Kuunda Raises $7.5 Million Pre-Series A to Power Financial Inclusion Across Africa and MENA
Kuunda, a B2B lending-as-a-service startup, has raised $7.5 million in a pre-Series A round led by Portugal Gateway Fund to expand..
✨ Key Highlights
Kuunda, a B2B fintech startup, has successfully closed a $7.5 million pre-Series A funding round to significantly expand its financial inclusion initiatives across Africa and the MENA region.
- The funding round was led by Portugal Gateway Fund, with participation from Seedstars Africa Ventures, 4Di Capital, Accion Ventures, Nedbank, and E4E Africa.
- Since 2024, Kuunda has expanded operations from Tanzania and Pakistan into Uganda, Malawi, Kenya, and Mozambique.
- The company's "Lending-as-a-Service" technology has enabled banks to disburse over US$100 million in credit to more than 2 million customers monthly, totaling over $3 billion in loans facilitated to date.
- Andrew Milne, co-founder and co-CEO at Kuunda, emphasized that the funding will enable team to extend their reach into new markets.
- Kuunda leverages billions of transactional data points to provide behaviorally driven credit scoring, enabling financial institutions to lend sustainably and profitably.
Continue Reading
Read the complete article from Tech Arena
Part of the Day's Coverage
Fintechs Raise Over $7.9M and Form Partnerships for African Financial Services - October 2025
Kuunda, a B2B fintech startup, has successfully closed a $7.5 million pre-Series A funding round to expand its financial inclusion initiatives across Africa and the MENA region. In a separate funding announcement, fintech startup Jahazii closed a $400,000 pre-seed funding round, comprising equity, debt, and grant financing. This investment will enable Jahazii to develop Africa's workforce operating system, integrating HR, payroll, and embedded financial services. The company's goal is to promote financial inclusion across the continent. Additionally, Triply has partnered with Verto to offer seamless cross-border payment solutions for Africa’s travel sector. This partnership aims to streamline financial operations for the sector's small and medium-sized enterprises (SMEs).
