back Back

4 innovative digital lending companies in Kenya

By Edlyn Cardoza

November 07, 2022

  • Asante Financial Services Group
  • Credit Management
  • Credit-Led Neo Bank

Asante Financial Services Group, Digital Lending, MSMEs, Credit Management, FinTech, Credit-Led Neo Bank, Financial Services, SME Digital Bank, Lipa Later, Pezesha, Financial Services, SMBs, Working Capital, Financial Institutions, UbaPesa, Peer-to-Peer Lending, KenyaThe financial sector has drastically advanced, fulfilling its customers’ needs by providing services online. The lending sector has seen a global rise. According to KBV Research, “The South Africa Digital Lending Platform Market would witness market growth of 24.7% CAGR during the forecast period (2019-2025).”

In Africa, lending FinTech companies are constantly on the rise; Nigeria and Kenya are some examples of lending FinTech as their primary FinTech sector. Given the financial gap for MSMEs in Africa, lending FinTech paves the way to reduce the current credit gap in Africa and help the region’s economy recover.

Lending FinTech companies have helped SMEs and individuals with advanced lending services. The new-age digital lending players have showcased an ability to expand their customer base by capitalising on the needs and solving the challenges MSMEs face in accessing formal credit.

Here are 4 innovative digital lending companies in Kenya:

  • Asante Financial Services Group

Asante Financial Services Group is a Credit-Led Neo Bank that supports Africa’s growth by providing financial services to growing businesses. Asante commenced operations in early 2018 and has grown to become one of the leading SME Digital Banks in the region. They have partnered with the largest telcos, mobile-based marketplaces, airlines, retailers, payment processors, insurance companies, smartphone phone OEMs and large FMCGs, as corporate channel partners to access the MSMEs in their ecosystems. They are present in  Kenya, Uganda, Nigeria, and Rwanda, with active plans to expand to 7 more countries by 2025.

  • Lipa Later

Lipa Later is a risk-free, point-of-sale credit option that allows retailers to sell goods and services to consumers with repayments made in affordable monthly instalments. It is one of the leading third-party instalment plans for retailers in East Africa currently operating in Kenya and Rwanda. Their product offering allows for online and offline integration with retailers and online and offline sales platforms for consumers.

  • Pezesha

Pezesha means (Capital enabler). Pezesha has created a holistic digital financial infrastructure that is on a mission to be a leading enabler platform and marketplace that connects small and medium-sized businesses to working capital through a collaborative approach where banks, MFIs and other financial institutions or networks can connect on their platform to be matched with quality SMEs driving meaningful financial inclusion and reducing any inequalities on access to formal financial services.

  • UbaPesa

UbaPesa is the best peer-to-peer lending app in Kenya, which allows you to lend and borrow money in real time! With its app, you can get money market information, where you can view available loans and money to borrow. You can view their UBP Scoring and CRB Score rating from the app allowing you to get a better view of their clients. You can manually request to lend or borrow a specific amount of money, and with Realtime Withdrawal, money moves to your mobile money account in real time!

ALSO READ: Global Lending Vendors & Landscape Report Q3 2022

Previous Article

November 07, 2022

Dufrain appoints Mark Fowle as Chairman

Read More
Next Article

November 07, 2022

Nordea adopts AI chatbot strategy to scale customer service

Read More

IBSi Daily News Analysis


February 23, 2024

Asante Financial Services Group

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 22, 2024

Vidyut raises $10m in Series A Funding round led by 3one4 Capital

Read More

February 21, 2024

Autonom8 & Berar Finance to automate Intelligent Loan Origination

Read More

February 21, 2024

Commerce Bank goes live with Temenos loan origination solution

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023