Rwanda's Small Businesses Get $1.2 Million Tech Boost

A Rwandan financial technology startup has secured $1.2 million to help small and medium-sized companies access funding. The startup, Kayko, announced the completion of its seed funding round. The money will be used to grow its digital lending platform. Kayko uses data to analyze the financial health of small businesses. This method allows the company to offer loans to entrepreneurs who often struggle to get credit from traditional banks. Small and medium-sized enterprises are a major part of Rwanda's economy. However, limited access to financing remains a significant barrier to their growth. The new investment will enable Kayko to expand its services across Rwanda. The goal is to support more local businesses with the capital they need to develop.