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Top FinTech Companies In Kenya

Financial evolution is now the thing. Of course, this has not left Kenya behind; financial technology companies are evolving in Kenya, targeting Kenya’s growing population, especially those who don't use banks. The fact that several people in Kenya don’t use banks; has favored the explosion of these financial technology companies.

In Kenya, financial technology companies are increasing day by day. So far, they seem to be a threat to the traditional banks as most people seem to be abandoning banks while concentrating more on financial technology companies and are becoming more popular in Kenya.

Financial technology companies in Kenya seem to be so convenient to the population. They are creating several financial solutions, such as mobile money, investing, lending, paying bills, buying insurance, and investing in the stock market. Online payment processing and doesn't require having a bank account. Fintechs have addressed more lagging gaps within Kenya’s banks and the financial sector as a whole.

According to MonkeyPesa, Fintech means financial technology which refers to the technology used in delivering financial services without using the traditional banking methods.

Top 10 Fintech companies in Kenya

1. Abacus

The 10-year experienced fintech licensed by Nairobi Securities Exchange as a data vendor is an agent for Genghis Capital Limited, Sanlam, and Old Mutual Limited. Abacus goes ahead to offer a better life to Kenyans by advising them to save and invest in places that give the best returns for their money.

Abacus fights for the rights of all Kenyans and wishes them to grow; therefore, they have quite several products and services they offer to Kenyans to help them grow and explore, for example; stocks(having shares in companies that you know and love), bills and bonds, unit Trusts, pension funds, foreign currency, and cryptocurrency. Abacus can deliver all those services incorporations with Kenya’s largest financial institutions.

2. BitPesa

The eight-year-old digital foreign exchange and payment platform was the first blockchain company licensed by the UK’s financial conduct authority. BitPesa leverages blockchain settlement to significantly lower the cost and increase business payments speed to and from frontier markets.

BitPesa operates in most African markets and has opened quite a several opportunities, payments, and trade between Africa and the rest of the world. BitPesa allows you to send money to several countries like; Nigeria, Ghana, Uganda, Tanzania, Senegal, the Democratic Republic of Congo, and many others using mobile money or banks. Currently, BitPesa has offices in several countries, including Lagos (Nigeria), London, Luxembourg, Madrid, Dakar, and many more. For further information and inquiries about BitPesa, you can contact them through their website;

3. Branch international

The credit-based service provider, Branch international, uses digitalized technology to provide financial services to people without bothering them and traveling long distances.

As their mission says, “to deliver world-class financial services to the mobile generation” indeed, branch international can offer you a loan anywhere so long as you have an account with them. Currently, branch international serves over 3,000,000 customers; they have had over 15 million loans given and over $350 million disbursed. Branch international has branches and office locations in Kenya, Tanzania, Nigeria, and India. Branch international was founded by Matt Flannery in 2015 and started its operations from Kenya for the local population, both those who own bank accounts and those who do not.

4. CarePay

Accessed to good health care is assured if there is a smart mobile health wallet with the power to care, and that is CarePay. CarePay developed a system to support people's health that can operate with a mobile phone; you can save, receive and send the money however it should specifically be for healthcare. Health care providers, patients/people, insurers are both connected under one system; thus, access to each other is fast and effective.

CarePay is a fully Kenyan established fintech with branches in Nigeria and Tanzania. CarePay employs over 250 people and is privately owned by Micheal Slootweg, who founded it in 2015. CarePay serves several industries inclusive of; finance, fintech, health care, hospital, and insurTech. CarePay won many awards and recognitions; for example, in 2018, CarePay was recognized as a technology pioneer by World Economic Forum. For more information, you can visit their website;

5. Chura limited

This allows Kenyans to have access to financial services, for example; airtime, mobile money from anywhere across the country. Chura limited money services include; Chura virtual card, PayPal to Mpesa, Mpesa to Paypal, cards to Mpesa, Chura remit, while airtime services include; buying airtime and mass airtime top-ups.

Chura limited was founded by Bryon Sitawa in 2013, a Nairobi university graduate, to be a solution rather than a problem. Chura limited is located at; C4DLab, the school of computing and informatics at Nairobi University, but for more information about Chura Limited, you can visit their website or email at;

6. Eastpesa

The best enjoyment comes when you have the best and cheapest online transaction company that offers the best forex rates in Africa, and of course, that is no other except EastPesa. With EastPesa, you can instantly send money and receive money; they don’t have to delay you. It's more interesting with scheduled payments because it’s an automatic sure deal; oh yes, it is and only with EastPesa.

Eastpesa operates from Kenya, Uganda, and Tanzania through Mpesa, Airtel Money, Tigo money, and Mtn mobile money. Eastpesa allows the use of cards as well, such as Visa, Paypal, and MasterCard. More clarity on services offered by Eastpesa; they do instant cash payouts, scheduled payments, save your contacts and buy airtime.

7. FarmDrive

This offers the best and cheapest credit support to smallholder farmers in rural Kenya. FarmDrive is a privately owned entity with over 50 employees founded in 2014 by Peris Bosire and Rita Kimani. FarmDrive supports rural smallholder farmers to access loans to help them buy what they need to expand their agricultural produce, for example, fertilizers and improved seeds.

The fact that many smallholder farmers are excluded, FarmDrive came up with a solution for them in 2014. It generates real-time credit reports for farmers to access loans from banks and fintech and agricultural input providers through mobile money.

This is how FarmDrive works

They collect expense and revenue data from farmers through SMS and combines it with satellite imaging, remote sensing technology, and alternative data points to create detailed yield estimates and assess credit risk. The reports allow credit providers to make informed lending decisions and easily reach rural clients, thus expanding financial access to smallholder farmers.

8. JamboPay

The only online payment dealer in Kenya that is trusted, efficient, fast, and secure is Jambopay. Jambopay allows its subscribers to send and receive money through their mobile phones by using the internet. You can pay your bills, shop goods, make purchases, pay school fees, offertories and donations using JamboPay.

The vision of JamboPay is “the heart and soul of e-payments and related financial services globally.” On top of allowing online payments through; Mpesa, airtel money, T-CASH, bank payments, visa, and MasterCard debit and credit cards. JamboPay also supports local social corporate responsibility through the JamboPay foundation in Kenya.

9. PesaPal

Over the years, Kenyans have trusted PesaPal to be the most efficient, secure, and smartest way of making online payments regarding shopping and offering payments for goods and services.

PesaPal allows payments using cards like Visa and MasterCard. Online payments by PesaPal can be made in three ways: In-store payments, Online Payments, and PesaPal mobile app; this gives a variety to users to choose what is convenient to them. You can use PesaPal to pay for your electricity bills, prepaid tokens, and TV subscription bills, buy airtime, event tickets, as well as food delivery orders, and above all those transactions, are done at a zero cost. Isn’t that pretty amazing! Just download the PesaPal app and get started today.

10. Pezesha Africa Limited

You can only uplift your small and medium enterprises if you are using Pezesha Africa limited. Pezesha Africa limited supports small and medium-sized enterprise owners to have access to capital financing for their businesses.

Pezesha (capital enabler) was established in Kenya in 2016. Since then, it has enabled small and medium-sized businesses to access working capital from banks and other financial lending institutions through a collaborative approach.

Pezesha offers small and medium-sized businesses access to people (investors), unified data, and capital. Pezesha has offices in Ghana and Nigeria. For more information, you can email them;

In conclusion, Kenya has quite several fintech companies, and it seems there are more that are yet to come. This provides Kenyans an opportunity to utilize the financial availability to grow their small businesses into large and flourishing ones.

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