OZÉ provides a business app that digitizes recordkeeping and embeds finance products for medium and small businesses in Ghana and Nigeria. The app collates sales, expenses, payables, receivables and customer data, and surfaces tailored recommendations, reports, daily business tips, monthly seminars and access to an on-demand business coach. OZÉ analyzes performance and behavioural data to predict credit risk and create alternative credit scores, partnering with banks and fintechs to deliver loans that can be collateral-free; businesses on the platform take an average loan of $5,000 and pay up to 36% APR. The company recently launched a payments integration so merchants can accept mobile money, card and bank transfers, which can influence credit limits and rates. OZÉ reports more than 125,000 business owners on the platform, active monthly users grew 1,200% last year, loans granted rose 200% from Q3 to Q4 2021, and 97% of users run businesses that are growing, profitable, or both. The startup plans to build out its team, acquire more customers, deepen its presence in Ghana and Nigeria, and begin expansion into new African markets. OZÉ provides a platform for micro and small enterprises (MSEs) to keep digital financial records and receive actionable insights to make better business decisions. The product is designed to improve merchant performance and strengthen creditworthiness so businesses can access formal credit, including inventory financing. OZÉ’s tools target Ghana’s informal MSEs as part of a broader push to digitize retail operations, inventory management, and merchant records. The company reports that 97% of high-active OZÉ users were growing, profitable, or both, indicating strong engagement and positive operating outcomes among core users. As part of the Catalyst Fund cohort, OZÉ will receive tailored acceleration support and connections that can help scale its adoption among Ghanaian informal retailers. The platform’s focus on recordkeeping and lending-readiness positions it as an enabler of digitization and financial inclusion for small merchants. OZÉ is a Ghana-based mobile app that helps small businesses record sales, expenses, payables, and receivables. The platform aggregates that data to provide context-specific recommendations and reports, and uses machine learning to predict credit risk. It connects businesses with affordable capital from banking partners based on those credit assessments. Launched in beta in 2018, OZÉ has over 25,000 registered users, and paying subscribers have recorded more than 250,000 transactions valued at over US$50 million through the app. The company is integrating with Paystack and other PSPs to enable SMEs to accept and send payments through the app and is partnering with more financial institutions to expand lending. OZÉ recently closed a US$700,000 seed round to grow its team and expand into Nigeria.

Total raised

$54M

Funding rounds

4

Latest round

Series A

Latest activity

Jan 2022