Yango Group, a UAE-based tech company, has announced a new investment in Zanifu, a Kenyan fintech platform that provides access to working capital for small and medium-sized enterprises (SMEs).
- •Founded by Steve Biko and Sebastian Mithika in 2017, Zanifu provides financing to SMEs to help purchase inventory, manage cash flow, and scale sustainably.
- •The company has already financed 15,000 SMEs, disbursing tens of millions of dollars in loans.
- •The two companies did not disclose the size of the investment.
“Zanifu is working on exactly what we care about — building tools that help other businesses grow,” said Daniil Shuleyko, CEO of Yango Group, “By giving thousands of SMEs real access to capital, the team is enabling them to expand and succeed.”
The investment was made through Yango Ventures, a corporate venture fund that was launched earlier this year with an initial $20 million fund targeting early-stage startups across Africa, LATAM, and MENAP.
