FUNDINGUpdated 1 months ago

Asante Financial Services

Asante: Kenya-founded credit-led neobank operating in Kenya, Uganda, Rwanda, Nigeria. Series A USD 7.5M from Goodwell uMunthu, Sorenson Impact, Forsage Holdings. SOLV Kenya partnership USD 10M for distributors.

English, French, Portuguese or Arabic, machine translated, with the original kept beside it.
Key Information
Organisation
Asante Financial Services Group
Location
Kenya, Uganda, Rwanda, Nigeria
Status
Open
Application Deadline
Rolling
Type
Loan
Amount
USD 100 to 50,000
Size
small
Language
English
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Description

Asante Financial Services Group is a credit-led neobank for MSMEs in Africa, operating across Kenya, Uganda, Rwanda, and Nigeria. The company supports MSMEs with two business lines: ecosystem-based lending (where it lends to participants in established business ecosystems like SOLV Kenya) and a NeoBank offering. Asante closed a Series A first tranche of USD 7.5 million from Goodwell Investments uMunthu Fund, Sorenson Impact Foundation, and Forsage Holdings. The companys partnership with SOLV Kenya (a Standard Chartered subsidiary) committed a USD 10 million credit line for the pilot phase, providing alternative credit scoring and working capital to enrolled MSMEs. Asante targets operations in 10 countries with 2 million MSME clients by 2025.

Focus Sectors

MSME, Working Capital, Distribution Finance