Fintech & Ecommerce #startup

Leading Fintech Companies in Kenya 2024

Kenya’s standing as a preeminent hub for financial technology in the African continent is unquestionable and well-established. According to the comprehensive African Tech Startups Funding Report 2023, released by Disrupt Africa, Kenya proudly hosts approximately 15% of all fintech firms operating in Africa.

Leading Fintech Companies in Kenya 2024

In the past two years alone, these firms have managed to secure an impressive amount of around $174 million in financial support, reflecting the substantial growth and potential in this sector. This remarkable level of investment underscores the expansion, dynamism, and potential of the market, which is predominantly concentrated on fintech startups specializing in various aspects such as payments and remittances, digital lending, and business administration. These areas represent key segments of the fintech landscape and are currently driving the rapid growth in the industry.

In Kenya, the rapid growth of the fintech industry is influenced by a multitude of factors. Foremost among these is the widespread adoption and use of mobile money services such as M-Pesa. M-Pesa has revolutionized the way Kenyans transact, enabling quick and easy money transfers, payments, and other financial transactions, all from the convenience of a mobile device. This widespread use of mobile money services has, in turn, spurred the development and expansion of the fintech industry in the country. Additionally, the growing demand for financial services among the unbanked population further drives this growth. Many Kenyans lack access to traditional banking services, creating a substantial need for alternative, accessible financial services. This growing need among those without bank accounts has created an opportunity for fintech companies to step in and fill this gap, thereby contributing significantly to the industry’s growth in Kenya.


Umba is a comprehensive digital banking platform that caters to individuals who value ease and accessibility in managing their financial needs. It offers a broad spectrum of banking services, providing users with the ability to open and manage their savings accounts with just a few clicks. Not only that, but it also makes transferring money to others a breeze, and allows users to withdraw cash whenever they need to, giving them the flexibility and control they desire over their finances.

More than just a basic banking platform, Umba extends its services to include features like the ability to apply for consumer loans in Kenya, offering users the financial support they need when they need it the most. But the benefits don’t stop there. Understanding the importance of convenience in financial management, Umba also incorporates utility bill payments into its service offering. This feature allows users to keep track of and manage their monthly expenses, all in one place.

Kopo Kopo

Kopo Kopo is an innovative platform specifically designed to empower small and medium-sized businesses by allowing them to accept mobile payments and build meaningful relationships with their customers. This platform provides a unique feature of offering an unsecured cash advance of up to Kshs 5M to merchants. This cash advance can be easily accessed through their user-friendly mobile payment application. In exchange for this service, Kopo Kopo collects a daily percentage of the sales made by the merchant. Alongside this, a flat service fee is also applied. This structure allows the platform to maintain sustainability while providing valuable services to businesses.

One of Kopo Kopo’s significant achievements is its strategic partnership with Safaricom, a leading communication company in Kenya. This partnership has enabled the platform to bring the practical and popular M-PESA Buy Goods service to small and medium businesses across Kenya. This collaboration has made it possible for these businesses to thrive in the digital space and reach a wider customer base.


NALA is an advanced, user-friendly online platform that facilitates cross-border remittances for individuals. With a focus on accessibility and convenience, it enables users to effortlessly send and receive money on a global scale through secure banking channels. To facilitate the transfer of funds, users are required to link their debit and credit cards to the platform, ensuring a seamless money transfer experience.

The platform is designed with a multitude of features to cater to the diverse needs of its users. Among these, it offers multilingual customer support, catering to a broad audience and ensuring that users can navigate the platform and resolve any issues irrespective of their language. Moreover, it provides the convenience of scheduling recurring transfers, thereby simplifying the process for users who need to make regular payments or send money frequently. The NALA application is available on both Android and iOS platforms. This means that users can access the service anytime, anywhere from their smartphones, making cross-border money transfers more convenient than ever.


Branch is an innovative and forward-thinking digital lending platform that has been designed to utilize alternative data sources, thus providing immediate credit facilities to individuals and small businesses within the bustling economic landscape of Kenya. This unique, cutting-edge approach permits them to tap into a potential customer base that might, under more traditional circumstances, be overlooked or bypassed by conventional financial institutions, such as banks or credit unions. Their user-friendly and intuitive mobile application not only offers users a seamless, efficient, and stress-free borrowing experience, but it also extends beyond this primary function to provide valuable and insightful knowledge about financial management and economic well-being.

By placing an emphasis on financial literacy and education, Branch has a clear and focused aim: to empower its vast customer base to make informed, well-rounded decisions and thus improve their overall financial health. This focus, when combined with their disruptive and transformative lending model, has positioned Branch at the forefront of Kenyan lending industry, revolutionizing the way in which loans are accessed, managed, and viewed in the modern world.


Turaco, a pioneering company in the micro-health insurance sector in Kenya, is dedicated to offering affordable insurance policies to individuals who are frequently left out from conventional insurance systems due to their limited financial resources. Their innovative microinsurance products are specifically designed to be financially accessible to a wider demographic, thereby fostering inclusivity in the insurance sector.

Beyond providing insurance, Turaco also prides itself on its efficient claims processing system, ensuring that customers receive prompt and efficient support when they need it most. This commitment to rapid and reliable service underlines their dedication to customer satisfaction and trust. A significant aspect of Turaco’s mission is its focus on low-income earners who are most vulnerable to unexpected health expenses. By providing a safety net for these individuals, Turaco helps shield them from potential financial instability, contributing to broader efforts to alleviate poverty and promote economic resilience among Kenya’s low-income population.

Apollo Agriculture

Apollo Agriculture is a technologically advanced online marketplace designed with the purpose of facilitating farm loans. By leveraging the power of technology, it provides an easily accessible platform for farmers to not only gain access to credit, but also to farm inputs through comprehensive crop health assessment. The platform employs an innovative mix of technologies, such as satellite data, to monitor and assess the growth of crops in real-time. It also uses agronomic machine learning algorithms to predict crop yield and farm productivity, providing a scientific basis for credit assessment. Moreover, the incorporation of remote sensing technology allows for the collection of crucial agricultural data from afar, further enhancing the credit evaluation process.

In addition, the platform is powered by mobile technology, making it possible for farmers to access these services from anywhere, at any time. Beyond providing credit, the platform is geared towards educating farmers. It offers customized advice tailored to each farmer’s unique circumstances, providing insights and guidance regarding the operation of their farms. This not only helps farmers to make informed decisions but also contributes to their overall success in the farming business.


Cellulant, one of the leading forces in Kenya’s payment processing solutions sector, primarily serves businesses and merchants within the country’s dynamic economic landscape. With a wide range of solutions, including payment gateways, payment links, agent-based payments, and banking services, Cellulant aims to simplify transactions and improve the customer experience.

Beyond focusing on merchant needs, Cellulant also pioneers innovative digital banking solutions, remittances, and more. This diverse offering makes Cellulant a comprehensive solution for various financial requirements. Cellulant’s dedication to innovation also benefits consumers, offering convenient payment solutions for everyday necessities like mobile top-ups, utility bill payments, and other crucial transactions. These consumer-centered services aim to make daily financial tasks simple and stress-free. By offering a multitude of solutions, Cellulant is reshaping how businesses and consumers handle their financial transactions in Kenya. They’re dedicated to delivering services that bring about significant change in the lives of businesses and consumers.


LipaLater, a ground-breaking consumer finance platform based in Kenya, has taken significant strides in transforming the way consumers access goods and services on credit. Its modus operandi involves forming strategic partnerships with a wide-ranging assortment of merchants from various sectors. This innovative approach not only significantly expands the selection of products available to the everyday consumer, but it also introduces an unprecedented degree of flexibility into the entire purchasing process.

By presenting a diverse range of accommodating payment options, LipaLater goes above and beyond to ensure that essential purchases, which may have otherwise been financially burdensome, become more budget-friendly and financially attainable for the average individual. This thoughtful service effectively bridges the gap between the immediate needs of consumers and their financial capabilities, thereby allowing them to make necessary purchases without the stress of immediate payment.


Asilimia, an innovative and ground-breaking digital platform, is dramatically changing the landscape of how small businesses in Kenya manage their financial transactions and operations. This unique platform offers a comprehensive suite of features designed to assist business owners in efficiently handling a wide range of financial tasks. These tasks encompass the processing of payments, the generation and tracking of invoices, and the meticulous keeping of inventory records.

In a world where these tasks were previously carried out manually, often leading to inefficiencies and inaccuracies, Asilimia has introduced a digital solution that provides a level of convenience and efficiency that was previously beyond reach. The benefits of this digitization extend beyond just convenience, it also greatly reduces the likelihood of errors that can easily occur with traditional manual record-keeping. By offering these capabilities, Asilimia is not just providing a service, it is empowering Kenyan entrepreneurs. It equips them with the tools they need to streamline their operations, thereby allowing them to focus more on the critical areas of their businesses that directly contribute to growth and success.


Lendable is a highly innovative and technologically advanced digital lending platform that has been specifically designed to offer vital capital resources to a broad range of financial institutions across Kenya. By providing this essential capital, these financial institutions are able to significantly expand their lending activities, greatly extending their reach, and thereby serving a larger customer base. This expansion in lending activities not only boosts their operational capabilities but also fosters economic growth by providing necessary financing to businesses and individuals.

Through its provision of flexible and tailored financing solutions, Lendable is not just addressing the long-standing issue of financial accessibility but is also actively promoting a culture of financial inclusion. Such an initiative is crucial in a country like Kenya, where access to financial services is often limited. By promoting financial inclusion, Lendable is instrumental in creating a more inclusive and robust financial society where the benefits of economic growth are shared more equitably.

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