Zambian neobank Lupiya has successfully secured US$8.25 million in Series A funding to scale operations in its home market and in new ones. Founded in 2016, Lupiya works to bridge the financial inclusion gap by offering easy-to-use, technology-driven financial solutions to the unbanked and underbanked populations in Zambia. Its US$8.25 million Series A round was led by Alitheia IDF Fund, with substantial participation from INOKS Capital SA and the German Investment Bank KfW DEG. “This Series A investment marks a significant milestone in our journey to continue serving our customers and the opportunity to further provide holistic financial solutions. The team at Lupiya has worked hard and is excited for the new phase of our growth.

Source: The North Africa Journal September 18, 2023 06:38 UTC