Tech

Nigerian fintech startup, Ruubby, launches platform to help shoppers build credit scores

Published

2 years ago

March 12, 2023

Nigerian fintech startup, Ruubby, has announced the launch of a platform aimed at actively encouraging users to build their credit scores while shopping for their favourite items online.

The founder and CEO of Ruubby, Joseph Ezekwem, who announced the launch of the platform, said the necessity rose from the realisation that more than 85 per cent of Africans do not have access to credit or other financial products, largely because banks and financial institutions do not have enough data to determine eligibility.

He said the Ruubby which was founded only in 2022, is to bridge that gap by helping users build and improve their credit scores, thereby making them eligible for credit and financial products.

“When you transact on Ruubby, with your approval, we submit your data that is needed by the credit bureaus to build your credit score,” Ezekwem said on Friday.

“Ruubby also provide a platform for business owners in Nigeria to have a store online to sell to current and new customers, with a business management tool provided.”

“Our target customers are every Nigerian adult that intends to improve their financial profile while shopping for their everyday favourite items online. We all need financial independence and access to loans when needed.

Currently, the startup already has a handful of companies as partners and some businesses that have created online stores through its platform and has also begun signing up its first customers, he said.

“Our first goal is to onboard as many businesses as possible on our platform. We want to provide that opportunity for local stores to have their stores on our platform and be able to sell to anyone in any state in Nigeria,” Ezekwem added.

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Tech

20 African tech-preneurs embark on Korean innovation tour

Published

17 hours ago

December 22, 2024

Isaac Dachen

The African Development Bank Group’s Innovation and Entrepreneurship Lab has selected 20 promising tech entrepreneurs from various African technology ventures and enterprise support organisations to embark on a two-week study tour of the Republic of Korea, with the aim of seeking investment and insights from the country’s innovative tech ecosystem.

The selected entrepreneurs are from 133 ventures that participated in last month’s Africa Tech Startup Forum.

The forum which will hold under the auspices of the lab’s “Leveraging the Entrepreneurial and Innovation Success of Korea to Strengthen African Enterprise Support” project, had selected entrepreneurs who pitched the best business models during the week-long virtual market access and acceleration programme preparing, training, and connecting technology ventures with opportunities.

The 20 young tech-preneurs were selected from eight African countries including Nigeria, Egypt, Ghana, Kenya, Morocco, Rwanda, South Africa, and Uganda, with the delegates spanning various sectors in the technology space.

While in Korea, the African delegates will pay visits to prestigious institutions such as Global Startup Centre, LG Science Park, the Korea Software Technology Association, and the Global Digital Innovation Network.

Speaking on behalf of the delegates, founder of Kenya-based health technology venture Zuri Health, Uche Ezadinachi said:

“I am excited to go to Korea because the country has made serious technological developments. The country is a technology-driven society, and this tour is an opportunity for me to see how we can bring such technology to Africa.

“We will share experiences with our Korean counterparts; they will learn from us as much as we learn from them,” he added.

Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

4 days ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.