Kenya’s Popote Payments, a fintech startup has raised an undisclosed sum from Lagos-based fintech investment firm GreenHouse Capital.
According to Sam Wanjohi, the founder and CEO of Popote, “They give us access to the knowledge and skills that exist in their ecosystem. GreenHouse will also introduce PopotePay and our other solutions into the Nigerian market more quickly than we could achieve on our own, especially given their fintech domain expertise and relations with banks that we aim to work with for distribution.”
Founded in 2013, Popote Payments allows businesses to manage their day-to-day payments such as budgeting, payment initiation, record keeping, accounting, as well as allow businesses to link and payout to multiple bank accounts or various mobile money wallets.
Popote Payments platform also stores transactional history, their notes, attachments, authorization and general ledger records for management or accounting and auditing good for businesses engaging in day-to-day activities that involve petty cash, wages, payroll, among others.
Popote aims to empower businesses in Africa to improve their expense management or curb internal fraud with its proper records, authorization, and audits.
For operations, Popote Pay is good for petty cash, supplies, salaries, utilities and taxes. It also allows users to park surplus funds from their wallet into a fixed deposit saving account or allows one to borrow as an overdraft on their bank account.
The Nairobi-based firm allows users to access all their sources of funds in one place by linking one’s Bank or Mpesa. For payments, one can pay without daily limits in single or bulk to mobile nos, buy goods, paybills and bank accounts, with instant delivery, 24 hours a day
The platform allows accountants can create payment requisitions which managers or owners review & approve from anywhere, on their device. Users can also track expenditure against GL categories, branches, projects etc. View data in graphs or export to excel & accounting systems.