Kenyan Fintech Asante Secures USD 7.5 Mn Series A Funding

Asante, a Kenyan fintech startup, has raised USD 7.5 Mn in Series A funding to expand its credit offerings to a host of African countries. The round was led by Goodwell Investments with participation from other investors including, Sorenson Impact Foundation and Forsage Holdings.   

Asante has created a digital lending platform that approves loans to micro, small, and medium-sized firms (MSMEs) in Sub-Saharan Africa using alternative data and a unique AI loan decisioning management system. The company works directly with ecosystem channel partners, including telcos, mobile-based marketplaces, airlines, retailers, payment processors, insurance companies, smartphone phone OEMs, and large FMCGs, to collect conventional and non-conventional MSME data, with the prior consent of the clients, in order to reduce the cost of customer acquisition and due diligence while providing sufficient alternative data for credit underwriting.