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Pezesha, a Kenyan-founded Pan-African embedded finance fintech startup, has raised a pre-series A funding round of USD 11 Mn in a mix of USD 6 Mn equity and USD 5 Mn debt. The round was led by Women’s World Banking Capital Partners II (WWBCP II) with participation from Verdant Frontiers Fintech Fund (an early stage African Fintech Fund), cFund and IOG, Talanton, and Verdant Capital Specialist Funds investing debt in this round.
Pezesha offers a B2B digital lending infrastructure focused on providing affordable working capital to financially excluded SMEs in Sub-Saharan Africa. The company plans to use the funds to significantly scale operations in its core markets in East Africa and expand its digital lending infrastructure to the West African market.