Timothy Nuy

In the bustling markets of Africa, where aspirations collide with financial barriers, there’s a quiet revolution brewing. Here, the stories of individuals like Mr. Hafdhi and Mr. Jamil resonate far beyond the boardrooms and balance sheets, painting a vivid picture of the transformative impact of Fin, a company promising an innovative approach to finance.

Mr. Hafdhi, owner of Africars Commission in Tanzania, speaks of a partnership that transcends mere business transactions. For him, Fin is a reliable ally. “Prior to partnering with Fin, our biggest challenge was losing customers who couldn’t make full payments for a car due to the lack of a proper repayment collection system,” he explains. With over 140 cars financed, Mr. Hafdhi’s journey with Fin ensures that every eligible customer leaves his showroom with a vehicle.

Similarly, Mr. Jamil, a road construction entrepreneur in East Kenya, found himself on the brink of losing a tender due to financial constraints. “The bank which I have worked with for more than 10 years could not offer me a solution within the set timelines owing to their long appraisal process,” he says. In the eleventh hour, Fin emerged as a swift and responsive lifeline, allowing Mr. Jamil to “beat the deadline” and get his submission in on-time. 

These anecdotes aren’t just isolated incidents; they’re emblematic of Fin’s broader mission—to amplify intergenerational wealth across Africa through credit. Led by Timothy Nuy and Tonderai Mutesva, Fin operates at the intersection of technology and finance, embodied in a credit-led neo-banking platform. Its range of innovative solutions, sophisticated credit scoring algorithms, and risk management analytics ensures that access to finance isn’t just a privilege for the few but a fundamental right for all. 

“One of the things that has contributed to Fin’s success is that we’ve stayed true to ourselves,” Timothy explains. “We’ve focused on credit risk and did not get too confused by venture strategies of trying to hyperscale and iterate too much, which is why we are where we are today.”

That is also why today, Fin’s product offering caters to the diverse financial needs of its customers across Africa. At the core of its suite is Fin Payroll Loans, a solution that empowers employers, employees, and consumers alike with a range of convenient financial products. Meanwhile, Fin Online Loans enables customers to apply for credit online or via the Fin Online Loans app within minutes. 

Expanding beyond lending, Fin Cover offers a suite of insurance products and employee benefit solutions for both individuals and employers, including funeral and group medical insurance expenses. Additionally, MediFin stands as one of Southern Africa’s largest independent Medical Finance and Financial Service Providers, committed to enabling everyday South Africans to undergo medical procedures. Lastly, Fin Home provides responsible, affordable, and transparent housing credit solutions that empower individuals to realize their dreams of homeownership. 

Today, the company has acquired over 240,000 customers and disbursed over USD 310 million in loans across Kenya, South Africa, and Tanzania, cementing its position as a trailblazer in the fintech sector. 

“Acasia Ventures were our first institutional investors,” according to Timothy. “They were an extremely welcome addition to our roster of investors, because they really have a deeper understanding of the Africa venture markets, compared to others.” 

“Fin consists of a team of fintech professionals and entrepreneurs from around the world, who are passionate about building products that help to make financial tools easily accessible for people in Africa,” Managing Partner of Acasia Ventures Aly El Shalakany says. “They provide the market with critical access to credit, which provides the opportunity for financial inclusion for all.”