Fin (formerly Finclusion Group) builds credit-first consumer financial products across Eastern and Southern Africa, operating in Tanzania, Namibia, South Africa, Eswatini and Kenya. Its product suite includes employer-partnered SmartAdvance, wage-streaming and payroll loans, insurance, savings, cards and a merchant-network BNPL product in development. The company says its loan book has grown 30% year-over-year and serves over 40,000 unique customers; products carry APRs of roughly 24–42% and current default rates of 7–8% (targeting about 3%). Fin has consolidated subsidiaries under the Fin brand and plans geographic expansion next year alongside third-party offerings for microfinance banks via a technology called Fin Connect. That technology is supported by its earlier acquisition of microfinance tech provider Awamo. Fin also backs adjacent businesses through a venture portfolio, including Kenyan insurtech m-Tek. Finclusion uses AI-driven credit products and employer partnerships to provide payroll loans, wage-streaming and other consumer credit solutions across several African markets. Since its 2018 inception the company has disbursed over $300 million in loans to more than 240,000 customers, with 28,000 customers holding active loans. Monthly disbursements have increased 140% over the past 18 months and the loan book grew 30% from December 2020 to December 2021. The firm operates in South Africa, Eswatini, Kenya, Namibia and Tanzania and plans expansion into Mozambique and Uganda while maintaining administrative hubs and tech teams in Kenya and South Africa. Finclusion is diversifying beyond credit into insurance, planned savings products, cards and BNPL via a merchant network as part of a broader neobank strategy to retain and grow users.

Total raised

$22M

Funding rounds

3

Latest round

Equity

Latest activity

Dec 2022