Popote Payments, fintech startup in Kenya, has raised funding from Lagos-based fintech investment company GreenHouse Capital to scale its operations in Lagos
As reported in Africa Business Communities, Sam Wanjohi, founder and CEO of Popote Payments, said, “They give us access to the knowledge and skills that exist in their ecosystem. Additionally, GreenHouse will introduce PopotePay and our other solutions into the Nigerian market more quickly than we could achieve on our own, especially given their fintech domain expertise and relations with banks that we aim to work with for distribution.”
Popote Payments helps businesses to manage daily payments which include budgeting, payment initiation, record keeping, accounting, as well as allow businesses to link and payout to multiple bank accounts or various mobile money wallets.
According to Wanjohi, the high rate of failure of African businesses is largely due to poor expense management or internal funds misappropriation.
Quoting him, the source further reported, “With PopotePay, employees can be empowered without loss of oversight or controls. There are only two areas in the payments landscape: income and expenditure. Most fintech have addressed the challenges of income through providing digital payment gateways, but expenditure is largely unaddressed.”
