Kenyan fintech, FlexPay Technologies, is revolutionizing shopping by enabling consumers to afford products that were once out of reach. 🌟
FlexPay allows customers to shop at partner merchants, reserve products, and pay for them over time, all without additional costs. With a growing network of 600 partner merchants, FlexPay aims to expand its "save now, buy later" offerings. The startup is actively forming partnerships to enable users to book and pay for flight tickets and hotels, making it an all-encompassing savings platform.
FlexPay offers various products, including FlexPay Goals for users with specific savings ambitions, FlexPay Chama for group savings, and Mama Prime for maternity care savings. Customers can sign up through the app or partner merchants, both online and offline, and initiate payments with an initial deposit.
The "save now, buy later" model is different from traditional credit-driven buy now, pay later (BNPL) systems, as it doesn't charge interest and doesn't require a high credit score. FlexPay collects data to develop affordable and sustainable financing products.
So far, FlexPay has served over 200,000 customers and is set to expand to Uganda and Nigeria after raising $785,000 from investors, including the Acacia Group, LoftyInc, Expert Dojo, Google Black Founders Fund, and Renew Capital.
FlexPay's innovative approach aims to make shopping more accessible and financially sound for consumers in Kenya and beyond. 🌍💳
#Fintech #ShoppingRevolution #FinancialInclusion
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