Work Here?
Overview
Umba is a digital bank in Africa focused on Kenya and Nigeria. Its mobile app provides free checking, transfers, bill payments, and deposits, powered by a credit-led model that also offers salary advances, installment loans, SME financing, and payroll solutions for businesses. In Kenya, Umba became a licensed microfinance bank after acquiring Daraja Microfinance Bank, enabling full banking services like current accounts and savings, while serving customers through a network of 5,000+ agents. The company uses machine learning to assess credit risk, approve loans, and detect fraud, aiming to expand affordable, convenient digital banking and credit to individuals and SMEs across emerging markets.
About Umba
Industries
Data & Analytics
Consumer Software
Fintech
Financial Services
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$27.3M
Headquarters
San Francisco, California
Founded
2018
Get referred to Umba
See people who can refer or advise you
Simplify's Take
What believers are saying
- Umba reported sixfold 2024 revenue growth and 19% monthly growth.
- Star Strong Capital added $5 million debt in April 2025 for lending expansion.
- Peach Cars partnership delivers 24-hour car financing and widens high-margin secured origination.
What critics are saying
- Nigeria remains unproven; FairMoney talks in 2024 signaled weak standalone strategic leverage.
- Kenya profitability depends on 2025 loan performance; credit losses can crush a lender fast.
- Umba owns one licensed Kenyan entity; regulatory missteps or capital shortfalls threaten shutdown.
What makes Umba unique
- Kenya microfinance license gives Umba deposit-taking access through 2026.
- Umba concentrates on secured vehicle and SME lending, not commodity airtime loans.
- Free transfers and tariff-free business payments reduce friction for Kenyan customers.
Help us improve and share your feedback! Did you find this helpful?
Funding
Total Funding
$27.3M
Above
Industry Average
Funded Over
5 Rounds
Growth & Insights and Company News
6 month growth
↑ 1%1 year growth
↑ 2%2 year growth
↑ 2%Previously, Umba secured $15 million in a Series A equity round in 2022, with backing from prominent investors such as Costanoa Ventures, Monzo co-founder Tom Blomfield, and Palm Drive Capital.
Umba, a Kenyan digital banking platform, has secured $5 million in debt financing to expand its operations and enhance its lending services across Africa. The funding, from global impact investors and fintech lenders, will help Umba grow its lending portfolio, improve credit scoring technology, and enter new East and West African markets. This follows a $15 million Series A equity round in 2022.
Kenyan fintech Umba secured $5 million in debt financing from Star Strong Capital to expand in Africa. Despite a challenging fintech landscape, Umba's Kenyan division is nearing profitability. The company, which raised $15.5 million in a Series A round in 2022, saw its valuation drop to $25 million in 2023. Umba's microfinance license in Kenya offers a competitive edge. Last year, FairMoney considered acquiring Umba for $20 million. The new funding provides a lifeline for Umba's operations.
Umba, a digital bank in Kenya, has secured $5M in funding from Star Strong Capital to grow its loan book.
Irish-led fintech Umba has secured $5 million in debt financing to expand its operations in Africa, with its Kenyan branch nearing profitability. Headquartered in Nairobi, Umba provides digital financial services in Nigeria and Kenya.
There are no jobs for Umba right now.
Find jobs on Simplify and start your career today
About Umba
Industries
Data & Analytics
Consumer Software
Fintech
Financial Services
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$27.3M
Headquarters
San Francisco, California
Founded
2018
There are no jobs for Umba right now.
Find jobs on Simplify and start your career today