Asilimia, a Kenyan fintech, raises $2 million in a pre-seed round with plans to extend loans to MSMEs and expand in East Africa
According to data from Kenya’s bureau of statistics, informal businesses power the country’s economy, accounting for 33.8 percent of GDP and 83.4 percent of total employment outside of small-scale agriculture. These businesses contribute significantly to the country’s economy, but they are underserved by traditional banking institutions, making it difficult for them to obtain the financing…