Nairobi, 13 May 2025—At a private gathering hosted by the Norwegian Ambassador in Nairobi, Wakandi officially launched its Series A capital raise, marking a bold new chapter in our mission to digitise and integrate Africa’s vast informal financial sector.
This moment signifies more than the beginning of a fundraising round. It reflects our maturity as a company and the scale of the opportunity ahead.
A Journey Rooted in Real Problems
When Wakandi first took shape, our goal wasn’t to reinvent finance from scratch. It was to solve something far more nuanced: how to bridge the gap between informal savings and credit groups—used by tens of millions—and the formal financial system.
Across Kenya, Uganda, and Tanzania, these informal groups (like SACCOS and MFIs) are where people save, borrow, and build community resilience. However, they’re hindered by manual processes, a lack of transparency, and limited access to digital tools.
Wakandi’s platform—CAMS—was built to fix this. And it’s now fully operational in all three markets, licensed by central banks, integrated with banks and mobile money providers, and onboarding thousands of new users each month.
Why Series A, Why Now?
With our infrastructure in place, partnerships signed, and revenue streams activated, we’re ready to scale. The Series A round will allow us to:
• Accelerate user acquisition and group onboarding
• Build new and modern way for our customers to access affordable credit
• Deepen technical integrations and expand to new markets
The round is led by EY South Africa, with Richard Pulford, Head of M&A Africa, as the lead partner. EY’s mandate is clear: engage institutional and strategic investors who share our long-term vision and understand the structural transformation underway in African finance.
An Invitation to the Future
Below Terje Width, COO of Wakandi Group, are being interviewed by the press about the capital raise.
Wakandi is not just building software—it’s building the rails for a more inclusive financial system. With at least 26 contracted addressable markets through existing partner agreements and growing revenue from credit, insurance, and transaction-based services, we believe the upside is substantial and measurable.
To those who have followed our journey, invested in our early rounds, or are just discovering us now: this is the moment to step in.
The event was covered locally in the evening:
The series A is now live. The future of finance in Africa is being written. Let’s build it together.
– Espen Kvelland, CEO of Wakandi Group
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