Kenyan software firm Craft Silicon targets bank customers with a new Buy Now Pay Later product

The Buy Now Pay Later (BNPL) payment industry in Kenya has recorded strong growth over the last four quarters, supported by increased e-commerce penetration. 

According to, the medium to the long-term growth story of the BNPL industry in the country remains strong. The report notes that BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 12.2% during 2023-2028. The BNPL Gross Merchandise Value in the country will increase from US$857.7 million in 2022 to reach US$1,881.7 million by 2028.

Craft Silicon, a Kenyan software company behind Little app wants a share of this market and has now launched a new Get Now Pay Later (GNPL) product known as Spotit.

Unveiled on Tuesday, Spotit is targeting bank customers, offering them seamless access to product financing directly from their mobile apps with a repayment period of between 6 to 12 months. The product was unveiled as a ‘’mini-app’’ and will be embedded in local banking apps for easy access. 

“We are proud to revolutionize BNPL in Africa and create a product that offers unparalleled value to our partners and customers alike,” said Mr. Kamal Budhabhatti, Group CEO of Craft Silicon. “Spotit represents a significant step towards financial inclusion and empowerment for individuals across the continent.”

How it works

Buy now, pay later (BNPL) is basically a type of short-term financing that allows consumers to make purchases and pay for them over time, usually with no interest. Compared to traditional personal loans, BNPL loans are fairly easy for consumers to get approved for.

Spotit comes embedded in your banking app. As of launch, Craft Silicon says it had onboarded about four banks with more to be onboarded in the coming weeks.  Customers will have to log in to their banking app, activate their accounts, select the desired merchant by inputting the merchant code on their app, and the merchant will process the items on a hub provided by Spotit. 

Once the customer confirms the purchase on their app and accepts the terms and conditions, a unique code will be generated, finalizing the loan booking and confirming the sale completion to the merchant. Spotit will then promptly transfer funds to the merchant for the sale. The platform will accommodate a wide range of e-commerce merchants to offer an omnichannel shopping experience.

Crat Silicon notes that Spotit stands out from its competitors by fostering collaboration among three key stakeholders: the Bank, the merchant, and the customer. By uniting these parties, the GNPL product ensures that each derives substantial value from the transaction. 

‘’Unlike other competitors who primarily focus on lending, Spotit acts as a technology provider, leveraging its expertise to streamline the process for all involved parties.’’ the company says. 

The target customer for Spotit is anyone with a bank account.

Addressing concerns about potential defaulters, Spotit emphasizes that the GNPL product targets existing customers within the banking ecosystem, ensuring a carefully considered scoring process. Furthermore, the facility will be collateralized, enabling efficient repossession in the event of default, with the cooperation of partner merchants. 

As part of its expansion plans, Spotit intends to initially roll out Spotit in Kenya, with future plans to extend its reach throughout Africa. 

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Nixon Kanali

Tech journalist based in Nairobi. I track and report on tech and African startups. Founder and Editor of TechTrends Media. Nixon is also the East African tech editor for Africa Business Communities. Send tips to

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