KARiFi

Adwuma

FinTech · Series A · Accra, GH · Equity

Payroll & working-capital rails for African SMEs.

The pitch

We turn informal SME payroll into credit — and capital flows to where the work is.

Problem

40 million African SMEs run payroll on cash, WhatsApp and paper. Banks can't see that activity, so they can't lend against it. The result: thriving businesses are starved of the working capital they need to grow, while lenders sit on the sidelines for lack of a signal.

Solution

Adwuma digitises SME payroll for free, then uses that recurring payroll signal to underwrite working-capital advances repaid in ~14 days. Businesses get instant liquidity; we get a proprietary, real-time credit signal no incumbent can replicate.

Traction

• $2.4M ARR, growing 18% month-over-month
• 9,400 SMEs on payroll across Ghana & Nigeria
• 2.1% blended default, trending to 1.6% on recent cohorts
• 128% net dollar retention on the advance product
• Kenya launch paperwork filed — go-live in Q3

About

Adwuma turns informal SME payroll into a credit signal, then extends working-capital advances against it. Live in Ghana and Nigeria, expanding to Kenya. 0% platform fees for businesses under 20 staff.

Team

• Kofi Mensah - Co-founder & CEO
• Ama Owusu - Co-founder & CTO
• Daniel Boadi - Head of Credit

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