🇰🇪 Kenyan Fintech startup raises $2 million in seed funding

Paylend, a Kenyan Fintech startup focused on providing access to finance and digitizing MSMEs in Kenya has raised $2 million dollars seed investment from Next Chymia Consulting HK Limited, an Asian-based company that provides blockchain applications, consultancy services, and training to global entities.

Paylend’s mission is to support MSMEs across Africa solve the problem of access to continuous capital while bridging the consumer data gap by connecting consumers to products and services.

This investment will help Paylend grow its operation in the Kenyan market and open new markets in Tanzania, Zambia, and Nigeria as part of its next 3 years growth plan.

Paylend’s model enables last-mile consumer data collection that allows for a thorough understanding of consumer needs as it creates value for the SMEs ecosystem.

Founded in September 2019, Paylend has digitized over 10,000 SMEs and growing with its users enjoying an array of services including access to credit for products and services and crowdfunding tools.