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Home Business Startup Kenyan Startup Finplus has Processed over $500m in Transactions
Startup - February 12, 2021

Kenyan Startup Finplus has Processed over $500m in Transactions

Kenyan fintech startup Finplus Group has disclosed that in less than four years of operations, its software has now processed over US$503 million transactions.

Founded in 2017 by Kageni Wilson and Bernard Banta, Finplus provides fully-managed software to help financial services providers operate efficiently and scale cost-effectively in any market. The recent launch of allows Danish consumers to compare loans online for personal, SMS, mobile, quick, car, and more than 20 categories of loans.

Founded in 2017 by Kageni Wilson and Bernard Banta, Finplus fully managed software enables financial services provides to work efficiently and scale cost-effectively. The launch of its recent software It allows Danish customers to compare personal, SMS, mobile, quick, car, and more than 20 loan categories for online loans.

Its Software-as-a-Service (SaaS) platform allows digital deposit, loan and insurance products to be easily developed, rapidly deployed and efficiently managed, and includes modular solutions that completely automate or significantly accelerate items such as onboarding, KYC validation, risk decision-making, bulk collections and disbursements, and SMS and email communications.

Finplus opened an office in Johannesburg in April last year to lead its expansion into the Southern African market, and the start-up has since acquired clients in South Africa and Swaziland. This expansion has helped it meet crucial milestones, with the Finplus software now handling transactions worth more than US$503 million. This includes loan disbursements of over US$430 million and committed deposits of over US$80 million.

The startup helped over 93,000 MSMEs and individuals access credit, processing over US$200 million in transaction value as a result. Despite going remote due to the COVID-19 pandemic it has doubled sales.

“Handling half-a-billion US dollars is an exciting milestone that validates the work we do here, but for us this is more than just a number. It represents millions of economic transactions powering hundreds of thousands of livelihoods. It represents personal goals met, emergencies handled and businesses growing. It represents a potentially life-altering impact in people’s lives. This is why we do it,” Wilson said.

“We thank our customers for trusting Finplus and appreciate the whole team for rallying around the cause and delivering the improbable in such unprecedented circumstances.”

Finplus also has an e-commerce product in the works which it plans to announce later this year.

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