Tanda, the Kenya agency banking startup, has recently closed a funding round that will expand its operations regionally.
The startup had earlier secured funding in February 2021 from HAVAÍC, DFS Lab, Zedcrest Capital, and Asemota. Three other investors were involved in the round. Tanda has completed strategic partnerships with Interswitch & Mastercard that accelerates growth.
Tanda’s growth is fueled by pioneering and proving the viability of the agency and merchant model in Africa. According to CIO, Tanda’s platform and network hosts over 58 SACCOs and banks,18 billers, 4 telecoms and over 12,000 agents and merchants. All who process millions in transactions to this day. Tanda plans on growing its Kenyan footprint to over 100,000 merchants and agents while expanding further to Rwanda, Uganda and Tanzania.