Tanzanian fintech startup Tunzaa, known for its groundbreaking payments API that enables e-commerce transactions to be processed in installments, has secured funding from Warioba Ventures and local angel investors Andrew Kudoja and Irene Madeje Mlola. The undisclosed funding will fuel Tunzaa’s expansion and further its mission to bridge financial gaps in African markets.
Founded in 2021 by Ng’winula Kingamkono, Tunzaa is addressing a critical challenge in e-commerce for African consumers, many of whom lack access to debit or credit facilities for immediate purchases. The startup offers flexible installment payment options while fostering a culture of savings through its gamified incentives. By allowing users to save towards specific goals, whether purchasing smartphones, household appliances, or educational tools, Tunzaa is helping consumers achieve aspirations sustainably and affordably.
This investment aligns with Warioba Ventures’ vision of empowering Africa’s future through technology-driven solutions. In a statement, Warioba Ventures noted:
“This investment underscores our commitment to fostering solutions that address the unique challenges of African markets while creating a ripple effect of financial empowerment and economic growth. We believe Tunzaa is poised to redefine how payments and savings are integrated into the e-commerce experience, setting a new standard for financial inclusion and innovation.”
Read also: Four African Startups Receive Strategic Investment from Visa.
Tunzaa’s savings-oriented platform, enhanced by gamified features, promotes economic empowerment by encouraging financial discipline among users while democratizing access to essential goods. The startup’s scalable solution is well-positioned to transform how payments and savings are integrated into the broader e-commerce landscape across Africa.
With its growing foundation and backing from forward-thinking investors, Tunzaa HQ is set to become a key player in driving financial inclusion, innovation, and economic accessibility in Africa’s fintech and e-commerce sectors.
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