Kenyas fintech Power set to scale after $3M seed round

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  • And then they go on to access expensive microcredit [from loan apps], which left them struggling from a financial health perspective,” said Dempsey, Power co-founder and CEO.“This is what informed the launch of Power.
  • We then conduct digital identity checks, and open up our four key services to them,” said Dempsey, who co-founded Power with Chandra Singh in 2020.“Once we connect into a company, we already know how much the individuals are earning, how long they’ve worked there.
  • Power is also eyeing expansion to at least 10 markets in Africa over the next three years.Google to ban unlicensed loan apps in Kenya as new rules take effect
  • We connect into the credit bureau real time to pull information on other facilities they might have in the market.
  • We know whether they’re full-time, part-time contractors, or gig workers.
After working in Africas microfinance space for seven years, including at Botswanas Letshego, Brian Dempsey took a break in 2020 to build Power Financial Wellness, operating out of Kenya.Dempsey sa [+3931 chars]