Finplus Group has announced that it has processed over $1 Billion (Ksh. 120 Billion) in transaction value and been used by more than 3 Million users over the last 5 years.
The value is comprised of $750 Million (Ksh. 90 Billion) in loan disbursements and over $250M (Ksh. 30 Billion) in allocated deposits.
Finplus is a Kenyan B2B software company that provides digital credit and commerce software to financial institutions as well as large consumer goods companies across East and South Africa.
CEO & Co-Founder Wilson Kageni had this to say: “Today, our software helps an individual or small business access credit or transact with financial institutions and suppliers every 10 seconds. We have come a long way since processing our first transaction in April 2017 and it’s all thanks to our customers trusting us to manage their relationship with millions of end customers and over a billion dollars of value. It’s an enormous responsibility and one that gives us pride as an African company building in Africa for Africans.”
Additionally, the company reported that 2022 will be its third consecutive year of profitability.
Finplus Group is a technology company building a new credit & commerce infrastructure for emerging markets. It was founded by Peter Gichuru, Wilson Kageni, and Bernard Banta in 2017. Finplus software has already processed over $1Bn+ in transaction value across 5 emerging markets (Kenya, Uganda, Tanzania, Eswatini, South Africa). It has enabled more than 3 Million SMEs & individuals to access credit and saved business customers over 1.2 million man-hours through automation.
The company was selected in 2021 for the first ever Google Black Founders Fund in Africa.