Finclusion Group - Afrikan Heroes

Egypt’s Cairo Angels Syndicate invests in Finclusion Group

June 6, 2022

Cairo Angels Syndicate Fund (CASF), a venture capital fund that invests in early-stage start-ups in the Middle East and Africa, recently announced an investment in African Finclusion Group. The money committed and the quantity of shares purchased were not made public. Finclusion Group will be able to expand its activity in its African markets thanks to the funds granted.

Finclusion Group co-founder and deputy managing director Timothy Nuy remarked

“Finclusion Group is pleased to welcome Cairo Angels Syndicate Fund as a shareholder. The group will continue to expand while establishing a solid collaboration for future global expansion,” Finclusion Group co-founder and deputy managing director Timothy Nuy remarked.

This is the Egyptian fund’s second investment in Africa outside of Egypt and its third investment in a fintech startup. This is further capital for Finclusion Group, which raised $20 million in January.

The neo-bank, which provides customers with salary, “buy now and pay later” payment solutions, and loan offers, will continue to expand in its primary operating countries in East and Southern Africa, most notably in Eswatini, Namibia, South Africa, Kenya, and Tanzania.

Timothy Nuy’s company, launched in 2019, will also expand its variety of banking goods and services for the benefit of its consumers.

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Africa-focused Fintech Startup Finclusion Raises $20m To Fuel Expansion

September 16, 2021

Finclusion Group, an African FinTech platform, has raised $20 million (R283) in an investment round led by Lendable, a prominent FinTech debt financing provider. Finclusion provides safe financial services by combining superior proprietary artificial intelligence (AI) algorithms with cutting-edge technology, all while retaining accurate automated credit determinations.

Finclusion will be able to expand its presence in East and South African markets as a result of this agreement, resulting in a long-term impact and increasing financial inclusion in hitherto underserved groups.

“The team that worked on making this raise happen has been incredibly focused and inherently aware of what funding like this means to our business, and more importantly — our customers. Partnering with a reputable institution like Lendable is evidence of sustained growth all while maintaining strong portfolio quality throughout the pandemic. We are one step closer to being at the forefront of financial service technology in Africa,” Tamuka Mpofu, Finclusion Group CFO said.

Why The Investor Invested

“We are very happy to be partnering with the team at Finclusion and are always excited by the prospect of partners whose core function serves to better the financial situation and means of their customers,” said Lendable CEO Chris Wehbe.
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. “We’re looking forward to seeing the Finclusion Group reach even more customers across Africa with our funding driving further financial wellness and inclusion — both of which are a core focus for Lendable.”

A Look At What The Startup Does

Founded in 2019 by Timothy Nuy, Finclusion drives financial inclusion in Sub-Saharan Africa using AI powered and data driven lending.

The debt raise, according to Finclusion CEO Timothy Nuy, is further proof of the team’s commitment and hard work in developing a range of products and solutions that place the company at the forefront of fintech on the continent.

“The opportunities to scale across our portfolio are now endless, and we’re proud to say that we’ve already secured a number of new key distribution partnerships that will scale our customer base rapidly.”

He claims that the company will continue to use its deep credit, risk, and technology expertise to help Africa achieve financial inclusion and prosperity.
Finclusion has a number of products that address Africa’s underserved markets by providing solutions that make financial services more accessible while also encouraging financial literacy and wellness.

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer