Pezesha, a Pan-African fintech company building scalable lending infrastructure for small and medium-sized enterprises(SMEs) and institutions, recently acquired a license to operate in Uganda.
The fintech announced this news on LinkedIn saying, “We are excited to announce that Pezesha is now fully licensed to operate in Uganda and impact more MSMEs with affordable financial services and forge deeper embedded finance partnerships in Uganda. We received our Mobile Lending License.”
Pezesha further added that thanks to Uganda Microfinance Regulatory Authority (UMRA), they also received their Digital Lending License.
The Kenyan fintech platform received an $11 million investment from Cardano last year in August and it revealed that one of the goals for the funding was to expand into Nigeria, Ghana, Uganda, Rwanda, and Francophone Africa.
According to The Kenyan Wallstreet, Pezesha has been in operation since 2017, and it provides financial access to underserved micro, small and medium-sized enterprises by linking them to banks, microfinance institutions, and other retail lenders through a digital platform.
The fintech received a nod from Capital Markets Authority (CMA) in 2020, which saw it become the first local firm to successfully exit the CMA sandbox with a letter of no objection to operate in Kenya.
According to their website, the platform now operates in Kenya, Ghana, and Uganda and will soon launch operations in Rwanda and Nigeria.