Overview
Watu is an asset-financing fintech in Africa that provides buy-now-pay-later loans to unbanked and underserved customers to acquire income-generating assets. It finances items such as two- and three-wheelers, smartphones, and education, with bundles that include GPS tracking, insurance, and logbook transfers, and repayment is typically via mobile money with interest and fees as revenue. The company differentiates itself by targeting mass-market mobility and financial inclusion at scale, expanding beyond vehicles into devices and education, and investing in green mobility through EV financing and partnerships. Its goal is to increase access to credit and mobility for underserved populations, while expanding the EV portfolio and building the infrastructure needed for affordable, sustainable transportation across Africa.
Work here?Claim your company
About Watu
Industries
Company Size
1,001-5,000
Company Stage
Debt Financing
Total Funding
$29M
Headquarters
Nairobi, Kenya
Founded
2015
Get referred to Watu
See people who can refer or advise you
Simplify's Take
What believers are saying
- On 23 July 2026, Watu Uganda financed one million devices, doubling 2025 volume.
- Watu and Airtel Rwanda launched smartphone financing on 9 July 2026, broadening distribution.
- Car & General reported 2025 revenue up 92.7% to KES28.3 billion.
What critics are saying
- TechCabal reported 2024 profit plunged 85% as loan defaults rose in Kenya and Uganda.
- The Star said 2025 restructuring cut some departments nearly half, signaling brittle economics.
- If defaults spike again, funding can tighten and force a destructive repossession spiral.
What makes Watu unique
- Watu finances boda bodas, tuk-tuks, and smartphones through bundled asset-credit underwriting.
- Its GPS, insurance, and logbook-transfer bundle locks assets into repayment and recovery.
- July 2026 Airtel Rwanda deal ties handset financing to telecom distribution and mobile money.
Help us improve and share your feedback! Did you find this helpful?
Funding
Total Funding
$29M
Above
Industry Average
Funded Over
3 Rounds
Benefits
Health Insurance
Company News
Kenya's Watu has secured a $7 million nondilutive debt facility from AHL Venture Partners to support its asset-financing operations across Africa and Latin America. The funding will strengthen working capital and expand the company's portfolio of motorcycles, three-wheelers, and smartphones in select African markets. Founded in 2015, Watu operates in 10 countries including Kenya, Tanzania, Uganda, Nigeria, and Mexico. The company reports originating over 7 million loans since inception, focusing on mobility and connectivity assets for underserved customers. The facility builds on a financing relationship dating back to 2022. It follows AHL's recent second close of its Africa Credit Fund I, which raised $45.5 million toward a $70 million target. The fund provides senior secured, mezzanine, and bridge loans ranging from $2 million to $10 million to profitable businesses across East, West, and Southern Africa.
Metier Capital Growth Fund III partners with one of East Africa's leading connected asset microfinance institutions 16 September 2025 - Metier, through its Capital Growth Fund III ("MCGF III"), has partnered with Watu Group ("Watu"), a non-deposit taking microfinance institution [...]
By combining Jumia's massive online marketplace with Watu's financing model, this BNPL program could turn smartphones from simple gadgets into powerful tools for economic and social growth.
By combining Jumia's online marketplace with Watu Credit's proven financing model, the BNPL program positions smartphones not just as devices, but as tools for economic and social empowerment.
Founded in 2015 by Latvian entrepreneur, Andris Kaneps, Watu has raised over $20 million across five funding rounds from investors including:
Watu is Hiring for 23 Jobs on Simplify!
Find jobs on Simplify and start your career today
About Watu
Industries
Company Size
1,001-5,000
Company Stage
Debt Financing
Total Funding
$29M
Headquarters
Nairobi, Kenya
Founded
2015
Watu is Hiring for 23 Jobs on Simplify!
Find jobs on Simplify and start your career today