Kenyan fintech startup FlexPay has raised an undisclosed amount of funding from the Cairo Angels Syndicate Fund (CASF), seeking to further its growth and help more people avoid debt.
“We are excited to have Cairo Angels as investors as we plan to grow and scale to more markets in Africa. We seek to solve the un-affordability gap for the large under-banked African population without subjecting them to the debt trap,” said Richard Machomba, FlexPay founder and CEO.
FlexPay is an online and offline payment gateway which allows merchants to offer interest-free targeted savings to customers in Africa. Through the firm, merchants give customers freedom to choose how and when to pay for high-value goods and services.
Last month, Car and General partnered with the startup, seeking to enable customers make partial payments as an alternative way of product acquisition.
See Also:
