Kenya based peer to peer microlending marketplace Pezesha has secured a seed investment from Consonance Investment Managers to help it scale to East and West Africa.
The company wants to be the first online financial marketplace that brings together financial services for lenders, borrowers, and investors.
The Seed Investment
Before the seed investment, Pezesha received pre-seed funding in 2017 from angels in New York and Kenya and DFS Lab.
The current investment from Consonance Investment Managers came through Consonance Kuramo Special Opportunities Fund I.
Chief executive of Pezesha and ex-founder of Weza Tele Hilda Moraa stated:
“We are delighted and honoured to have Consonance as strategic partners to support and fuel our mission of achieving meaningful financial inclusion to the 200 million in Sub-Saharan Africa who have been exploited and excluded from the formal financial ladder.”
Consonance Investment Managers CEO Mobolaji Adeoye asserted: “They are setting the foundation to enable every African access credit and other financial services in a convenient, responsible, and transparent manner. The investment will help enhance Pezesha’s technology platform and fuel its growth plans across East and West Africa. We are glad to join Hilda and her team on this journey.”
The first round of funding was used to establish Pezesha’s team and platform which has conducted over 20 million transactions and has connected thousands of quality borrowers to over 2,000 lenders.
In March this year, Pezesha joined the first Google Launchpad in Africa, an initiative that will offer African startups more than $3 million in equity-free support, access to expert advisers from Google, Silicon Valley, and Africa, and working space.
