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Uganda’s SaaS Platform for Saccos Ensibuuko raises $500,000 to Reach More Saccos

Milcah Lukhanyu by Milcah Lukhanyu
4 years ago
in Business, Startups, Tech
5 min read
0
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Ensibuuko, a Software-as-a-Service (SaaS) provider, which runs a SACCO Software built with Advanced data processing and reporting functionalities with an easy-to-use Interface allowing members to deposit, withdraw, transfer money through mobile money their balance and mini-statement and receive notifications on SMS has raised $500,000 from a Canadian Angel investor Ed Levinson for growth.

Ensibuuko was founded by Opio David and Otim  Gerald as CEO and COO respectively. Opiyo told Moris Atwine,

a Kampala-based developer and blogger that: “We celebrate the signing of our first $500k of investment. Starting a new year with great opportunities. Thank you everyone who has helped us to reach this far.”

Ensibuuko’s core-banking software enables rural-based financial institutions to manage information and reporting; while efficiently delivering financial services on a mobile wallet offers SACCOS the means to grow and scale rapidly and to reach underserved communities; and to build operational efficiency, cut costs and improve their reach.

The funds will help startup to reach more users across the country.

“We are creating the ecosystem for financial inclusion,” the founders says on their website. “Our philosophy is that technology should be a platform that nurtures both our customers as well as a vibrant 3rd Party marketplace of solution providers. When we set out, our goal was to change the way finance is handled in SACCOs & even with the software that we provide, we have invested in building these changes into the workflows of our clients.”

READ  Implementation of Nigeria's broadband policy would reduce reliance on natural resources - MainOne

14907139_908250169310474_8750326321056512238_nThe startup’s financial literacy program has reached over 68 SACCOs with over 430,000 customers.

“We are the solution to the challenges facing microfinance institutions around the globe. Our solution is designed specifically for financial inclusion by experienced practitioners,” Ensibuuko founders conclude.

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Tags: CanadaSaccosSTARTUPstartupsUganda
Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

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