Deal Street

African Startup Funding Tracker

$603,379,000+

*Data updated daily at 18:00 EAT

South African Company Fin Acquires Thuthukani
South African Company Fin Acquires Thuthukani

South African company Fin, which is building one of Africa’s first credit-led neobanks as it bids to accelerate financial inclusion throughout Sub-Saharan Africa, has completed the acquisition of the housing finance provider Thuthukani and integrated it as Fin Home Loans. The acquisition of Thuthukani supports Fin’s expansion into all relevant finance offerings for individuals and SMEs across its markets. Thuthukani’s incremental housing finance offering has been renamed to Fin Home Loans and integrated into Fin’s South African portfolio. Fin Home Loans’ aim will remain to give middle-to-lower income Fin customers access to affordable finance.

Fin, formerly known as Finclusion Group has developed a product offering that focuses on creating value for employers, employees, and consumers while closing the credit gap that persists on the continent. The fintech uses AI algorithms to provide financial services to African customers via an array of credit-centric products and has adopted a credit-led approach, including products like Smart Advance, Happy Pay, Trust Gro, NiftyCredit, and NiftyPay.