African fintech Kuunda has completed a $5 million secondary share sale led by E4E Africa, giving existing shareholders a liquidity opportunity as the company prepares to expand into seven additional markets.
The transaction also involved Accion Ventures, Portugal Gateway Fund and Seedstars Africa Ventures, which increased their stakes in the digital lending infrastructure provider.
Kuunda builds lending technology that enables financial institutions, mobile money operators and payment platforms to extend credit to merchants, mobile money agents and consumers.
Jane Doe Real Estate Group
Looking to advertise your business? Work with our ad team.
Reach Out Now →The company said its infrastructure has facilitated more than 870 million loans, delivering over $4.4 billion in credit to 14.6 million agents, merchants and consumers across Africa.
Kuunda currently operates in five markets and plans to enter seven more, extending its reach across the continent’s digital financial services sector.
For black founders and investors, the deal shows the secondary share sales as a route for early backers to realize returns while companies remain privately held.
