Columbia’s fintech company Minka has arrived in Africa, specifically in East Africa.
The company intends to initially focus on serving customers across Eastern and Southern Africa. Minka bridges the gaps between banks, financial institutions, central banks, fintechs, and clearing houses online through shared and connected ledgers making the complex process of moving money simple, fast, and secure.
Minka has witnessed tremendous success in Latin America and sees many similarities and differences where their technology can be useful on both sides of the Atlantic Ocean.
Minka’s initial strategy for expansion in Africa targets providing solutions with the potential to impact the lives of people, businesses, and governments alike. Kenya, Tanzania, Ethiopia, Malawi, Zambia, Burundi, Uganda, and Mozambique are the first countries Minka plans to expand to.
Unlike other payment infrastructure companies, Minka is a cloud-based programmable solution that can be customized by its partners to fit within a variety of regulatory frameworks and solve problems across countless use cases.
Minka’s infrastructure is built in a way that gives its users the flexibility to make the complicated world of payments simple, fast, and secure.
According to Minka’s CEO Domagoj Rozic, “Since our founding, we have been able to revolutionize how people and institutions interact with money. Our expansion into Africa is a testament to our continued mission to build more efficient payments infrastructure across the Global South. Low levels of financial inclusion, a heavy reliance on cash, and non-interoperable legacy payment systems are just a few of the issues our team in Latin America have successfully been able to overcome and we believe it is our duty to continue creating solutions that benefit society.”
Alexander Perko, Minka’s Growth Lead stated, “We’re excited to bring our story and the benefits of our approach to people in Africa, where we’re building impactful connections between financial institutions of all types and allowing teams to build and connect payment systems in days instead of years.”
Minka hails from Bogota, Columbia where the company was founded in 2016. The company raised $24M USD in 2022 in a Series A funding round which saw participation from prolific investors such as Tiger Global Management, Kaszec Ventures, and the FinTech Collective.
