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    Umba Secures 5 Million Facility to Expand Lending Operations in Kenya

    • April 10, 2025
    Umba Funding

    Umba, a digital financial services startup, has secured a 5 million dollar debt facility to support the expansion of its loan business in Kenya. The funding will be used to grow Umba’s loan book, improve customer acquisition, and strengthen credit access through technology.

    The 5 million facility was provided by an undisclosed financial partner. According to Umba, the capital will increase access to credit for individual consumers and small businesses across Kenya. This move supports Umba’s goal to scale its digital lending services in emerging markets.

    Founded in 2018, Umba operates as a mobile-first digital bank offering services such as current accounts, bill payments, peer to peer transfers, and credit. The company entered the Kenyan market in 2021 and has also been active in Nigeria.

    Umba uses alternative data and artificial intelligence to evaluate creditworthiness and deliver loans via its mobile app. The new funding will enhance its ability to serve underserved communities and expand its user base.

    The company has previously raised equity funding from investors including Costanoa Ventures, Tom Blomfield, and Palm Drive Capital. The latest debt facility adds to its funding history as it continues to scale operations.

    Kenya’s digital lending sector is growing rapidly, with increasing demand for flexible, accessible financial services. Umba’s latest investment positions it to compete more strongly and contribute to financial inclusion in the country.

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