Kenyan-based start-up Tanda has embarked on an expansion plan after securing funding from HAVAIC- an early stage African tech investor, DFS Lab, Zedcrest Capital, Victor Asemota among other investors.
Tanda is an independent agent network that uses a common API to help users connect multiple Digital and Financial services.
“Tanda is solving one part of the very deep and complex problem of financial inclusion that is not only Kenyan but a problem across all emerging and undeveloped markets,” says Rob Heath, partner at HAVAÍC.
Heath also said that Tanda’s founders had demonstrated real growth with a rich history of building agency networks from scratch, coupled with experience in the management of real family micro-retail operations.
“This knowledge was shown not in flashy presentations and buzz words, but with real growth on the ground and solid corporate partnerships where other early-stage businesses would normally struggle to get a meeting.”
Tanda’s network currently supports supports 58 financial institutions, four telecoms, 18 billers and 12,000 merchants and agents. At least 300,000 unique customers have transacted on the platform, processing millions worth of transactions.
“Our team will continue to run the aggressive agent and customer acquisition drives across the region, while securing more strategic partnerships in these new markets to further support Tanda’s growth and strategy as we pursue our goal of digitising payments across Africa.” Geoffrey Mulei, CEO of Tanda said.
The startup has also partnered with Mastercard and Intwerswitch to accelerate growth.