Kenyan fintech startup FinAccess raises $500 thousand in funding

Oluwajuwonlo Afolabi -

FinAccess, a financial technology startup offering software-as-a-service (SaaS) solutions has raised $500 thousand in its pre-Series A funding round led by HAVAIC, a venture capital firm based in Cape Town.

  • The fund will be used to improve the startup's market leadership in Kenya and expand into new geographies.
  • Founded in 2017, FinAccess provides full-stack SaaS solutions to savings and credit organizations (SACCOs) and farming cooperatives.
  • The startup offers Fincore, a product for digitizing and automating the entire financial back office and product functions for SACCOs and Grobox, an operational management software solution for co-operatives. Grobox tracks and records inventory, production, sales, payments, and finance data.
  • It will launch a live pilot of its operations in Zambia, Rwanda, and Tanzania in the coming months.