Home Startups Kenya’s Finplus Surpasses $500 Million Transaction Value Despite COVID-19

Kenya’s Finplus Surpasses $500 Million Transaction Value Despite COVID-19

by Milcah Lukhanyu
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Finplus has announced its transactional value has passed $500 million in three years since launch, despite COVID-19 in 2020.
Founded in Nairobi, Kenya 2017 by Kageni Wilson and Bernard Banta, Finplus is a software-as-a-service platform serving financial services providers in East and Southern Africa.
According to Finplus CEO Kageni Wilson, ” We have now processed over Half-a-Billion USD in combined transaction value ($503M in 3.8 Years). This is more than just a number. It represents millions of economic transactions powering hundreds of thousands of livelihoods. It represents personal goals met, emergencies handled and businesses growing. This is why we do it.”

Finplus, using cloud-based and mobile-first technologies builds infrastructure for Financial Services Providers (FSPs) in East and Southern Africa to accelerate progress towards financial inclusion.

Apart from the $500 million milestone, Finplus doubled its revenue and turned cashflow positive and helped 93K+ MSMEs and individuals access credit when it was most needed. The firm also processed over $200M in transaction value ($165M in Loans & $38M in Deposits)and shipped a brand new eCommerce product for diversification.

“2020 was a year unlike any other in recent memory. The pandemic brought much of the world to a virtual standstill for months on end and in the process changed life as we know it. We were incredibly fortunate that the virus spared our team, our families and our friends. Our hearts go out to all those who were not so lucky,” added Kageni.

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