A Development Finance Institution and a Commercial Impact Investor based in Europe and Asia, has successfully provided bridge funding to Flow Global, a Fintech company.
Flow Global offers distinctive digital growth capital solutions to small retail merchants in Uganda and Rwanda.
In last year November, the first Fund was acquired, while the most recent was March this year. The funds will put Flow Global on a course to achieve international profit by the middle of 2023 as its expansion progresses.
The fintech startup’s main customers are merchants who proffer agency banking and mobile money services, those who do not have e-momey float to meet the demands of customer.
The company’s present instituted markets, Uganda and Rwanda, are residence to roughly 403 000 mobile money business owners with a number which adds up consistently.
They currently provide service to more than 50 million users and it is estimated that this can increases to more than 605 million in sub-saharan Africa which is the target market.
The cutting-edge Fintech business enables merchants on several mobile money ecosystems to get float advances. This float advances makes it the only float lender that is platform neutral by design.
Additionally, it uses a combination of its own manufactured advanced technology, the Flow Liquidity Engine (or “FLE”). The FLE is the centerpiece of Flow’s operations, reflecting the company’s incorporation of microfinance lessons into an inclusive Fintech operation. This feature involves direct conversation with clients to enact the highest standard of KYC.
The recent capital raise by Flow Global will support its pipeline conversion and enable it expand its float advance book.