AinFin, a London, UK-based banking service operating in challenging markets, raises £200k in seed funding.
The backers remained undisclosed.
The company – based at Level39, intends to use the funds to enter in the African market starting with Uganda.
Led by Dr. Joy Braun, Chief Executive and Co-Founder, and Dr. Linus Etube, Chief Operations Officer and co- founder, AinFin provides Swifin, an e-money mobile product which is network agnostic, multi-channel, cross-border and allows flexible design of financial instruments to be executed, in collaboration with regulated financial institutional and local banking partners.
Through its dedicated subsidiary, Swifin Ltd, AinFin has signed partnership with pan-African bank Ecobank to roll out digital transaction services across the African continent, starting in Uganda.
Amongst the joint priorities of the banking partnership is a major project that aims to deliver aid money to thousands in the far flung areas of Uganda.