Kenyan Fintech Zanifu Secures Investment from Yango Ventures
Kenyan lending startup Zanifu has received a funding boost from Yango Ventures, marking a significant development for small and medium-sized enterprises (SMEs) in Kenya and across the African continent. This injection of capital will fuel Zanifu’s expansion, enabling them to extend their reach and provide crucial financial support to a greater number of small shops and businesses that require swift access to capital.
Addressing Financial Gaps for Kenyan SMEs
Founded in 2017 by Steve Biko and Sebastian Mithika, Zanifu emerged to address a critical gap in the Kenyan financial landscape. The founders recognized that many small businesses, particularly those operating within the fast-moving consumer goods (FMCG) supply chain and dealing in everyday essentials, faced considerable difficulty in obtaining loans from traditional banks. Zanifu’s solution was to offer short-term loans tailored to the specific needs of these SMEs. Since its inception, Zanifu has disbursed over US$60 million in loans, impacting more than 15,000 small businesses. This impressive track record underscores the significant unmet demand for accessible financing within the Kenyan SME sector and highlights Zanifu’s impactful role in supporting economic growth.
The investment from Yango Ventures signals confidence in Zanifu’s business model and its ability to continue serving a vital role in the Kenyan economy.
Keywords
Related Keywords: Zanifu, Kenyan lending startup, Yango Ventures, funding, investment, fintech Kenya, SME lending, small business loans, venture capital, East Africa
