Tiers’ Post

Today, I want to share an inspiring story about Tiers and its transformative impact on the fintech ecosystem in Kenya. 🚀 In a landscape where 19 out of the 50 most-used financial apps in Kenya are loan apps with staggering average interest rates of 0.3% daily, Tiers is emerging as a beacon of hope for financial freedom. Many Kenyans find themselves trapped in a cycle of debt due to these high-interest loans, making it challenging to achieve their financial goals. But Tiers is changing the game! Here’s how: 1. Significant Savings Imagine saving money every month with no transaction fees! With Tiers, users can avoid the costs associated with traditional payment methods like M-Pesa, which charges fees for transactions. For instance, if you conduct multiple transactions monthly, you could save around KES 300 just from avoiding those fees. This is money that can be better spent or saved! 2. Empowering Merchants and Users Tiers not only benefits users but also empowers merchants by allowing them to post promotions directly within the app. This feature enhances visibility and encourages savings among consumers. Imagine getting exclusive discounts while shopping—it's a win-win for everyone involved! 3. Convenience and Security With Tiers, transactions are not only free but also secure. Users can transact without sharing personal details, reducing the risk of scams and fraud that often plague traditional payment methods. This level of convenience and security is crucial for fostering trust in the fintech ecosystem. 4. Financial Freedom By providing cheaper and more accessible services than traditional banks, Tiers helps users take control of their finances. It’s about doing more with your money—whether that means saving for a dream, investing in education, or simply enjoying life without the burden of high-interest loans. In conclusion, Tiers is not just another fintech solution; it’s a movement towards financial empowerment for all Kenyans. By leveraging technology to eliminate transaction fees and enhance user experience, Tiers is paving the way for a brighter financial future.Let’s embrace this change and work towards achieving true financial freedom! 💪💰 Jonatas K. frontforumfocus

R2's Bold Plan to Transform Latin American Lending R2, a Latin American fintech focused on lending tools for tech companies, has secured $59 million in funding, including $9 million in equity and a $50 million credit line from Community Investment Management (CIM). These funds will support R2's expansion in Chile and enhance its technological capabilities to redefine lending in the region. R2 provides lending infrastructure to tech platforms like Rappi, Clip, and inDrive, enabling them to offer financial services under their own brands. "Our aim is to build an invisible bank, standing behind Latin America’s tech platforms," said co-founder Roger Larach. Its revenue-based loan model, which ties repayment to sales, reduces delinquencies and adapts to market volatility. Since 2021, R2 has lent $85 million across Mexico, Chile, Colombia, and Peru, working with 13 clients. With fresh funding, R2 plans to improve underwriting and enhance AI-driven lending models to boost efficiency. The company is expanding its client base to include accounting service providers and ERP companies while preparing to raise additional debt for lending in Colombia next year. R2 is pursuing a bank license in Mexico, its largest market. This move would allow it to offer debit cards, improving data collection and customer retention while lowering funding costs. The strategy aligns with its goal to double lending by 2025 and break even, reflecting a broader fintech trend of focusing on profitability over growth. The region's fintech market is projected to reach $150 billion by 2025, driven by platforms integrating financial services. Digital payments in Latin America grew 40% in 2023, highlighting the demand for innovative financial solutions. R2’s scalable lending tools position it as a key player in this transformation. Lucia López Luis Rengifo Nimit Sharma Carlos Luis Rodríguez Monasterios Roger Teran Guillermo Bravo Lucas Mayorca #fintech #finance

Tala Eyes US Fintech Market: A New Era in Inclusive Finance Tala, a pioneering global fintech company, has unveiled ambitious plans to capture a significant share of the $10 trillion global fintech market. This announcement was made during the company’s 10th-anniversary celebrations held today at the Radisson Blu Hotel, Upper Hill. Jori Pearsall, Global Chief Business Officer at Tala, highlighted the company's strategy to target the Global Majority population, which comprises 52% of the world’s population and has been historically marginalized by traditional financial institutions. Over the past decade, Tala has established itself as a leader in providing financial services to underserved populations in emerging markets. Leveraging its innovative technology and data science capabilities, Tala has successfully bridged the financial inclusion gap, offering loans, credit, and financial education to millions. The company's next phase of growth will focus on the US fintech market, aiming to extend its reach and impact to the Global Majority. “The Global Majority population represents a vast and untapped market that traditional finance has overlooked for far too long,” stated Jori Pearsall. “Tala's mission has always been to make financial services accessible to everyone, regardless of their background or geographic location. By entering the US fintech market, we aim to provide equitable financial solutions that empower individuals and communities.” Tala's strategy for entering the US market involves leveraging its proven mobile-based lending platform, which uses alternative data to assess creditworthiness and provide instant loans. This approach has already seen significant success in markets like Kenya, the Philippines, Mexico, and India, where Tala has disbursed over $2 billion in loans to more than 6 million customers. The company’s focus on the Global Majority population is a response to the systemic exclusion faced by these communities. Traditional financial institutions often rely on credit histories and formal employment records, criteria that many individuals in these populations do not meet. Tala’s innovative use of smartphone data, including social connections, payment behavior, and other non-traditional metrics, allows it to assess risk more accurately and extend credit to those who are otherwise deemed unbankable. During the anniversary event, Tala also reflected on its journey over the past ten years. Founded in 2011 by Shivani Siroya, Tala began as a small startup with a mission to make financial services accessible to the unbanked. Today, it stands as a testament to the power of technology in driving financial inclusion and has become a model for other fintech companies worldwide. “Tala's success story is a reflection of our unwavering commitment to financial inclusion,” said Siroya. “As we look to the future, we are excited to bring our services to the US market and continue our mission of demo

Daily research from FinTech Global Latin American Lending Tech companies reported trend defying 6% increase in deal activity in 2023 In 2023, the Latin American lending technology sector saw a notable surge in deal activity, totalling 76 deals, marking a 6% increase compared to 2022. However, despite this heightened activity, there was a significant decrease in the total funds raised by Latin American lending technology companies which reached $491m, resulting in a notable 57% reduction from the previous year. QI TECH, which provide a range financial services products such as Lending as a service, had the largest Latin American lending technology deal in 2023 after raising $199m in their Series B funding round from General Atlantic. Essentially, QI Tech allows any company to act like a bank and offer financial products to its customers, employees or suppliers. For example, if a telecom company decides to offer payroll loans to its employees, “the telecom could partner with QI and act like a bank,” Mac Dowell said. Specifically, QI Tech’s offering provides digital registration tools, data validation, credit scoring, digital account opening, wire transfers, Pix, bank slips and credit underwriting for various sectors of the economy. It also powers a variety of use cases, including buy-now pay-later by e-commerce clients or the issuance of home equity and student loans by asset managers and FinTechs. Brazil was the most active Latin American Lending Technology country with 20 deals, a 26% share of total deals. This was followed closely by Mexico with 16 deals, a 21% share of total deals and Colombia with 15 deals, a 20% share of total deals. Brazil's National Monetary Council has implemented tighter regulations on the issuance of private debt securities associated with real estate and agribusiness financing. These securities, including CRAs, CRIs, LCAs, LCIs, and LIGs, have witnessed substantial growth in Brazil recently and offer tax exemptions to investors. However, only a fraction of these securities were found to be fulfilling their intended purpose of initiating new credit operations, prompting the government to anticipate a reduction in issuance volume. Real estate-linked securities like LCI and LIG amount to 460 billion reais ($93.57 billion), while LCAs, tied to agribusiness, also represent the same value. The changes entail stricter rules for eligible underlying assets in new issuances and aim to improve the effectiveness of public policy in supporting these sectors, according to a joint statement by the finance ministry and the central bank. #FinTech #Deals #LendTech Clara iCred - Crédito Inteligente Destacame Zenfi Nagro Crédito Agro Vixtra Prestamype

💥 Breaking Barriers in Microfinance with Fintech! . . . . Loan software's are changing the game for microfinance by streamlining processes and improving accessibility for borrowers. It’s all about making finance work for everyone! #LOS #LOSplatform #Loanoriginationsystem #Fintech #Microfinance #LoanSoftware #Munshify #ETPL

Breaking Barriers in Rural Lending with DBN Pay 🌾💳 Accessing loans in rural areas has always been a significant challenge. Traditional financial institutions often hesitate to lend, citing reasons like insufficient credit history, lack of proper documentation, or high operational costs. For small business owners and farmers, this barrier can mean missed opportunities, stagnant growth, and financial struggles. At DBN Pay, we’re changing this narrative. Through our B2B fintech marketplace, we empower rural distributors and merchants by providing them access to digital financial tools and banking services. Here’s how we help: Simplified Loan Access: Partnering with trusted lenders, we streamline loan application processes, ensuring rural businesses can secure the funds they need quickly. Credit Worthiness Tools: Our platform integrates credit assessment tools that help merchants build a digital credit profile, making it easier for lenders to extend credit. Wide Network Impact: With 1,250+ merchants and 5,482+ distributors, we’re building a network that connects underserved communities to critical financial services. One of our distributors recently shared their story. They struggled to secure a loan for expanding their business, even after multiple attempts with local banks. Through DBN Pay, they accessed the right lender, secured funding, and are now on track to double their monthly revenue. The future of rural lending is digital, accessible, and inclusive—and we’re proud to lead this transformation. 💡 Let’s connect if you’re interested in exploring how DBN Pay can support businesses in rural and underserved markets. Together, we can drive growth where it’s needed the most. #Fintech #RuralEmpowerment #LoanAccess #DBNPay #DigitalTransformation

As 2024 comes to a close, I can’t help but reflect on the incredible journey we’ve witnessed in the world of Digital Lending ⤵️ This year wasn’t just about growth—it was about transformation. 2024 in Numbers and Narratives: ▶️ Record Adoption: ▪️Market Projection: India's Digital Lending market is projected to reach $350 billion by 2025, growing at a CAGR of 25.6%. ▪️Digital Lending Growth:  - 10cr + Digital loans were disbursed in FY’24.  - India is #️⃣ 3 in Digital Lending adoption globally.  - Digital Lending in India has grown 25x in the past 10 years.  - Over 190 million users accessing digital credit products in 2023. ▶️ Financial Literacy Advancements: ▪️Financial Literacy Rate: As of June 2023, financial literacy in India stood at 62.6%, based on knowledge, behaviour, and attitude assessments. ▪️RBI Initiatives: The Reserve Bank of India expanded the Centre for Financial Literacy (CFL) project to 2,421 centres covering 7,225 blocks by the end of March 2024, aiming to enhance financial education across the country. ▶️ Technological Integration: ▪️AI and ML Adoption: The integration of Artificial Intelligence (AI) and Machine Learning (ML) in digital lending platforms has streamlined the loan approval process, reducing it to minutes in some cases. ▪️Blockchain Implementation: Emerging use of blockchain technology is enhancing transparency and security in digital lending transactions, fostering greater trust among borrowers. ▶️ Lessons from 2024: 💡 Transparency is Non-Negotiable: Borrowers are no longer passive participants—they demand clarity and fairness. Hidden charges and unclear terms have no place in the future of lending. 💡 Trust is the True Currency: Whether it’s a ₹5,000 emergency loan or a ₹5 lakh business loan, trust is what keeps borrowers coming back. 💡 Financial Inclusion is a Shared Goal: The real success of Digital Lending lies in serving every Indian—from the urban professional to the rural entrepreneur. ▶️ The Road Ahead: What 2025 Holds ▪️Scaling Financial Inclusion: Expanding credit access to underserved communities with a focus on women entrepreneurs, farmers, and first-time borrowers. ▪️Innovating Responsibly: Using AI and blockchain to improve underwriting, reduce fraud, and make credit more affordable, while ensuring data privacy and ethical practices. ▪️Stronger Partnerships: Collaborating with Neo-banks, NBFCs, and government initiatives to create tailored financial products for specific needs like healthcare, education, and small businesses. As we step into 2025, let’s make it the year we don’t just lend money—we lend possibilities. Here’s to a year of innovation, responsibility, and transformation in the world of Digital Lending. Found this useful? Repost & share with your connections. Follow me Manish Jeloka for more. #DigitalLending #FinancialInclusion #NewYearGoals #FinTech

Are you curious who's propelling California's Micro-lending scene forward in 2023? Feast your eyes on our latest piece! 🔥 https://lnkd.in/eVVpYNBf Featuring: Microfinance at Berkeley, thriving in the realm of microloans, marketplace solutions, and consulting for small businesses. New Wave Lending Group, raising the bar as a financial and lending services provider. Oakridge Capital Advisors, Inc, innovating in commercial lending, personal finance, microloans, and private financing. Vemanti Group, Inc. founded by Tan Tran, revolutionising the financial needs of small businesses with their eclectic product portfolio. RidgeStone Capital, leading in micro-lending, commercial & personal financing and equipment financing. 365 Home Lending, specialising in mortgages, personal & commercial lending, housing finance, and micro loans. Laguna Ventures LLC, founded by Shelly Bennecke, a dynamic incubator in the angel investing and consulting world. Cash and Title Loans 123, an alternate finance solution provider focused on short-term lending and personal loans. Need Cash Now, serving those in need of cash capital support. Lenme (Techstars ‘23), founded by Albert Mansour and Beshoy Louka, a unique peer-to-peer lending platform that's disrupting the small amount loan market. Synergy Direct Funding, offering dynamic solutions through their business micro-loans, merchant cash advances, equipment leasing, credits, and working capital services. Achievement Advantage, carving their niche in payday and title loans, and micro-lending business services. Juvo, founded by Steve Polsky, developing mobile identity scoring software to establish financial identities. Umba, founded by Barry O'Mahony and Tiernan Kennedy, redefining digital banking for the African market. Kudos to all these startups shaking the financial sector with their innovative Micro Lending solutions! #MicroLending #Startups #Innovation #Finance #California Launching or growing a financial startup? Stay ahead of your competition with FinMag!

In response to ongoing financial challenges, Credmex has launched initiatives to provide accessible microloans to underserved communities, offering loans from MX$1,000 (US$50) to MX$30,000 via their user-friendly mobile app. With 70% of users being from low to moderate-income backgrounds, Credmex aims to simplify access by removing traditional banking barriers like collateral and credit history. Read the full article on Mexico Business News! #FinancialInclusion #Microloans #Fintech #Credmex #Mexico #EconomicEmpowerment #FinancialLiteracy