Startups

ImaliPay secures undisclosed amount in pre-seed funding to expand African operations

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The gig and freelance economy are booming in this part of the world too. The coronavirus pandemic might have helped this kind of work model gain more traction in little time also.

One of the start-ups that leveraged the boom in this gig economy is ImaliPay, creating financial solutions for different members of the gig economy.

As of the time of this writing, the working model of the start-up is one that allows freelancers to save their incomes and access loans that they can pay back as at when convenient.

ImaliPay has now secured a pre-seed funding to help them scale better and faster across Nigeria and Africa as a whole. The funding also makes it possible for the brand to come up with new financial solutions and products for its target market.

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That said, ImaliPay might just be the one that brings serious credit history into our economy.

The more freelancers save their incomes on the platform – and the more they pay back their loans on time – the better their credit history. This allows them to access even better financial services that the firm provides in the future.

Even after the pre-seed round, we are yet to get details on how much the company got in total. What we know, however, is that the round was led by TEN13, an Australian Ventura capital. Also, part of the seed round were the likes of FINCA Ventures, Changeroom, Optimiser Foundation and Mercy Corps Ventures, among others.

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