ImaliPay raises $3m seed funding
ImaliPay, a pan-African fintech start-up that is a pioneer in empowering the gig economy through its one-stop-shop financial services platform, has closed a $3 million seed funding round.
ImaliPay’s seed round includes participation from Leonnis Investments, Ten 13, Uncovered Fund, Plug N Play Ventures and Latam Ventures, to name a few.
Launched in late 2020 in Nigeria, ImaliPay was birthed when Tatenda Furusa (co-founder) observed the challenges e-ride hailing drivers experienced around access to working capital or savings for emergencies, initially in Nairobi. Upon investigation, it unearthed a wider problem of gig workers being underbanked and neglected by their existing traditional financial institutions.
Stew Glynn, co-founder and managing partner at Ten13 says, “Fuelling disruptive start-ups and building ecosystems is the heartbeat of our investment model at Ten13. We’re excited to follow on and be part of ImaliPay’s journey as they re-shape the future of financial services for the African gig economy.”
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