In this article, you will find a list of the top 10 FinTech companies in Kenya.
The financial technology (FinTech) market is one of the most underrated industries in Kenya. However, FinTech is one of the most creative industries. It is behind the development of financial development not only in Kenya but globally.
Kenya has over 30 FinTech companies aiding Kenyans’ financial needs through money, cryptocurrency, e-wallet, shares, and others. Below is a list of the top 10 FinTech companies in Kenya.
List of FinTech Companies in Kenya
1. 3G Direct Pay Group
3G Direct Pay Group focus on offering e-commerce solution to their clients. Their main product is merchant services. The company operates not only in Kenya but also in Tanzania, Uganda. Zambia, Mozambique, Namibia, South Africa, Zanzibar, Malawi, and Ethiopia. 3G Direct Pay Group accepts e-wallets, credit cards, and mobile money.
Abacus is a mobile software and web building developer. The company helps its clients to access African financial markets. The company is open to all local and international investors. Investors can access the company anywhere, anytime.
Abacus company allows its clients to access stock, bonds, unit trusts, and mutual funds online. Kenyans can save and gain interest through Abacus without any bank account required.
BambaPos is a FinTech company that offers inventory management solutions to its clients. The company is known for its cost-effectiveness and easy-to-implement solutions. BambaPos focuses on helping its clients solve merchant automation challenges.
4. Branch International
The Branch is one of the leading companies that allows Kenyans to access credit via a smartphone. Customers are expected to fill in an online application to qualify for a loan credited directly to their mobile money account.
Branch International also offers personalized customer services that are responsive and meets the needs of their customers. One of the reasons why Branch International is at the top of FinTech companies is their customers’ ease to access loans without their credit or savings history being dug up. Users can also acquire a loan without necessarily having a bank account.
BitPesa is a pan-African FinTech platform that allows its customers to make payments to and from sub-Saharan Africa. BitPesa is expanding its operations to allow transactions between Africa and the rest of the world. The company focuses on using top-notch blockchain technology to improve efficiency.
BitPesa has come to the aid of Kenyans who are dealing with cryptocurrency. The cryptocurrency was not a well-received topic in Kenya when it started, but thanks to BitPesa, it has shed more light on how to trade with it. The company’s provision of cryptocurrency liquidity is one of its main selling points across Africa.
Chura platform allows their clients to buy airtime across all networks. Their mass airtime enables corporations to supply airtime to their employees by just pressing a button.
Chura uses money services such as PayPal to Mpesa and Mpesa to PayPal. These services are instant hence being convenient for the users. The company is diversifying its operations to create Chura Remit, allowing credit or debit cardholders to make transactions via Mpesa. Chura Virtual Card is also a work in progress. It will be a debit card in the form of a mobile application that users can top up with Mpesa.
ConnectAfrica is a B2B FinTech company that connects several payment platforms. ConnectAfrica’s customers are able to facilitate transfers across multiple networks. The company’s target market includes banks, wallet providers, payment services providers, and others in a similar category.
8. Eclectics International
Eclectics International offers personalized software for banks and other financial institutions to meet their customers’ needs. The company carries out system audits and evaluations to give quality recommendations to increase effectiveness and placement.
Eclectics International operates in other countries such as Botswana, Ethiopia, Cameroon, Zambia, Gambia, Malawi, Tanzania, Uganda, and Ghana.
9. iNuka Pap
iNuka Pap is a value-added service (VAS) scheme to SACCO members that allows their customers to access small amounts of credit. The platform also offers services like airtime, insurance, and prepaid electricity. iNuka Pap’s customers can access this credit from anywhere and anytime.
10. Jambo Pay
Jambo pay is an online payment platform that allows its customers to receive and make payments via mobile phone through the internet. Users can pay for products and services, and the sellers can easily receive such payments through the same platform. The platform is convenient for people using M-Pesa, YU-CASH, Airtel Money, Visa, and MasterCard credit and debit cards.
FinTech companies have been playing their role in the background for too long. The development in Kenya’s financial systems has shed some light on these companies, and people have started noticing all the benefits FinTech companies have. Follow Bizna Kenya to know more about FinTech companies and the financial development