Kenyan fintech Asilimia has secured $2 million in pre-seed funding to deliver new services and expand into new East African markets. The fintech startup raised the $1 million in pre-seed funding from some European angel investors. An additional debt round of $1 million was further raised from players such as Bpifrance and GreenTec Capital Partners.
The secured funds will be channeled towards growing the team and expansion while the debt funding will help the company extend credit to MSMEs.
Asimilia is creating an easy-to-use yet affordable digital platform that formalizes payments, revenue collection, and accounting for small businesses. Entrepreneurs can record expenses and sales, track pending payments, and gain financial insights through a simplified dashboard.
Asilimia has previously taken part in the Paris-based prestigious Station F incubation program and Norrsken Impact Accelerator program. In 2019 they won the Africa Cup at the 2019 SA Innovation Summit where they landed a $350,000 investment from pan-African investment firm Unicorn Group.
More news on the raise is available on the TechCrunch
You can download the Asilimia app here