awamo

About:

Mobile banking & business platform for microfinance

Website: https://awamo.com

Twitter/X: awamo_group

Top Investors: FinLab, KFW DEG, Jochen Berger, Bernd Wendeln

Description:

awamo offers a mobile, biometric core banking system (SaaS) to microfinance institutions in sub-Saharan Africa. It is affordable, easy-to-use, and platform independent. Using this platform 300+ institutions serving 450,000+ consumers are being connected. Going forward, they will be able to additionally sell partner products & services, generating additional revenue and fostering local economic growth. The market awamo serves accounts for more than 600m individuals in sub-Saharan Africa – only considering awamo’s core services. In awamo's target markets, there are already more than 16,000 MFIs operational with more than 210,000 staff serving 53m+ consumers. Besides, the microfinance sector grows at >10% p.a. and Africa’s population is about to more than double to 2.4bn people until 2050. Currently, Awamo serves 300+ institutions with 450,000+ consumers in Uganda and Kenya. Month-over-month more than 150,000+ transactions are being processed, moving more than 7m EUR through the platform.