Portugal Gateway Fund, 4Di Capital, Accion, others back B2B digital lending startup
Kuunda has completed its pre-Series A funding round.
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Kuunda, a South Africa-based B2B digital lending-as-a-service technology company, has completed its pre-Series A funding round.
Investors include the Portugal Gateway Fund, Seedstars Africa Ventures, 4Di Capital, Accion Ventures, Nedbank and E4E Africa.
Kuunda partners with mobile money operators, e-commerce businesses, and gig economy companies to build and manage their financial services strategy, and then enables local banks to embed their credit products into Kuunda’s partners’ digital payment platforms. Kuunda’s model harnesses billions of transactional data points, and delivers tailored credit to underserved end-users, such as mobile money agents, micro-SMEs and consumers, all while empowering financial institutions to lend sustainably.
Since 2024, Kuunda has scaled its operations from Tanzania and Pakistan to Uganda, Malawi, Kenya and Mozambique.
“We are unlocking access to finance for Africa’s productive class – the agents, merchants, and small businesses that are the backbone of these economies, whilst helping consumers build up resilience by accessing credit when they need it the most,” said Andrew Milne, co-founder and co-CEO at Kuunda. “This funding validates our team’s dedication and the strength of our partnerships. With this capital injection, we can accelerate our mission, extend our reach into new markets, and build a more financially inclusive future for the continent.”
Erik Van Veen, partner at Portugal Gateway Fund, commented: “Kuunda’s data-driven behaviourally-based credit scoring gives banks and capital providers the confidence to serve the informal economy at scale. By turning billions of digital transactions into actional risk insights, Kuunda makes last-mile lending sustainable, repeatable and profitable. We’re excited to back a team helping create the inclusive credit rails for the continent.”
“Across our markets, we repeatedly see agents, MSMEs and consumers constrained by cashflow, not demand. Kuunda’s embedded overdraft and working-capital products unlock liquidity exactly where commerce happens – at the edge,” said Bruce Nsereko-Lule, general partner at Seedstars Africa Ventures.
To date, Kuunda has disbursed over $3 billion in loans for its bank partners.
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