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Umba, Nigerian Digital Bank Opens Office in Kenya
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In order to grow across the continent, Umba, a digital bank for emerging countries that has only previously operated in Nigeria, has begun operations there.
Umba, a digital bank, has launched its services in Kenya after acquiring a controlling stake in Daraja Microfinance Bank. Umba provides a range of financial services including current accounts, billpay, loans, and savings accounts, using the private data collected by its customers to offer credit products and generate revenue. The bank is backed by fintech investors including Monzo founder Tom Blomfield, NuBank executives, and Lux Capital. Umba aims to simplify financial services for small businesses and customers by offering clear and affordable tools for managing their finances. The executive team has recently expanded with the addition of Peter O’Toole and Dan Watts.
Read the full article on TechTrends.Africa
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