Ugandan fintech startup Zofi Cash has secured US$1 million in pre-seed funding to double down on its commitment to ensuring that every day is a payday for salaried workers. The startup’s US$1 million pre-seed funding round has been raised from a single investor in Advancly, a business-to-business financing company with a presence in six African countries. Zofi Cash is its first foray into the Ugandan market. “We believe that for people and businesses to experience progress, the flow of money needs to be innovated continually,” said Lotanna Julian, co-founder and CEO of Advancly. The work that Zofi Cash is doing connects to our ultimate goal of building the rail tracks for a more robust financial ecosystem that delivers prosperity for all.”

Source: The North Africa Journal May 31, 2023 06:06 UTC