Ensibuuko Is Disrupting Low-cost Banking Access for Unbanked Individuals in Africa
Lead Investor: Ed Levinson
* Savings and Credit Co-Operatives
Ensibuuko is changing the way Africa’s 500M unbanked individuals interact with their local credit union/micro-finance institution. They have developed a modern software platform that supports all the standard banking transactions and enables individuals to bank using any SMS-enabled phone.
The company has paying customers in Uganda and is expanding into Malawi and Zambia next month. They are also in discussions to expand into Nigeria, Tanzania, Rwanda, and Ghana. Ensibuuko is building an infrastructure to support one of the most basic needs in the developing world – access to low-cost credit. Ensibuuko has raised the first $500K tranche in its $700K equity round, and is now seeking the second tranche of $200K.