Cape Town, South Africa – 15 October 2025 – Kuunda, a fast-growing B2B Digital Lending-as-a-Service technology company providing embedded overdraft and working-capital solutions across Africa, announced the completion of its Pre-Series A funding round. The round, included the participation of several prominent investors, including; Portugal Gateway Fund, Seedstars Africa Ventures, 4Di Capital, Accion Ventures, Nedbank and E4E Africa, will accelerate Kuunda’s mission to deliver innovative, productive financing products in collaboration with banks and its strategic partners across the continent and the broader MENA region, driving financial inclusion at scale.
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 seamlessly embed the 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, responsibly and profitably.
Since 2024, Kuunda has rapidly scaled its operations from Tanzania and Pakistan to Uganda, Malawi, Kenya and Mozambique, showcasing its ability to execute bold expansion strategies. This growth underscores the strong demand for Kuunda’s tailored liquidity solutions, which directly address the working capital challenges of agents, MSMEs and consumers in emerging markets.
“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 & 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 on the investment: “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. “We’re thrilled to support their mission to widen access and power everyday entrepreneurs.”
Established in 2018, today Kuunda has enabled over 10 million end users to access credit and has enabled banks to disburse over US$100 million in credit for over 2 million customers every month. To date, Kuunda has disbursed over $3 billion in loans for its bank partners. The new funding will be used to support Kuunda’s continued geographic expansion and to further develop its suite of productive financing products to empower more entrepreneurs and businesses across Africa. Partners and Financiers interested in partnering with Kuunda to provide last-mile working capital are welcome to reach out to the Kuunda team at info@kuunda.com.
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About Kuunda
Kuunda is a B2B digital Lending-as-a-Service company that provides tailored liquidity solutions built through meaningful collaborative partnerships. By partnering with mobile money operators, POS network providers, e-commerce players and banks, Kuunda embeds credit products into existing digital platforms, using data-driven credit scoring to provide productive financing to mobile money agents, merchants, and consumers in emerging markets. Kuunda’s mission is to become the leading embedded digital financial services platform for financially underserved users in Africa and beyond.
About Portugal Gateway Fund (PGF)
Portugal Gateway Fund is a joint venture between Kigeni, a successful African private equity and growth capital investor and Green One Capital, one of Portugal’s largest and most established fund managers. Investors in the fund qualify for a Portuguese golden visa and obtain exposure to the fund. The fund finances the international expansion of proven and rapidly growing technology businesses. The fund has a strong focus on backing mature founders who see a clear path to profitability and sustainability.
https://www.portugalgateway.com
About Seedstars Africa Ventures
Seedstars Africa Ventures is a pan-African venture capital fund investing in innovative startups from seed to Series A stages. The firm is part of LBO France group, and leverages Seedstars extensive entrepreneurial networks to provide smart capital to bold entrepreneurs solving Africa’s most pressing challenges through scalable, tech-enabled solutions. Its lead investors are the European Investment Bank, the EU-ACP Trust Fund and the African Development Bank. Learn more at www.seedstars-africa.vc.
About 4Di
4Di Capital is an independent venture capital firm that invests in Africa-based entrepreneurs who are building for both regional and global markets. Based in South Africa’s “Silicon Cape”, the fund manager specialises in high-growth technology venture opportunities, at the seed, early-and growth-funding stages. 4Di has offices in Cape Town, South Africa and Atlanta, Georgia, U.S.A. with funds managed by the GP partnership team of Anton van Vlaanderen, Erik van Vlaanderen, Justin Stanford and Laurie Olivier.
https://www.4dicapital.com/
About Accion Ventures
Accion Ventures is an investment strategy that today pursues early-stage investments as part of Accion Impact Management. Accion Ventures deploys capital into early-stage fintech startups that operate in countries worldwide. Investments managed by Accion Ventures have shown that early-stage companies can be highly impactful and have delivered multiple exits. More at https://www.accion.org/ventures
About E4E Africa (E4E)
E4E Africa is a venture investor that backs Africa’s best entrepreneurs in their journeys to build high-growth, impactful companies. E4E (“Entrepreneurs for Entrepreneurs”) differentiates itself by:
- Being founded by experienced entrepreneurs and bringing together a broader network of accomplished founders – creating an ecosystem that backs a next generation of founders;
- Often investing early, but specializing in building up significant stakes in outperforming businesses during the scale up phase – backing these companies until value-maximizing exit;
- Investing primary and secondary capital. Secondary liquidity is rare in the African ecosystem, and the secondary investments typically unlock significant value for E4E investors, as well as portfolio company founders and early investors.
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