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5 Digital lending platforms to get instant loans from in Kenya

By Delisha Fernandes

June 14, 2023

  • African banks
  • Asante Financial Services Group
  • B2B Loans
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lendingKenya has been at the forefront of offering digital lending services for more than a decade. The increasing number of lending platforms has enabled unbanked populations access to financial services and enhanced financial inclusion.

Lending FinTech companies provide individuals and small and medium-sized businesses (SMEs) with advanced lending options. According to Statista, as of 2021, Kenyan banks have extended loans worth approximately 3.3 trillion Kenyan Shillings (KSh), equivalent to around $27.8 trillion.

Additionally, emerging digital lending platforms have demonstrated their ability to grow their customer base by addressing specific needs and overcoming the challenges faced by micro, small, and medium enterprises (MSMEs) when seeking traditional credit options.

Here are 5 digital lending platforms to get instant loans from in Kenya:

Asante Financial Services Group

Asante Financial Services Group is a digital financial services firm dedicated to advancing financial independence and enhancing the well-being of underserved small businesses and individuals in Africa. The platform uses modern technology, strategic alliances, and the best talent to create financial solutions that serve customers’ everyday needs. The company has two main business lines: Ecosystem-Based Lending and a NeoBank.

Letshego Kenya

Letshego Kenya Limited, a financial lender, provides credit services to small and micro-entrepreneurs, salaried employees, and civil servants in Kenya. It began operations in 2000, providing credit services to small and micro-entrepreneurs, salaried employees, and civil servants and currently serves over 25,000 customers.

MyCredit Limited

MyCredit Limited is a non-bank financial services institution. The institution offers a variety of financial products, including loans, guarantees, leasing, and insurance. Their loan products include business loans, salary loans, and bid bonds. Their guarantee products include performance bonds and advanced payment guarantees.

Ngao Credit

Ngao Credit Limited is a non-deposit-taking microfinance institution founded to offer financial services to the underserved. It provides innovative and customised financial solutions that meet the customers’ needs in the shortest time possible and unlock possibilities for SMEs and business owners. The institution aims to partner, strengthen, and enhance the lives of SMEs and individuals to enable them to achieve their life goals.

Pezesha

Pezesha was founded in 2016 and is headquartered in Kenya. The company has built a holistic digital financial infrastructure that is on a mission to 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 the platform to be matched with quality SMEs driving meaningful financial inclusion and reducing any inequalities on access to formal financial services.

Also read: Global Lending Vendors & Landscape Report Q1 2024

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