FutureLink, a Ugandan fintech startup, is transforming access to financial services for the unbanked through its community-driven marketplace.
- The platform facilitates easy and affordable access to financial services provided by a network of financial cooperatives, empowering individuals who have limited or no access to traditional banking services.
- FutureLink’s marketplace allows users to choose the most relevant and affordable financial services based on their preferences, utilizing the MSACCO app for seamless transactions, savings, credit, and dividend earnings.
- By partnering with financial cooperatives, FutureLink enables consumers to influence the design, delivery, and pricing of financial services, ensuring services are tailored to the needs of the community.
- The company’s focus on financial inclusion came after participating in the Stanford Seed Transformation Programme, aiming to solve the problem of financial exclusion by offering cost-effective and relevant services to the unbanked and underserved population.
- FutureLink has achieved significant traction with 127,000 digital subscribers, 170 onboarded institutions, and aggregate savings of US$54 million, along with an aggregate loan value of US$80 million.
- The company operates on a profitable model, earning transaction revenue from digital subscribers and charging financial cooperatives a one-time initial license fee and an annual fee to be part of the platform.