Kyanda, a Kenyan fintech that facilitates payment of utilities and money transfers via an easy-to-use app has branched its operations to South Africa.
The startup rolled out its operations in 2020 and has been expanding its portfolio since. From the platform, users can purchase airtime, pay bills and make money transfers at relatively lower prices.
At the time of its launch, CEO Collins Kathuli was only 19 years old. Kathuli told a local publication that “Kyanda focuses on anyone with a smartphone, and even that Mwananchi who doesn’t have a smartphone and with no internet access, should have no worries.” The firm has reportedly processed more than three million transactions worth KES 62 million to date.
Kathuli was awarded the Founder of the Year in 2020.
“We have other markets in our pipeline. This would be achieved best once we establish the market fit for our products, and of course, after we’ve built firm roots in the current locations we’re present,” He said.
The company claims more than 15,000 downloads of its app and more than 30 merchants using its API. The firm has also entered into partnerships with banks, utility firms and some Chinese manufacturers.
“With API gateway, businesses are able to integrate into their systems and access utility vending, payment collection and disbursement to/from mobile wallets and banks. For the first time, Kyanda offers an open API that allows real-time disbursement of funds to all 42 banks in Kenya, “Kathuli told the Business Daily earlier this year.
Follow us on Telegram, Twitter, and Facebook, or subscribe to our weekly newsletter to ensure you don’t miss out on any future updates. Send tips to email@example.com