Asante Financial Services, an African fintech, has raised a $7.5 million Series A round of funding to expand its credit offers to the underrepresented MSMEs in Kenya and Uganda, as well as Nigeria and Rwanda.
Asante stands out with its ecosystem-based digital lending platform, which approves loans to SMEs using alternative data and a unique AI loan decision management system.
“We are thrilled to welcome Goodwell, Sorenson, and Forsage as new institutional investors in our first institutional campaign.” “Together, we will improve access to credit, financial independence, and welfare for the continent’s millions of small companies,” stated Chidi Okpala, Asante’s founder and CEO.
Asante is now launching its Business Lending Platform to expand its lending and other services to small business clients, including important tools such as the Business Financial Manager, Management Toolkit, and Tax Advisory, to help them run their businesses more efficiently while instilling resilience.
“With its revolutionary digital platform and ecosystem strategy, Asante has solved these difficulties.” “We are very confident that the business will scale quickly and successfully with this round of funding,” says Bitta Wycliffe, Senior Investment Associate at Goodwell Investments. “The company’s success to date is proof that the model works, and we are very confident that the business will scale quickly and successfully with this round of funding.”
Asante is a Mastercard digital lending strategic partner in Africa, and the only African fintech in a class of six scaling start-ups invited to join the award-winning Mastercard Start Path program in May 2021.