Finclusion Group consolidates all its brands and products, and is now known as Fin
Finclusion Group Limited (“Fin”) has successfully undergone a brand unification, consolidating all its separate brands and products across Africa into one brand, and is now simply known as Fin.
The company has taken this step to consolidate its footprint across Africa under one identity, thereby highlighting its ambition to be the leading international neobank across Sub-Saharan Africa.
Fin has developed a neobanking platform product range, which focuses on creating value for employers, employees and consumers, whilst addressing the continent’s persistent credit gap. Its offerings include its Earned Wage Access product which gives employees access to earned and future wages through an employer distribution model; its SME Finance module, which provides SMEs with secured working capital loans and asset finance; its BNPL solutions for its end customers and its Transactional Banking product which offers banking cards, savings accounts and insurance products to customers within its ecosystem.
The company’s businesses across markets will now be known as Fin Kenya (formerly known as TrustGro), Fin Tanzania (formerly known as Fikia Finance) and Fin South Africa, whose product offerings include SmartAdvance by Fin, NiftyCover by Fin, e-Fin, MediFin and NiftyCredit by Fin.
In addition, Fin has successfully raised an additional USD 2 million in equity finance from existing shareholders. Verdant Capital is currently raising debt and equity funding for Fin.
Finally, Fin supports adjacent businesses in the space through its venture portfolio. Fin Ventures is focused on funding entrepreneurs and startups in Africa within the credit and banking space. These ventures are independently run but can benefit from the company’s expertise. One such venture is mTek-Services, a leading digital insurer in Kenya.
Timothy Nuy, Co-Founder and Co-CEO of Fin, says: ‘A team with proven experience in the tech space has created Fin. I am delighted that our platform can extend this expertise and useful financial tools to our partners.’