaas portfolio company providing powerful, reliable, and inexpensive cloud in 10+ locations across 5 continents.
www.cloudpap.com Jisort is a platform that is creating financial freedom and inclusion across the world. Jisort empowers Microfinance Institutuions, MFIs, Credit Unions, SACCOs, Lending Companies to Reach, Appraise, Lend, Disburse and Manage Microloans.
Jisort is the platform that has created freedom of choice to consumers through access to multiple financial products from multiple financial partner institutions. www.jisort.com Truehost Cloud provides managed cloud computing environment for SMEs in Kenya, Nigeria and India.
Main services include custom cloud hosting, emails, web and application hosting.. .
Once Sync Limited
Once Sync limited is a tech startup based in Nairobi, Kenya. We focus on Blockchain Technology on two verticals that’s Financial services & AgriTech.
Our goal is to provide financial inclusion to the more than 66% Unbanked population in Africa as well as enable data driven agriculture to more than 600 Million African farmers. In addition we create solutions using emerging technologies such as Machine Learning, Artificial intelligence and Blockchain to enhance productivity and transparency..
The Valuraha Trader is a virtual trading platform that simulates the Nairobi Securities Exchange & the larger financial ecosystem. The platform is built to recreate the entire securities market ecosystem on the web in a bid to enable users interact with a realistic simulation for practical learning.
It also offers relevant market data to inform investment decisions. The platform is initially targeted at high school and university students as a learning tool that adds much needed practical experience to the current curriculum & to increase the level of financial literacy.
The Kenyan Government is very keen on increasing Financial Literacy among the the in learning institutions through regulatory bodies such as the Capital Markets Authority. This indicates that we are supporting a need that is recognised.
The bigger goal is to transition from virtual trading to actual trading & uptake of financial instruments.. .
OCharge is an airtime recharge app, that rewards its users with exclusive and meaningful benefits from our merchant partners. When users buy airtime with OCharge, they are instantly rewarded with free points that give them access to special offers on food, drinks, spas, fashion, electronics and more, from our various merchant partners.
With our unique business model, we create a win-win proposition by driving efficiencies in interactions between users and brands. We not only give users more value for every shilling spent, but also help merchants drive online-to- offline traffic and additional sales.
We leverage actual payments and offer redemption data to create insights into user’s spending preferences, and use them with our machine learning algorithms to create a customised app experience with more targeted benefits for each user. We are creating an efficient ecosystem that allows small and big merchants to effectively target the right customer with the right benefit at the right time.
Merchants use our platform to solve their biggest marketing challenges; 1) get new customers and additional sales 2) improve cash flows by increasing capacity utilisation during lean periods, or liquidating unsold inventories 3) testing the potential of any new products or services they want to introduce in the market.. .
We are Building a trade finance Crypto bank on blockchain for Africa and emerging markets ICN aims to provide financial inclusive services for the Informal and SME merchants and Traders involved in cross-Border and International trade by creating a decentralized and transparent banking platform underpinned by a Digital wallet that stores and accepts Fiat Virtual money and Crypto currency we aim to eliminate expensive & Insecure paper cash as the primary medium of exchange. Mobile Money, Blockchain and Cryptocurrency have created a new Paradigm in doing business.
Customizing this technology to be relevant for every day use, revolutionary in leveling the opportunity fields and attaining cultural acceptance we have achieved powerful milestones with working and Proven concepts. We have turned years of effort,toil and near synchronized perfection into highly succesful business and model for the future..
Having spent the last 3 years building the rails of mobile money processing which in 2017 mobile processing hit USD 1 Billion Per day. Creating Interoperability between different Networks giving us unparalleled .access to hundreds of millions of wallets their accompanying merchant payout network and POS terminals ICN API has built a global financial infrastructure that assures secure end to end straight through processing.
Riding on the Stellar Blockchain we are in the process of building one of the largest offline and online Financial Blockchain with Grass roots exchanges for B2B and B2C transactions. The ICN Ecosystem includes – 1.
ID Generation| 2. Crypto Exchange 3.
Mobile money Fiat exchange | 4. Hybrid Universal Wallet | 5.
Chase Iman has the distinction of being the fully Shari’ah compliant arm of Chase Bank Kenya. Launched in May 2009, it has combined traditional Islamic values with the best of technology and innovation to provide a complete bouquet of Islamic finance and banking products.
With its dedication to modern banking, the banking products are offered to all clients across the board and not exclusively limited to customers dependent on their faith or beliefs. Our goal is to penetrate the Kenyan market in all respects, making Islamic financing both accessible and convenient..
Lipacard is a Kenyan Tech start founded in January 2014. Lipacard is a forward-thinking, solution-driven entity.
Using a unified approach involving best-of-breed applications adhering to global best practices, they have developed cashless transaction platform for students using contactless technology while incorporating consultancy, design, delivery, support and training. They are the only ICT company in the region to provide a payment platform that incorporates mobile money and use of contactless technology (NFC technology) in education sector..
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