Kenyan Fintech Powerhouse Leja Processes $2 Billion in Business Transactions in 2024
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Kenyan fintech startup Leja has achieved a significant milestone, processing $2 billion in B2B payments since launching its service earlier this year.
This remarkable growth, fueled by a 30% month-over-month increase, showcases the increasing demand for digital financial solutions in Kenya.
Leja’s innovative app empowers MSMEs to transition from traditional pen-and-paper methods to digital record-keeping, seamlessly integrating with mobile money platforms. By streamlining operations, reducing payment fees, and tracking sales, MSMEs can improve efficiency and profitability.
Additionally, the app’s data-driven approach enables MSMEs to build comprehensive credit profiles, addressing the long-standing challenge of accessing affordable financing.
Since its inception three years ago, Leja has onboarded over 1.4 million MSMEs, with a significant portion being women- and youth-led businesses.
These underserved sectors have traditionally faced obstacles in securing credit and managing high transaction costs.
Tekwane Mwendwa, Co-Founder and CEO of Leja emphasized the impact of local solutions tailored to specific market needs.
In his words,
“We’re proud to address the challenges faced by MSMEs, including limited access to affordable payment options and working capital financing. By leveraging our innovative data-driven approach, we aim to unlock significant transaction volume and revenue potential.”
“Our mission is to bridge the substantial credit gap that hinders MSME growth,” Tekwane concluded. “We’re committed to delivering accessible and scalable solutions that empower micro-SMEs and provide strong returns for our investors.”
Leja is bridging the gap between MSMEs and financial institutions. By consolidating the business data of MSMEs, the company allows the first time financial operators to derisk and access this massive untapped market.
Leja’s ambitious expansion plans include entering two additional East African markets by Q2 2025. By expanding its reach and leveraging its innovative solutions, Leja aims to drive revenue growth while advancing financial inclusion across the region.
