This Fintech Is Powering Billions in Consumer Loans Across Africa Quietly

Africa’s consumer lending market is booming but not everyone knows who’s behind the scenes making it happen. From Nigeria to Kenya, millions of people are accessing loans through their phones every day. Platforms like FairMoney, Carbon, Safaricom, and M-KOPA dominate the conversation, but beneath them are unseen engines quietly powering the flow of credit.

One of those engines is Kuunda, a fintech infrastructure provider that has quietly enabled over $3 billion in loans since 2018, shaping the backbone of Africa’s digital lending revolution.

Founded by Andrew Milne, Sam Brawerman, and Morne van der Westhuizen, Kuunda operates behind the scenes as a business-to-business-to-consumer (B2B2C) embedded finance company. Rather than lending directly to consumers, Kuunda powers the liquidity infrastructure that enables others, agents, small businesses, and financial institutions — to offer real-time loans seamlessly.

We’re a media-shy company,” says Andrew Milne, Kuunda’s Co-founder and Co-CEO. “Our focus has always been on creating value, not visibility.”

Building the pipes of African lending

In Swahili, “Kuunda” means “create,” and that’s exactly what the company does — it creates the infrastructure for lending. Its proprietary liquidity API and credit scoring algorithms allow partners to assess risk, disburse funds, and manage repayments instantly.

The company’s mission is clear: bridge the liquidity gaps that often hold back small businesses and agents across emerging markets. By doing so, Kuunda supports the people who form the foundation of Africa’s financial ecosystem.

Among its products are Hapa Cash, a one-day loan facility that funds immediate operational needs such as airtime and fuel purchases, and Kazi Cash, a medium-term product designed for small business growth with repayment options of seven to fourteen days.

One of Kuunda’s earliest success stories was with M-PESA Tanzania. Initially, Kuunda helped mobile money agents access float to serve customers better. Over time, the company introduced new products, expanding from 600,000 users with a 7.8% non-performing loan rate to 1.8 million users and an improved NPL of just 1.9%.

Today, Kuunda powers over 85% of all loans disbursed by M-PESA Tanzania — a quiet but extraordinary achievement that showcases its impact. Its model has since scaled across five African countries and into Pakistan.

A model built for scale

Kuunda’s B2B2C model avoids the costly direct-to-consumer route. Instead, it partners with organisations that already have scale and trust in their markets — telecom operators, digital lenders, and payment providers. These partners handle user engagement while Kuunda provides the intelligence and liquidity behind the scenes.

Because it works through licensed financial partners, Kuunda doesn’t need its own local financial licences or balance sheet. Banks provide the lending capital; Kuunda provides the infrastructure and data to make it efficient and low-risk.

When we enter a new market, we don’t need a licence,” Milne explains. “The bank provides the balance sheet, and we provide the technology.”

Sustainable growth through partnerships

Kuunda’s business model is simple but powerful. It shares revenue and risk with its partners, absorbing integration and operational costs to make entry frictionless. Once a financial product launches, revenue is shared between Kuunda, the bank, and the enterprise partner aligning incentives across the value chain.

This model has caught the attention of investors. The company recently closed a $7.5 million pre-Series A round, surpassing its original $3 million target. The round saw participation from Portugal Gateway Fund, Seedstars Africa Ventures, Accion Ventures, Nedbank, 4Di Capital, and E4E Africa.

“Kuunda’s data-driven, behaviourally based credit scoring gives banks and capital providers the confidence to serve the informal economy at scale,” said Erik Van Veen, Partner at Portugal Gateway Fund. “They’re building the inclusive credit rails Africa needs.”

Beyond credit: the future of inclusive finance

Kuunda’s next frontier goes beyond lending. With support from the Gates Foundation, the company is developing a WhatsApp-based financial literacy bot to teach users how to make informed financial decisions. It’s also laying the foundation for savings products, expanding from credit-only to full-stack financial infrastructure.

Milne says part of the new funds will be used to enter seven additional markets, strengthen the team, and expand product capabilities all without raising extra capital.

As Kuunda continues to grow quietly, its influence on Africa’s digital finance landscape is undeniable. While many fintechs compete for the spotlight, Kuunda remains the invisible engine driving inclusion — proof that sometimes, the most powerful innovations are the ones you never see.

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