Tanda is planning to expand its East African operations after securing record funding in February 2021. The growth comes after successfully pioneering the merchant model in Kenya and proving its viability. This model was previously approved in West Africa prior to Tanda.
Today the startup’s network supports 58 SACCOs and banks, 18 billers, 4 telecoms, 12000 agents, and merchants, serving 300,000 unique customers processing millions of transactions to date. Tanda is looking to expand to Uganda, Rwanda, and Tanzania in the next 2 years.
Tanda was launched in 2018 and runs as an independent agent-network operator that enables telcos, banks, and several other digital service providers to serve customers their customers through a nationwide network of commission agents, with distributions costs that are a fraction of the traditional channels.
The startup previously managed to secure record funding from Zedcrest Capital, HAVAÍC, DFS Lab, Victor Asemota, and 3 other investors. Tanda just secured strategic partnerships with Interswitch and MasterCard to accelerate this growth.