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BeneFactors

Sector: Financial Services
Country: Rwanda
Founders: Olivia Zank
Funding: $550,000
Founded: 2017
Investors: Seedstars, Silverback Capital, NISK Capital

Details

If you have pending payments from trustworthy clients but need cash today, BeneFactors wants to hear from you. The startup provides factoring services and working capital solutions to firms in Rwanda. They do this through a model combining a unique credit scoring algorithm they developed specifically for the Rwandan market and post-disbursement support to work with companies other financial service providers consider unbankable. Last year, they secured partnerships with Seedstars, NISK and Bank of Africa on top of $550,000 in funding from Seedstars, Silverback Capital and NISK Capital. They are also the winner of the 2018 Seedstars World Kigali Competition.