Ugandan fintech company raises $1m pre-seed funding

Ugandan digital financial platform Zofi Cash has secured pre-seed funding of $1 million from Advancly, a business-to-business financing company.

Zofi Cash enables employees to take care of financial emergencies before pay day by providing affordable salary advances

The company said in a statement, ”At Zofi Cash, we’re on a mission to revolutionise the way salaried individuals access their wages. Our innovative platform is designed to offer early access to wages, ensuring that people have the financial resources they need to take care of immediate needs without waiting until the end of the month. With over 1,500 partner employers and over 22,000 employees in Uganda alone, we understand the struggles that people face when they have to wait for their salaries to be paid. Our partnership with employers has enabled us to create an incredible platform that is faster and easier than ever before. Our innovative system not only offers financial security but also ensures that salaried individuals have the flexibility they deserve.”