Meet the First Cohort of the FintecHub Program
Benefactors is a Rwandan tech-based factoring firm, providing tailored working capital solutions to SMEs. We deliver an affordable cash advance to firms that have received a confirmed invoice from a reputable institutional customer. We have developed proprietary technology to manage origination, control risks, provide post-disbursement support and ensure cost-effective repayments.
Our product is factoring, i.e., advances on pending invoices. Many small companies struggle with long payment terms from their B2B buyers, which puts pressure on their cash flows. We offer up to 70% advance on the invoiced amount, allowing our clients to continue running their business uninterrupted by delays in invoice payments. Once the buyer does pay, they pay us directly and we then transfer the remaining 30% to the client, minus our fees.
Exuus Ltd is a FinTech Startup based and incorporated in Rwanda whose vision is to inspire resilience and enable communities to achieve their optimal satisfaction by positively impacting the future. We plan to achieve our vision by creating ideal products in every possible way, products that are easy to use, cost-effective, and powerful.
- SAVE – An app for informal collective saving schemes, known as saving groups, SACCOs, Ibimina, VSLAs, Chamas, Tontines, stokvel, etc. SAVE offers a digital collective and decentralized ledger. SAVE brings both efficiency and simplicity to managing collective saving schemes operations.
- SAVE PLUS – The first crowdfunding app developed in Rwanda and whose primary focus is to allow users to crowdfund from non-smartphone users across Africa through USSD.
Hepta Pay Ltd is a fintech startup incorporated in both Rwanda and Kenya. The company’s origins trace back to a data analytics company, Hepta Analytics, whose founders – expatriates in Rwanda – sought to solve a personal finance problem. It soon emerged that the problem of “simple, fast, and secure cross border micropayments” resonated with many others. The product officially went live in Rwanda in 2020 with a bespoke expansion agenda to swiftly cover the East African region.
Hepta Pay is a product that interfaces card payments with mobile money accounts. The product enhances forex inflows and enables new payment possibilities for banked customers paying via debit or credit card, to interact with unbanked merchants on their mobile money wallets. The service is currently being piloted in Rwanda with utility and business payments. The platform will ultimately enable convenience amongst African residents who will be able to shop, dine and pay across the continent using their existing digital wallet.
Raisin is a payments aggregator helping large and small businesses access digital payment APIs (mobile money, Visa, and MasterCard) we combine leading technologies with creativity and intelligence to produce points of sale, unlike any others on the market. It helps their clients to increase sales and loyalty with a modernized, optimized payments experience. Raisin has been working on an e-ticket solution for events and transport as an entry point and our, penetration on the market is quite amazing. Therefore, we are moving forward to retail, solution for (SME) Small and Medium Enterprises.
Raisin processes more than 2 million digital transactions per day and 20M+ cash transactions. We have built a ticketing platform for selling and buying event tickets. Moreover, we developed a payment system integrated into the upcountry transport system within float management and cash distribution. On top of that, we provide API Payment to different corporates. In order to continue the path that leads us to be at the forefront of Africa, we are launching a retail payment management system that will be consumed by SMEs and big enterprises. This system is expected to change in the modern way of payment using contactless bank cards, cash management, and accounting module integrated.