Pezesha is excited to be participating in the upcoming Digital Financial Services Innovation Lab (DFS Lab) one-week Bootcamp in Sri Lanka.
DFS Lab is an early-stage incubator that supports high potential entrepreneurs refine, grow and launch fintech businesses in developing countries.
Focused on empowering communities in sub-Saharan Africa and South Asia, DFS Lab delivers mentorship and strategic advice to early-stage start-ups pioneering transformative business models that empower the poorest, profitably, and at scale. In addition, DFS gives highest quality entrepreneurs access to extensive networks and relevant, world-class advice on how to build successful ventures that change the way low-income consumers interact with digital financial services. DFS Lab also conducts technology research to advance innovative fintech solutions that will move the industry forward.
DFS Lab focus and goals (as stated above) aligns with Pezesha’s mission of empowering low income borrowers looking to access inclusive and affordable financial services. Pezesha’s innovation comes in linking local lenders with opportunities to fund low income borrowers businesses with loans. The underserved low income borrowers have limited to no access to affordable credit, much less a credit score. Through Pezesha’s sophisticated integrated credit scoring model, Peer to Peer payments and offerings to the local investing community, we are able to give the low income borrowers their first step on the financial ladder.
DFS Lab is housed at Caribou Digital, a specialist in building inclusive digital economies, and is supported by the Bill & Melinda Gates Foundation.
Subscribe to our newsletter (on our home page) to get future updates about our product and the lessons we bring back home with us. In addition to learning from the other great Fintech entrepreneurs from India, Canada, Ghana, and Nigeria who will also be participating in the bootcamp.
Watch here what our borrowers are saying about us http://pezesha.com/?page_id=1419
Pezesha– The leading peer-to-business micro lending marketplace in East Africa was honored to be among the top five finalists in the recent Chivas Regal Venture $1M Fund competition that received over 200 Kenyan applications in this year’s contest. “The Venture” is a $1million annual fund and global search to reward exceptional startups that use business innovatively to transform communities.
We at Pezesha believe that our success can only be defined and measured by the extent of our social impact. And how we transform communities is through the use of credit analytics to empower credit-constrained micro business and low income social groups in the retail and distribution sector with affordable credit that not only boosts their returns and investment opportunities but also improves their livelihoods and living standards.
According to a recent 2016 report by McKinsey & Company, two billion individuals and 200 million businesses in emerging economies today lack access to savings and credit, and even those with access can pay dearly for a limited range of products. New emerging models such as peer-to-peer financing have the potential of providing inclusive, democratic and affordable financial services, consequently causing positive change. This is precisely where the heart, vision and purpose of Pezesha lies – From the People, For the People. From Kenyans, For Kenyans. From Africans, For Africans.
Mobile technology is at 88% penetration in Kenya alone and at 46% of the continent’s population across Africa; making Africa the second-largest – but least penetrated – mobile market in the world. We believe in leveraging the power of mobile technology to digitize and bring long term benefits of digital finance to the underserved low income borrowers by not only transforming their lives but also transforming economic prospects of emerging economies. And with the continued support from the Chivas network, we get to be steps ahead in making this dream a reality. Ultimately, this may be our greatest contribution to also impacting the generations to come.