Wele
Financial Services - Lusaka, Lusaka Province, Zambia
Wele Employees
Wele Senior Management
Wele Details
IntroductionZCredit is about enabling poor undeserved minorities in Africa to gain access to financial services. Less than half Zambia's the population has access to any form of financial services. The greatest need of these poor people is access to useful lump sums to manage household cash-flow— no formal providers are willing to supply entry-level finance. We are want to build an App that will give the undeserved people access to savings, loans and a credit score. Our platform allows users to save by joining or creating a savings group. Because most Africans already belong to savings groups we will use data from their savings groups and individual transactions to act as their credit reference. Existing savings groups sign up on our platform and users are able to compare and apply for loans offered by various lending companies and are educated on financial responsibility and they get updates on financial freedom, getting out of debt, family budgeting and savingsSubstantial accomplishments to dateWe were selected in 2017 as one of the 1,000 most promising startups in Africa and we have so far raised $5000 in seed funding from the Tony Elumelu Foundation. Which has gone into building our partnerships. We have so far signed on 2 micro finance companies and 2 Banks who are currently acting as lenders on our platform. We currently generate about 250 new users every month that use our loan comparison service and over $20,000 has been raised by borrowers using our platform. We are currently about to enter an agency system that compliments our savings group model by giving users a physical low cost outlet to withdraw receive and send money from their savings group account on our platform.support@zedcredit.comwww.zedcredit.com0954728084
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