Pezesha, a Kenyan-based fintech startup has raised Eleven Million US dollars ($11 Million) in a pre-Series A equity-debt round and likewise expanded into Rwanda, Nigeria and come Francophone countries on the continent.
The round was led by Women’s World Banking Capital Partners II and had the participation of the likes of cFund, Cardano blockchain builder Input Output Global (IOG) participated, and Verdant Frontiers Fintech Fund.
The funding has a Five million US dollars ($5 Million) debt inclusion raised from Talanton and Verdant Capital Specialist Funds.
Pezesha was founded by Hilda Moraa in 2017, it was established as an entrenched financial startup, which gives access to conventional and non-conventional financial institutions enabling them so that medium, small and micro-sized businesses will have access to working capital
Plans for Raised Funds.
Of all its numerous plans to move the startup forward, expansion remains a top deal. Pezesha intends to expand its service market, therefore launching in launching in other African countries like Uganda, Nigeria, Ghana and other nations. This step is presumed to bridge the vacuum in the financing of MSMEs on the continent.
According to Pezesha, it is currently in partnership with about twenty companies, which give it access to lend to about One hundred thousand businesses.
The startup also plans to raise its numbers before the year runs out as it has a combination of Ten companies with its individual system.
There are intentions by Pezesa to develop an opportunity for businesses worth One Hundred Million US dollars ($100 million) an opportunity made available every year via partnerships with both international and local banks, not excluding individuals with high net worth.
The fintech is also interested in expanding leading prospects for female entrepreneurs
Speaking on the investment made, Women’s World Banking Asset Management Chief Investment Officer, Christina “CJ” Juhasz stated, “The investment will allow Prezeha to deepen the range of financial products offering especially to women-owned MSMEs.”