Thursday, June 30, 2022
Thursday, June 30, 2022
Home Fintech Kenyas Jumuisha secures seed funding for product development and expansion.

Kenyas Jumuisha secures seed funding for product development and expansion.

by Milcah Lukhanyu
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Jumuisha, a Kenyan fintech startup has secured an undisclosed amount of seed funding for product development and team expansion.

The fund came from SprintX, a venture studio for early-stage startups based in the United States. Apart from the funding, Sprint will also provide the startup with business strategy, marketing, and technology expertise.

Jumuisha was launched in October 2020, with a bid to help churches and non-profit organisations receive donations through multiple payment channels for instance via USSD, bank transfer, mobile money, online payment or credit cards, and also make payments to contractors, suppliers and employees.

 The platform connects inward and outbound financial transactions, delivering a real-time snapshot and financial data. They also manage events church events and celebrations.

Co-founder James Chege, said “The seed funding will help us to accelerate product development through key hires and strengthen the sales team… We will hire additional resources to address demand and accelerate our growth”

“Based on initial success, we grew the platform further for the churches to receive donations from their members such as tithe and offerings.”

“Our product will continue to evolve in empowering more churches to leverage technology in serving their members and community at large,”

Jumuisha now has 138 churches, with over 250,000 members combined, using its solution, and has seen over 500,000 bookings and more than 100,000 financial transactions take place through its platform.

According to Chege, their solution helped church members to reserve seats and enabled the church administration to maintain a manifest of members who attended the services for the purpose of contact tracing during the pandemic.

With over 4,000 registered churches in Kenya, Jumuisha aims to grow the number of users for its fintech solution.

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