Pezesha, a digital lending infrastructure and platform that helps finance medium, small, and micro enterprises startups (MSMEs) in Kenya, has been licensed to operate in Uganda.
This comes few months after raising $11 million in Series A to expand in Africa from the likes of Cardano.
“We are excited to announce that Pezesha is now fully licensed to operate in Uganda and impact more MSMEs with affordable financial services and forge deeper embedded finance partnerships in Uganda. We received our Mobile Lending License.” Pezesha said on its Linkedin page.
Pezesha also received a Digital Lending License from the Uganda Microfinance Regulatory Authority (UMRA).
In August 2022, the company listed the following countries it wanted to be operating in following the new funding:
- Kenya
- Francophone Africa
- Ghana
- Nigeria
- Rwanda
- Uganda
Founded in 2017, Pezesha has built a scalable digital lending platform that offers working capital to MSMEs in both traditional and non-traditional finance institutions.
Pezesha has built a credit scoring API that has also been integrated into more than 20 partner companies, with 10 more getting integrated with its infrastructure. Some of its partners include Twiga Foods and MarketForce, leading startups in Kenya, enabling customers to get real-time loan offers via the Pezesha API.
Through its partnership with Cardano, the company can access affordable capital by layering DeFi liquidity channels on top of the scalable digital lending infrastructure.
The company hopes to raise $100 million by tapping local and international banking institutions, high net worth individuals, and decentralized finance (DeFi) in order to offer financing opportunities to businesses.
Pezesha’s partnership with Cardano is expected to see the company build a peer-to-peer financial operating system in Africa.
In 2020, Pezesha became the first project to successfully exit Kenya’s Capital Markets Authority (CMA) sandbox with a letter of no objection to operate in Kenya.
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