Kenyan fintech startup Leja has processed $2 billion in B2B payments since launching its B2B payments service earlier this year.
Leja aims to bridge the gap between MSMEs and financial institutions, empower small businesses by streamlining payment management and providing tools to improve efficiency, paving the way for growth and better access to formal financial resources .
The Leja app helps businesses move from pen and paper to digital record keeping, integrating seamlessly with mobile money platforms. Since its inception three years ago, Leja has onboarded more than 1.4 million MSMEs, and its 2024 target reflects a 30% month-on-month growth rate and a 300% cumulative increase in B2B transactions in one year.
“The rapid adoption of the Leja app over the past year highlights the power of local solutions tailored to underserved markets. We are proud to address the challenges MSMEs face, including limited access to affordable payment options and working capital financing. Many MSMEs previously relied on costly and inconvenient methods like cash, which impacted their operations,” said Tekwane Mwendwa, co-founder and CEO of Leja.
“Currently only 10% of our users use B2B payment functionality, but we aim to increase this to 50%, unlocking significant transaction volume and revenue potential. On the lending side, we plan to expand our reach from 5 to 20 percent by partnering with financial institutions and NGOs to bridge the credit gap of MSMEs.
Leja also plans to expand into two additional East African markets by the second quarter of 2025. Leveraging its innovative data-driven credit scoring and payment solutions, Leja aims to drive growth income while advancing financial inclusion.
“Our mission is to close the significant credit gap that hampers MSME growth, thereby enabling micro-SMEs across Africa to thrive,” Mwendwa said. “We are committed to providing accessible and scalable solutions while delivering strong returns to our investors. »