Press Release
FlexPay is the leading Save to Buy platform in Africa
Cairo, Nairobi – Acasia Ventures, a micro venture capital fund that invests in early-stage startups in the Middle East and Africa, is delighted to announce its investment in the fintech startup FlexPay.
FlexPay is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa. Through FlexPay, the merchants give their customers the freedom to choose how and when to pay for high-value goods and services. Shoppers get to spread the cost over time (pay in instalments) increasing flexibility and spending power. Merchants can choose to integrate FlexPay as a checkout option online, or offer offline in-store flexibility. They have managed to grow their GMV 5x over the past year.
“Comment From Richard.” Stated Richard Mwangi, Founder and CEO of FlexPay.
“FlexPay is our first investment in Africa outside of Egypt. Richard and Johnson are two stellar founders who have built an amazing FinTech platform that flips BNPL on its head by harnessing the power of saving and digitizing the deep-rooted culture of ‘lay way’. We will be supporting FlexPay with their regional expansion plans in other key Africa markets, including Nigeria and Egypt” said Aly El Shalakany, Managing Partner of Acasia Ventures.
