The fintech startup Credable secured its US$2.5 million seed fund to expand to more stable emerging markets.
The startup is currently operating in Tanzania, Kenya, and Uganda after succeeding to attract 1.2 million users with banking products.
The funding round is led by Ventures Platform with participation from Launch Africa, MAGIC Fund, ACASIA Ventures, AAIC Investment, and Adaverse/Emurgo Africa.
The company’s main goal is to expand beyond the current market to more stable regulatory markets like Pakistan and Nigeria.
The fintech startup was founded in 2021 by Nadeem Juma, Jad Abbas, and Michael Tarimo.
The founders said in media reports that their unique proposition is to provide banking solutions to customers who are not able to get banking services due to some complicated requirements.
Credable is a digital Banking Platform, that delivers embedding financial services for businesses across emerging markets.
They basically partner with financial institutions and businesses to launch financial services including credit, savings, and payments products.
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