Kuunda raises $7.5M to fuel its MENA expansion, starting with Egypt, as it scales embedded fintech solutions for Africa’s small businesses.
Tanzania’s fintech player, Kuunda, has raised USD 7.5 million in pre-Series A funding to accelerate its growth and enter the MENA market, starting with Egypt.
Also Read: Metric Secures Funding to Redefine SME Finance in MENA
The round saw participation from Portugal Gateway Fund, Seedstars Africa Ventures, 4Di Capital, Accion Ventures, Nedbank, and E4E Africa.
Founded in 2018 by Andy Milne, Sam Brawerman, and Morne van der Westhuizen, Kuunda is a UK-headquartered, Tanzania-focused B2B fintech company that provides working-capital and liquidity solutions to businesses. The startup helps partners design and embed credit products within their digital payment platforms, giving small businesses access to short-term financing tools such as:
- Airtime top-ups
- Mobile money float loans
- Stock financing
- Merchant cash advances
“We are unlocking access to finance for Africa’s productive class, the agents, merchants, and small businesses that are the backbone of these economies,” said Andy Milne, Kuunda’s Co-founder & Co-CEO. “We’re also helping consumers build resilience by accessing credit when they need it most.”
Kuunda Growth Plans: From Africa to MENA
With the fresh capital, Kuunda plans to deepen its partnerships across Africa, extending its services to e-commerce platforms and point-of-sale (PoS) networks. The company also intends to develop new financing tools that better serve micro, small, and medium-sized enterprises (MSMEs).
The most ambitious part of its roadmap is its expansion into the Middle East and North Africa (MENA), starting with Egypt.
The company’s choice of Egypt is strategic: the country boasts high mobile penetration and a USD 115.7 billion PoS market, making it an ideal launchpad for embedded finance growth. The company aims to partner with local e-commerce and PoS providers to integrate lending products directly into merchant and consumer platforms.
Beyond Egypt, Kuunda is eyeing Saudi Arabia, the UAE, and Morocco, marking a new phase of its vision to bridge financial inclusion across emerging markets.
Its MENA expansion is more than a growth story; it’s a sign of Africa-to-MENA fintech momentum.
As African startups begin targeting Middle Eastern markets, this move underscores how shared digital ecosystems and rising cross-border capital flows are shaping the future of financial technology across both regions.
Kuunda’s progress will likely encourage more African fintechs to explore MENA opportunities, building a connected, credit-inclusive digital economy from Dar es Salaam to Dubai.
