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Kwara Raises $3M for Seed Expansion and Signs Deal to Reach Over 4,000 Credit Unions
Kwara, a Kenyan fintech digitizing credit unions (Saccos), has more than doubled its customer base over the past year and plans for huge growth in the coming years after raising a $3 million seed expansion and an exclusive Digital Solutions Distribution Agreement signed with the Kenya Union of Savings & Credit Cooperatives (Kuscco), the national umbrella organization that represents Saccos.
Techcrunch in its report noted that, following the Kuscco partnership, Kwara will have connections to a pool of over 4,000 Saccos for its Banking-as-a-Service product. As part of the exclusive deal, Kwara will also acquire Kuscco’s subsidiary IRNET, a software company and provider for Saccos, for an undisclosed amount.
According to Kwara, the Kuscco deal comes at the right time in his plan to double-down on Kenya, especially as it comes right after the $3 million seed round extension. Joining the round were existing investors DOB Equity, Globivest and Willard Ahdritz, founder of Kobalt Music. New supporters One Day Yes, Base Capital, and fintech executives including Mikko Salovaara, Revolut’s CFO, also joined the round. The new funding brings the total seed fund raised by the startup to $7 million after first round investments from Breega, SoftBank Vision Fund Emerge, Finca Ventures, New General Market Partners and other VCs.
“We believe we have barely scratched the surface of the Kenyan market. And so we’re really going to invest in products and services that deepen our relationship here,” Cynthia Wandia, co-founder and CEO of Kwara, told TechCrunch.
“The reason (of the deal) is clear, firstly it is an opportunity to generate leads and sell our core product so quickly and deepen our competitive advantage. We are entering into an exclusive partnership, which also means that no other technology company can market with Kuscco. They’re counting on us, but we’ve been able to prove we can do it as we continue to grow,” said Wandia, who co-founded the fintech in 2019 with David Hwan.
Kwara, which also has a presence in South Africa and the Philippines, has grown its customer base to 120 from 50 at the end of 2021 and has maintained 100% customer retention – a testament to the value it brings to its customers. The automated onboarding process, according to the startup, has ensured customer success and growth.
Kwara’s product upgrades credit unions’ back-office operations, helping them move away from tedious paper-based processes and physical branches, and opening up new avenues for them to recruit new members and create novel products.
The company also has a next-gen neobank app that gives members of partner credit unions access to additional services like instant loans and third-party services like insurance. The neobank app’s user base, which also allows users to deposit funds directly into their Sacco accounts and track their finances and payments, has grown 35-fold since it launched last year.
The fintech plans to add more features for the Saccos and additional products for the members.
“We continue to deliver more or less enterprise-grade features for the big saccos that are well capitalized, the ones that are the same size and level as some of the banks. There are specific features that they need and specific capabilities that they need to take care of, so we will continue to invest in those. And then invest in the neo-banking experience by adding more features that help members create a personalized view of their own goals and really work towards achieving them. Third-party partnerships that add value to those end customers,” Wandia said.
“We believe that every time a sacco member leaves their sacco to obtain another service simply because the sacco does not provide it, is a missed opportunity for that member to actually benefit from the returns from that product . Any revenue generated from these products actually goes back to members as dividends,” she added.
Credit unions are formed by people with a common interest or members of an industry, such as farmers or teachers, who buy shares in the institution, save money, and borrow. They are particularly popular in developing regions because of their low-interest loans and the ease of borrowing compared to conventional banks.
In the rapidly evolving landscape of African technology, few figures bridge the gap between high-level research and grassroots digital execution as effectively as Nnaemeka Ani.
Nnaemeka Ani
As the Founder of MGX Research Center and the visionary behind MexyGabriel, Ani has emerged as a leading protagonist in the narrative of Nigeria’s technological self-reliance.
The Visionary: Founding MGX Research
At the heart of Ani’s philosophy is MGX Research, a center dedicated to “first-principles thinking.” Under his leadership, the center has become a beacon for data-driven innovation, moving beyond the “hype” of the tech world to focus on persistent, localized solutions.
Through MGX Research Center, he is building a multidisciplinary ecosystem that cuts across artificial intelligence, data science, cybersecurity, smart cities, digital identity, e-governance, EdTech, HealthTech, robotics, and automation
Ani’s mantra – “Africa’s rise begins with its own innovation” – is not just a slogan; it is a call to arms for African builders to stop seeking international validation and start authoring their own digital destiny.
As Founder and CEO of MexyGabriel Tech Company, Nnaemeka has driven multiple large-scale technology projects across Nigeria, focusing on digital infrastructure, enterprise solutions, identity and payment platforms, and youth-centered innovation programs. MGX Research Center functions as the research and development arm of this broader ecosystem, providing the thinking laboratory, prototypes, and strategic insights that inform products, policies, and investment decisions.
Nnaemeka is passionate about youth empowerment, innovation, and Africa’s digital future. His work through MGX Research Center aims to position Nigeria not just as a consumer of technology but as a creator of solutions, producing world-class research, thought leadership, and practical tools that can be deployed across states, universities, and private organizations.
He frequently collaborates with universities, government ministries, tech hubs, and global partners, championing a model where research is not locked up in theory but translated into deployable systems, smart policies, and scalable ventures.
Ani has demonstrated a unique ability to turn complex code into commercial and social value. His work has focused on:
- Infrastructure for Good: Developing platforms that bridge the divide between urban tech hubs and rural communities.
- Sovereign Technology: Championing the idea that African data should be managed by African-built systems.
The Public Servant: Digitizing Enugu State
Ani’s influence extends into the corridors of power. Serving as the Special Adviser to the Enugu State Governor on ICT, he has been instrumental in transforming the state into a burgeoning digital ecosystem.
His work in Enugu serves as a blueprint for “Governance-Tech Synergy,” proving that when political will meets technical expertise, public service delivery can be revolutionized.
“We are no longer just ’emerging’; we are competing. Africa will rise by code, by courage, and by us,” said Nnaemeka Ani.
Quick Facts: Nnaemeka Ani
Category | Detail |
Current Roles | Founder, MGX Research; Founder, MexyGabriel; SA on ICT to Enugu State Governor. |
Core Philosophy | “First-Principles Thinking” – Breaking problems down to their core truths. |
Key Advocacy | Digital Sovereignty, Sovereign AI, and localized STEM education. |
Notable Mantra | “By Code and By Courage.” |
Why He Matters in 2026
As Nigeria enters a transformative year marked by the January 1, 2026 Tax Reforms and the push toward 70% Broadband Penetration, Ani represents the “New Guard” of leadership. He is one of the few voices consistently advocating for the Tripod Method, balancing technology, local policing, and traditional authority, to ensure that Nigeria’s digital growth is matched by national security.
Nnaemeka Ani is not just as a “tech guy,” but as a Strategic Reformer. He is a “Leader to Watch” because he understands that for technology to thrive in Nigeria, it must be supported by sound policy and cultural relevance.
MTN Nigeria has hosted the Prestige Experience, a refined evening of culture, connection and celebration, as part of its ongoing Y’ellotide initiative marking the Yuletide season.
MTN Nigeria
The event, held on Friday at The Royal Box, Victoria Island, Lagos, brought together customers, partners, stakeholders, and dignitaries in an atmosphere of appreciation and festivity.
The Prestige Experience showcased Nigerian creativity and elegance through a curated blend of fine dining, fashion, and music. Guests were treated to Michelin-inspired cuisine prepared by renowned Chef Stone, fashion showcases highlighting African heritage, and soulful performances by acclaimed singer Asa.
The evening was anchored by popular hosts Ebuka Obi-Uchendu and Michelle Dede, with comedic interludes from veteran comedian Alibaba.
Speaking at the event, Dr Ernest Ndukwe (OFR), Chairman of MTN Nigeria, described the gathering as an expression of gratitude and partnership. He said the Prestige Experience reflected MTN’s appreciation for the trust Nigerians continue to place in the brand.
“The MTN Prestige Experience is a cornerstone of our commitment to you, our valued partners. Your trust and continued patronage are the bedrock of our success, and this gathering reflects our appreciation for that trust.
“We are not just a service provider but are committed to being a trusted partner in Nigeria’s progress,” Ndukwe said.
In his remarks, Dr Karl Toriola, Chief Executive Officer of MTN Nigeria, emphasised the importance of genuine connection during the festive season.
“We recognise the immense value of the relationships we have built together, and we are committed to ensuring that your experience remains unparalleled.
“You are essential partners in our journey, and we look forward to many more years of shared success and collaboration,” Toriola said.
Distinguished guests at the event included members of MTN’s Board and Executive Management, industry leaders, government officials, members of the diplomatic community, and representatives from the creative sector, reflecting the diversity and richness of the MTN ecosystem.
The Prestige Experience forms part of MTN’s broader Y’ellotide celebrations, which reaffirm the company’s belief that meaningful connections and shared experiences remain central to its relationship with Nigerians.
Google has unveiled a new feature that allows Gmail users to change their existing email addresses without losing data or access to services, marking a major shift in the company’s long-standing policy.
Gmail
According to an update on Google’s account help page, the new option enables account holders to replace their current @gmail.com address with a new one while retaining all associated data, including emails, photos, and integrations with services such as Google Drive, Maps, and YouTube.
The guidance, however, was first spotted on the Hindi version of Google’s support page, suggesting that the rollout may begin in India or Hindi-speaking markets before expanding globally.
The English-language support page still carries the older advisory that Gmail addresses “usually cannot be changed.”
Google explained that under the new policy, users who update their Gmail address will automatically keep their original address as an alias.
This means emails sent to the old address will continue to arrive in the inbox, and the original address will remain valid for signing in to Google services.
Previously, users seeking a new Gmail address had to create an entirely new account and manually transfer their data, a process that often disrupted third-party app integrations. The new feature eliminates that inconvenience, ensuring continuity for users.
The company further clarified that while users can reuse their old Gmail address at any time, accounts that change their address will face certain restrictions.
These include a 12-month waiting period before another new Gmail address can be created, and the inability to delete the newly chosen address once it has been set.
Google assured users that all existing data would remain intact after an address update, including stored photos, messages, and emails.
The gradual rollout of the feature indicates that full global adoption is expected in the coming months, a move likely to be welcomed by millions of users who have long requested the ability to update their Gmail identities without starting afresh.
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