Payments Demand Shapes Craft Silicon’s Expansion Path
With gaps left by failed startups, Craft Silicon’s expansion is gaining ground in logistics and enterprise services
Craft Silicon is expanding its footprint beyond ride-hailing, building a payments and banking software business that now spans more than 30 markets across Africa and Asia. The company, best known locally for Little, says enterprise software and digital transactions are driving a growing share of its cross-border activity.
Founder and chief executive Kamal Budhabhatti said uptake of mobile-led financial services remains stronger in African markets than in parts of Asia such as India and Indonesia, shaping where the firm prioritises expansion. The company is using that demand pattern to anchor growth from East Africa while continuing to serve clients in multiple regions.
The shift comes as Craft Silicon balances different cost structures across its portfolio. Products like Little require significant upfront spending, particularly in marketing, which the firm says delays entry into new countries until existing operations generate profit. Current ride-hailing markets include Kenya, Uganda, Tanzania and Ethiopia.
Budhabhatti said competing with global platforms such as Uber and Bolt has not altered the company’s approach to pricing and positioning. “We understand the local market well… our prices are much lower,” he said, adding that the firm is open to acquisitions as it builds scale.
Alongside ride-hailing, logistics has emerged as a core revenue stream after its rollout in 2022. The service now connects deliveries ranging from motorcycles to heavy trucks, contributing 30% of platform activity as demand rises across its operating markets.
The company is also entering tourism-linked payments through TouristTap a new product designed to address spending barriers faced by visitors. Budhabhatti said limited card acceptance and lack of local mobile connectivity often force tourists to rely on cash. “If it is convenient for tourists to do the transaction, their spending will also go up,” he said.
The product is scheduled for rollout in Kenya before expanding to Uganda, Tanzania and Ethiopia within 3 months, with West Africa under consideration later in the year. Market selection is tied to the prevalence of mobile wallets, with the company favouring economies where digital payments dominate over card usage.
On regulation, Budhabhatti said the environment in Kenya and across Africa supports innovation, though he noted the dominance of M-Pesa can limit room for alternative systems. He said broader participation in the payments ecosystem would sustain competition and product development.
Craft Silicon’s strategy reflects a broader attempt to distribute risk across multiple digital services, combining mobility, logistics and financial technology into a single operating model as it scales internationally.
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