Pezesha, an Kenyan fintech that provides bridging financing to small and medium-sized businesses, raised $11 Million in a pre-Series-A debt equity funding round. Input Output Global, a Cardano blockchain developer, was also part of the round led by the Women’s World Banking Capital Partners II.
Pezesha helps businesses that struggle with capital
Pezesha, a Kenyan fintech company, recently announced that it had raised $11 Million from its pre-Series A debt equity funding round. Techcrunch reports that this series was managed by Women’s World Banking Capital Partners II, with Input Output Global (IOG), a Cardano-based blockchain builder. Cfund and Verdant Frontiers Fintech Fund were also participants.
According to the report Pezesha plans use the funds for expanding its embedded finance business to micro-, small and medium-sized enterprises (MSMEs), operating in countries such as Nigeria, Rwanda, and Francophone Africa.
Hilda Moraa, founder of Pezesha Fintech, commented on the plans for Pezesha to lend its infrastructure to more MSMEs after its successful round.
MSMEs have huge opportunities and can make a significant impact on solving their working capital problems. We are addressing the root problem, which is information imbalance issues. This will ensure responsible borrowing and quality. This is solved by Pezesha’s robust API-driven credit scoring tech.
Female business owners will receive help from Pezesha
Charles Hoskinson is the co-founder and Cardano of IOG. He explained how this investment is in line with his core mission to help African economies grow and create employment.
“Our vision centers on technology being used to make it easier for people around the world to lend and borrow to one another in a controlled way. Hoskinson stated that the Pezesha investment is an important milestone and that they are excited to be a part their growth story.
The report stated that Pezesha will not only provide funding for MSMEs but would also target female entrepreneurs who are currently unable to access formal financial support.