The Kenyan embedded finance fintech company Pezesha (website) secured an $11 million pre-Series A equity round led by Women’s World Banking Capital Partners II with participation from Verdant Frontiers Fintech Fund, cFund, and Cardano blockchain maker Input Output Global (IOG). The round also included a $5 million loan from Talanton and Verdant Capital Specialist Funds.
Founded in 2017 by Hilda Moraa (LinkedIn), pictured above, Pezesha has built a scalable digital lending infrastructure that enables both traditional and non-traditional financial institutions to offer working capital to MSMEs.
The fintech’s new growth strategy follows its plan to expand its embedded finance offering beyond its current markets, including Uganda and Ghana, to address the funding gap affecting millions of micro and small, medium enterprises (MSMEs) in those markets.
“The opportunities and impact in solving working capital problems for SMEs are huge. [We solve information asymmetry’s root cause to ensure quality and responsible borrowing. Pezesha solves this through our robust API-driven credit scoring technology,” Moraa said.