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Consumer Credit Startups in Africa

Consumer credit is heating up in East Africa, with local fintechs like Money Fellows and Sava grabbing market share. Banks are feeling the pressure to innovate, but they're also wary of the risks. The real story on the ground is that there's a lot of potential, but also a lot of challenges. Local business leaders are excited about the opportunity to reach more customers, but they're also concerned about the regulatory environment and the potential for defaults. Overall, the consumer credit mark...

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Market Map

5 companies in this sector

CompanyTaglineTotal FundingLast RoundTeam SizeBackersAction
Money Fellows
Money Fellows
Egypt

Digitizing Collaborative Group Lending and Savings in Egypt

$62M
Pre-Series C
-
51-200
No Data
Mylo
Mylo
Egypt

Mylo is a Cairo-based B2C fintech platform, spun out of B.TECH, offering Sharia-compliant consumer finance solutions.

$37M
Debt Financing
-
201-500
No Data
MyCredit
MyCredit
Kenya

MyCredit is a Kenyan consumer-focused fintech offering quick loans and insurance solutions to individuals.

$9M
Debt Financing
-
201-500
No Data
Sava
Sava
South Africa

Empowering business growth through tools and credit management.

$2M
Pre-seed
-
2-10
No Data
Motito
Motito
Ghana

Motito is a consumer fintech company offering “Buy Now, Pay Later” services to individuals across Africa.

$139K
Pre-seed
-
1-10
No Data