Investment firm Acasia Ventures allocates $2.5 million in funding towards startup Credable
Credable, a B2B2C digital banking platform, has secured a significant investment of $2.5 million in a seed round led by Acasia Ventures. This funding will be utilised to accelerate the expansion of Credable's digital banking platform, with a focus on enhancing technology infrastructure, expanding customer acquisition, and deepening market penetration in the B2B2C space.
The strategy involves improving platform capabilities, scaling operations, and forming new partnerships to grow across regional markets where demand for seamless digital banking solutions is increasing. The investment, primarily, will be used to support entry into new markets such as Nigeria, Egypt, and Pakistan.
Credible's CEO, Nadeem Juma, expressed the platform's mission to improve the livelihoods of underbanked customers by providing banking services within the channels they already use. This approach aims to make financial services more accessible and convenient for those who may not have had access to traditional banking services.
The investment from Acasia Ventures, a venture capital firm that typically focuses on Southeast Asia, may also indicate a strategic focus on this region. With this funding, Credable plans to launch its product pipeline across Tanzania, Uganda, and Kenya.
In addition to market expansion, the funding will be used for product development and innovation. This includes enhancing API integrations, improving user onboarding, and upgrading digital tools for business clients and consumers. Credible also plans to grow internal teams for technology, customer support, and compliance to sustain larger volumes of users and transactions.
Partnerships and brand building are another key area of focus. Credible aims to collaborate with financial institutions or fintech partners to widen service reach and build credibility. A consistent branding and messaging strategy will also be employed to support growth.
As Credable continues to grow and evolve, it will be interesting to see how these strategies unfold and how they contribute to the platform's mission of making financial services more accessible to the underbanked.
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