Ghanaian Fintech Oze Secures Undisclosed Funding From Visa And DEG

Oze, a Ghana-based fintech company providing digital lending solutions for financial institutions and SMEs, has secured investment from Visa and German development finance institution DEG. Existing investors, including Speedinvest and AfricInvest through its Cathay AfricInvest Innovation Fund, also participated in the round.

Established in 2018 by co-founders Meghan McCormick and Dave Emnett, Oze launched as a mobile app that helps small businesses record their sales, expenses, payables, and receivables, Oze uses proprietary technology to predict a business’ credit risk and provide it with affordable capital from its banking partners. The startup raised a USD 3 M pre-Series A round of capital in 2022, and has now followed that up with this undisclosed round.

This funding follows Oze’s selection into the inaugural Visa Accelerator Program, where it was among a handful of startups chosen from over 1,000 applicants. Visa Ghana’s Country Manager, Fabrice Konan, highlighted the company’s role in fostering financial inclusion for underserved small businesses, while DEG’s investment through its Up-Scaling Programme underscores Oze’s potential to drive economic growth in emerging markets.

Oze plans to use the funding to scale its Lending Management System (LMS), which enables banks, microfinance institutions, and fintechs to offer unsecured, no-collateral digital loans to small businesses. Powered by machine-learning credit risk algorithms, the LMS ensures smarter lending decisions, making credit more accessible to millions of African SMEs.

Oze was also recently named a top-three finalist for the Milken Motsepe Prize for Fintech, selected from over 5,000 applicants for its innovative approach to expanding financial access in emerging markets.

Currently operating in eight African countries, including Ghana, Nigeria, and Rwanda, Oze partners with major banks like Ecobank to provide digital lending infrastructure. With this latest investment, the company is set to accelerate financial inclusion and unlock capital for small businesses at scale, supporting its long-term mission to build 100 million profitable SMEs across Africa.