Kenya-based Wasoko Sokowatch Raises $125M in Series B Funding

Kenya-based Wasoko Sokowatch Raises $125M in Series B Funding

Kenya-based fintech startup Wasoko Sokowatch, a mobile payments innovator, recently announced the closing of a $125 million Series B funding round. This new funding round was led by Prosus Ventures, bringing the total amount of funding raised by Wasoko to $161 million. The new funding will be used to aid Wasoko’s mission to increase access to financial services, expand its product offering, and further innovate its mobile payments platform.

Overview of Wasoko Sokowatch:

Wasoko Sokowatch is a Kenyan fintech startup based in Nairobi and founded in 2018. It is a mobile payments innovator that helps unbanked and underserved customers access financial services. Wasoko has developed a mobile app that allows customers to pay for goods and services without cash, as well as access micro-loans and savings accounts. Wasoko also provides an eCommerce platform that allows customers to conduct transactions and access credit.

What is a BNPL?

A Buy Now Pay Later (BNPL) system is a type of financing that allows consumers to purchase goods and services and pay for them at a later date. This type of financing has become increasingly popular and is now offered by many large retailers. It is a convenient way for customers to purchase items without having to pay for them upfront.

What is Series B Funding?

Series B funding is a type of venture capital investment. It typically follows a successful Series A round of funding and is used to help a company grow and scale its operations. It is usually used to expand the product offering, hire more staff, or develop new technologies. This type of funding is typically provided by venture capitalists or large investment companies.

Wasoko Sokowatch’s Series B Funding Round:

Wasoko recently closed a $125 million Series B funding round, led by Prosus Ventures. This new funding brings the total amount of funding raised by Wasoko to $161 million. The new funding will be used to help Wasoko expand its product offering, hire more staff, and develop new technologies. It will also be used to aid Wasoko’s mission to increase access to financial services and further innovate its mobile payments platform.

Conclusion:

Kenya-based Wasoko Sokowatch has recently closed a $125 million Series B funding round. This new funding will be used to help Wasoko expand its product offering, hire more staff, and develop new technologies. It will also help Wasoko’s mission to increase access to financial services and further innovate its mobile payments platform. The funding was led by Prosus Ventures, bringing the total amount of funding raised by Wasoko to $161 million.

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