Yango Ventures Backs Kenya’s SME Lending Fintech Zanifu: A Boost for African Enterprise
Kenya’s burgeoning fintech landscape continues to attract significant investor interest, with Zanifu, a prominent player in the small and medium enterprise (SME) lending sector, recently securing a strategic investment from Yango Ventures. This funding is poised to fuel Zanifu’s ambitious expansion plans across the African continent, underscoring the growing confidence in fintech solutions designed to address critical working-capital needs for businesses in emerging markets. The Nairobi-based firm specializes in providing essential credit to SMEs, enabling them to grow and thrive in a challenging economic environment.
Empowering African Enterprises and Driving Sustainable Growth
Zanifu’s investment from Yango Ventures marks a significant milestone, positioning it as only the second Kenyan company, after the travel booking platform BuuPass which received funding in May, to benefit from the venture arm of the Yango Group. This pattern of investment highlights Yango Ventures’ commitment to fostering innovation and supporting promising tech startups within the African tech ecosystem. Daniil Shuleyko, CEO of Yango Group, articulated the venture’s broader vision, stating, “Through Yango Ventures, we’re sharing our expertise and network to help startups scale, thrive, and drive meaningful change in their communities. Our mission is simple: let people grow with us. By supporting local talent with the right tools and resources, we aim to foster sustainable business growth and contribute to resilient, inclusive economies across the globe.” Zanifu’s impressive track record speaks volumes: it has successfully deployed over $60 million in credit to more than 15,000 businesses and has achieved breakeven for two consecutive months, demonstrating a robust business model and strong market traction in the vital SME lending space.
This strategic investment from Yango Ventures is a testament to Zanifu’s impactful work in bridging the financial gap for SMEs in Kenya and its potential to replicate this success across Africa. As Zanifu prepares for continental expansion, this backing will be instrumental in scaling its operations and extending its reach, ultimately contributing to economic empowerment and resilient growth within the African business landscape. Such collaborations are vital for nurturing local talent and building inclusive economies, showcasing the transformative power of fintech in addressing pressing financial needs.
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