BitPesa partners Bitbond to help SMEs in Africa access & repay loans in seconds

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Berlin-based Bitbond, a bitcoin payment processor that connects fixed-income investors with small business owners who need loans has partnered up with BitPesa, to allow borrowers who receive funding on Bitbond can now have their loan paid out directly to a mobile money or bank account in their local currency within minutes.

“10% of our global user base comes from Sub-Saharan Africa. We are excited to work with BitPesa in this region because there is a huge unmet demand for small business financing. Together with BitPesa, we can significantly improve our service,” said Founder & CEO of Bitbond Radoslav Albrecht.

This integration is now live in Kenya, Nigeria, Uganda and Tanzania therefore small business owners from these countries can receive loan funding from investors from all over the world via Bitbond and have the funds paid out to to their mobile money account or bank in 20 minutes.

According to BitPesa founder & CEO Elizabeth Rossiello: “We are always excited to partner with companies that make doing business in Africa easier and more efficient. Our customers are businesses looking to grow across the continent and beyond. Better access to efficient financing is a tremendous way to boost their growth.”

At the moment, BitPesa offers payments to, from, and within Nigeria, Kenya, Uganda, Tanzania, and the Democratic Republic of Congo and remittance between Africa and China.

The deal with Bitbond will help many SMEs apply for small business loans on Bitbond by registering for a free account on BitPesa.

BitPesa says going forward it will continue to open up major payment corridors to better serve the growing number of people doing business in Africa.