South African fintech startup Kuunda has secured $7.5 million, equivalent to approximately R126 million, in a pre-Series A funding round to accelerate its growth across Africa and the broader Middle East and North Africa (MENA) region, promoting large-scale financial inclusion. Established in 2018, Kuunda operates as a business-to-business digital lending-as-a-service platform, offering tailored overdraft and working-capital solutions. By partnering with mobile money operators, point-of-sale network providers, e-commerce platforms, and banks, Kuunda integrates credit products into existing digital ecosystems, using data-driven credit scoring to deliver accessible financing to mobile money agents, merchants, and consumers in emerging markets, as detailed in Disrupt Africa.
The platform has already enabled over 10 million end-users to access credit and facilitated banks in disbursing more than $100 million (approximately R1.68 billion) in loans to two million customers each month. To date, Kuunda has supported the distribution of over $3 billion (approximately R50.4 billion) in loans through its banking partners, highlighting its significant role in addressing liquidity challenges for underserved groups. The funding round saw participation from prominent investors, including the Portugal Gateway Fund, Seedstars Africa Ventures, 4Di Capital, Accion Ventures, Nedbank, and E4E Africa, empowering Kuunda to advance its mission of delivering innovative financing products alongside strategic partners across its target regions, according to TechCabal.
This capital injection will support Kuunda’s continued geographic expansion and the enhancement of its productive financing offerings, empowering entrepreneurs and small businesses facing working-capital constraints. Since 2024, Kuunda has rapidly expanded its operations from Tanzania and Pakistan to Uganda, Malawi, Kenya, and Mozambique, reflecting strong market demand for its customised liquidity solutions. This growth aligns with broader African fintech trends, where digital lending platforms have disbursed over $5 billion (approximately R84 billion) in loans across the continent in the past year, driving micro, small, and medium enterprise (MSME) growth in a market projected to reach $10 billion (approximately R168 billion) by 2027, as reported by African Business.
Andrew Milne, Kuunda’s co-founder and co-chief executive, highlighted the platform’s commitment to unlocking finance for Africa’s productive class—agents, merchants, and small businesses that form the economic backbone—while enhancing consumer resilience through timely credit access. The investment validates the team’s dedication and robust partnerships, enabling accelerated market expansion and the creation of a more inclusive financial future. With over 60 per cent of African MSMEs citing access to finance as a primary obstacle, Kuunda’s model supports scalable growth and contributes to economic uplift, with the African Development Bank estimating that improved SME financing could add $100 billion (approximately R1.68 trillion) annually to regional economies.
Erik van Veen, partner at the Portugal Gateway Fund, commended Kuunda’s data-driven, behaviour-based credit scoring, which provides banks and capital providers with reliable risk insights derived from billions of digital transactions. This approach makes last-mile lending sustainable, repeatable, and profitable, particularly for informal economies. The fund’s backing reflects increasing European investment in African fintech, with cross-border funding in the sector exceeding $2 billion (approximately R33.6 billion) in 2025 to date, as noted by Ventureburn. By building inclusive credit infrastructure, Kuunda is set to reshape financial services, fostering sustainable growth and opportunity across Africa’s vibrant markets.