Congolese fintech startup Tuma has secured $500,000 in funding, marking the largest investment round for a fintech company in the Democratic Republic of Congo (DRC) to date. The funding round involved participation from Visa, Visible Hands, and the Social Justice Fund. Tuma, founded by Elijah Lubala and Mpilo Makae, aims to promote financial inclusion in the DRC by offering a digital solution that enables merchants to accept card payments on their mobile phones. The startup utilizes software point-of-sale (POS) technology, allowing customers to make card payments by tapping their cards on the back of the phone. Tuma plans to use the funding to expand into new markets and enhance its product offerings. The investment comes as the DRC government introduced a startup act in 2022, which aims to attract investment and support the growth of tech innovators and entrepreneurs in the country. The funding received by Tuma signifies positive progress in the DRC's tech ecosystem and its efforts towards digital transformation.

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