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Uganda’s Opareta Raises Funding to Roll Out an Operating System for Mobile Money Operators

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 Opareta,a Ugandan startup is filling technological gaps for mobile money operators with a comprehensive digital operating system that allows efficient oversight of agent networks including tools for cash reconciliation, float approvals and disbursements and effective loan management.

Operator also provides performance analytics, field team management, KYC capture, and CRM services for enhanced efficiency and customer engagement.

“The reliance on outdated tools such as physical ledgers and USSD codes for transactions has long been a bottleneck in the sector,” states Mike Schwartz, co-founder of Opareta. “We address this challenge head-on with our digital operating system, designed to improve liquidity management, performance analytics and digital identity creation for agents. This shift promises not only improved operational efficiency but also a leap toward financial inclusivity.”

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By creating robust digital infrastructure and tools, Opareta aims to significantly enhance the operational efficiency of mobile money operators and other digital financial services providers in Africa where mobile money transactions play a crucial role in Africa’s financial landscape. According to GSMA, in 2022 four million active agents supported over $831B in mobile money transaction value across sub-Saharan Africa. Ugandan startup

“Opareta’s approach aligns with the needs of an evolving financial landscape where mobile money operators seek to drive efficiency and agents seek more than just transactional tools,” states Diana Njuguna, senior investment manager at Renew Capital. “They need systems that offer transparency, autonomy, provide insightful data and seek to support the evolution of mobile money agents into multifaceted service platform operators. This investment aims to alter the landscape of financial transactions and services across the region.  

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James Musoba
James Musoba
Studying Africa's startup and technology scene. I always look forward to discovering new exciting inventions and vibrant entrepreneurs.

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