Pyypl rolls out micro-investment platform to African entrepreneurs

By Delisha Fernandes

Pyypl, payment technology and financial services provider has announced the commercial rollout of its social, micro-investment platform for self-employed entrepreneurs and micro-SMEs in Africa.

The rollout is commencing via an initial partnership with Kenya’s Tuk Tuk Operators Network, a pan-African mobility network connecting Tuk Tuk operators across 47 counties. The companys platform will accelerate the digitalisation of these operators via Pyypl’s virtual debit cards, which will directly, and positively impact TTON’s growth.

The partnership will support TTON long-term vision of connecting three-wheeler players in Africa’s informal transport industry to a common socio-economic, sustainable, and inclusive mobility platform under structured transport savings and credit co-operative societies.

Antti Arponen, CEO of Pyypl, said: “We are proud to partner with the Tuk Tuk Operators Network to provide short-term, fair and transparent investment alongside Pyypl’s leading digital financial services to the benefit of its members across Africa. “Community groups form the core of Kenyan society, representing taxi drivers, delivery riders, farmers, youth development groups, and Tuk Tuk and Boda Boda riders, among others. With over 126,000 TTON members representing more than 1.6 million Boda Boda operators across Kenya, this demonstrates the huge opportunity for Pyypl’s debentures platform as we build out partnerships across multiple African countries.”

Vincent M Were, Network Lead for TTON, said: “In the process of seeking meaningful partnerships to grow the sector, the Tuk Tuk and Boda Bodas of Kenya appreciate the engagement of Pyypl and their services. Access to debentures via our connection with Pyypl has opened a new window of opportunity for our transport ecosystem, meeting our most critical financial needs while in line of service.”

Pyypl’s strong capital base is turbocharging regional growth as the company executes its mission to offer financial services to the 800 million financially underserved smartphone users across Africa and the Middle East.