What is the best practiceto raise funds for a new Fintech in Africa with a large and impacted solutions in solving poverty & lack of entrepreneurship?

Poor people constitute the vast majority of the population in most developing countries. Yet, an overwhelming number of the poor continue to lack access to basic Financial services


The biggest challenge is not finding money but finding viable livelihood options for the poor. I suggest you study Prof. Yunus work. First work with the poor and let them come up with local opportunities for generating income. Take a few viable cases and fund them. Once these ventures are viable, you have a proven business plan for the investors. Why investors? You may even go through the regular banking system. Your margin will be what you charge extra above the lending rates. VC funding will put extra pressure on you to charge very high rates and it can be regulated by the govt, as it has happened in India. Such high rates also defeat the core purpose of your business. All the best.

Answered 7 years ago

You can approach Friends, Family, Incubators, Accelerators, Angel Investors & VCs depending upon the stage of your startup. Feel free to setup a call to learn more.

Answered 6 years ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2024 LLC. All rights reserved.