The Capital Markets Authority (CMA) has officially granted Intermediary Service Platform Provider (ISPP) licenses to two prominent fintech firms: Moneto Ventures Limited and Pesa Bridge Limited.
The newly approved ISPP framework is designed to bridge the gap between traditional fund managers and everyday retail investors by leveraging mobile-first technology. According to the CMA, these approvals align with its strategic commitment to fostering a well-regulated, inclusive, and dynamic capital markets ecosystem.
The two licensed firms offer distinct digital solutions tailored to the modern investor:
1. Moneto Ventures Limited (Chumz)
The firm operates Chumz, a popular mobile application that serves as a savings and investment platform. Chumz aggregates small-scale funds and seamlessly connects retail investors to various collective investment schemes. Notably, the fintech successfully exited the CMA Regulatory Sandbox in August 2022 after proving its platform’s viability under controlled conditions.
2. Pesa Bridge Limited
Pesa Bridge directly links retail investors with licensed fund managers and custodians. Its broader mandate is to digitize the access and distribution of Collective Investment Schemes not just across Kenya, but throughout the wider East African region.
By transitioning innovative platforms from experimental sandboxes to fully licensed market intermediaries, the CMA is signaling a strong appetite for digital-first financial solutions.
The integration of these platforms into the mainstream financial ecosystem is expected to lower the barrier to entry for first-time investors, increase market liquidity, and set a regulatory benchmark for fintech integration across East Africa.