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Ghanaian fintech startup OZÉ, which provides digital recordkeeping tools with embedded finance products to MSMEs, has raised a USD 3 Mn pre-Series A funding round to expand the capabilities of its platform and increase access to affordable finance. Speedinvest led the round with participation from Cathay AfricInvest Innovation Fund, Savannah Fund, and several angels.
OZÉ is a mobile app that helps small businesses record their sales, expenses, payables, and receivables. The platform then aggregates that data to provide context-specific recommendations and reports. Using this data and machine learning, the startup predicts a business’ credit risk and provides it with affordable capital from its banking partners. The startup will use the funds to expand the capabilities of its platform and increase access to affordable finance in Ghana and Nigeria through its partnerships with well-known commercial banks.