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Kenyan Fintech Startup Raises Funding To Scale Further

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Startups

Tech World

Feb. 8, 2021, 4:24 a.m.

Popote Pay, a Kenyan fintech startup, has announced an undisclosed amount of funding from Lagos-based GreenHouse Capital to assist the company scale further.

Founded in 2013 by Sam Wanjohi, Popote Pay is a digital platform that allows businesses to manage their day-to-day payments such as budgeting, expenditure and accounting as well as checking and linking businesses to bank accounts.

Sam Wanjohi, explained how the platform is used to conduct business smoothly, “Popote Pay allows businesses to link and payout of multiple bank accounts or mobile money wallets. Completed transactions are stored alongside their notes, attachments, authorisation history, and accounting general ledger meaning the accounting part is also done. At the click of a button, records can be retrieved for use in preparing management or audited accounts. The entire process is seamless”, he said.

He added that the high rate of failure of African businesses is as a result of poor expense management or internal funds misappropriation.

“The high rate of failure of African businesses is l large as a result of poor expense management or internal funds misappropriation. With PopotePay employees can be empowered without loss of oversight or controls.”

He also revealed that other side benefits Popote Pay stands to gain from GreenHouse Capital includes, access to knowledge that exists in the ecosystem and a quick expansion of the company into the Nigerian market.

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Dorcas

Dorcas Benewaa Author

Dorcas is an upcoming journalist. She loves the creative arts and loves to write about startups, digital arts and issues in the tech sector.

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