Click to watchKuunda, a B2B digital lending-as-a-service company, has raised $7.5 million in a pre-Series A funding round to accelerate its expansion across the Africa, Middle East, and North Africa (MENA) region. Portugal Gateway Fund, Seedstars Africa Ventures, 4Di Capital, Accion Ventures, Nedbank, and E4E Africa backed the round. The new funding will enable Kuunda to scale into new markets and advance its mission of driving financial inclusion for millions of underserved individuals and businesses.
Kuunda’s funding comes at a time when Africa’s digital lending market is growing rapidly, driven by mobile money adoption and a strong push toward financial inclusion. According to the GSMA, over 70% of adults in Sub-Saharan Africa now use mobile money, creating fertile ground for fintechs like Kuunda to deliver flexible credit solutions.
Founded seven years ago, the company already serves over 10 million customers through partnerships with banks, mobile money operators, e-commerce platforms, and gig-economy companies. After expanding from Tanzania and Pakistan to Uganda, Malawi, Kenya, and Mozambique in 2024, Kuunda is now setting its sights on a broader regional footprint.
“We are unlocking access to finance for Africa’s productive class—the agents, merchants, and small businesses that are the backbone of these economies,” said Andrew Milne, co-founder and co-CEO at Kuunda. “At the same time, we’re helping consumers build financial resilience by accessing credit when they need it most.”
The fresh capital will be used to enhance Kuunda’s product offerings and strengthen its embedded finance partnerships across the continent. By working with financial institutions and ecosystem partners, Kuunda aims to make credit access seamless, affordable, and instant for small businesses and last-mile agents.
Bruce Nsereko-Lule, General Partner at Seedstars Africa Ventures, emphasized the company’s impact:
“We are thrilled to support Kuunda’s mission to widen access and power everyday entrepreneurs. Across our markets, we repeatedly see agents, MSMEs, and consumers constrained by cash flow, not demand. Kuunda’s embedded overdraft and working-capital products unlock liquidity exactly where commerce happens—at the edge.”
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