Kigali-based fintech company Kayko has successfully secured USD 1.2 million in seed funding to digitise the operations of Rwanda’s informal merchants. This funding aims to build data infrastructure that can facilitate formal lending. Investors in this round include Burrow Capital, LuxDev, Hanga Ignite, and develoPPP Ventures. Established in 2021 by brothers Crepin and Kevin Kayisire, Kayko evolved from a university project into a micro-ERP platform currently used by over 8,500 small and medium-sized enterprises for tasks such as bookkeeping, inventory management, and tax compliance. By collecting real-time financial data, Kayko seeks to bridge the substantial financing gap that Rwandan SMEs face, enabling banks to evaluate creditworthiness without relying on traditional collateral. The newly acquired capital will aid in scaling operations, developing credit scoring systems, and forming partnerships with financial institutions, as Kayko positions itself at the forefront of digitisation and SME lending.
How is Kayko transforming Rwanda’s informal SMEs with a USD 1.2 M seed round?
