We use technology to provide financial services that help communities thrive.
In Africa, over 80% of adults have no access to financial services. Zoona was founded in 2009 to address this problem. Brad and Brett Magrath, two brothers from Kitwe, in Zambia, saw that technology, coupled with the drive and potential of entrepreneurs across Africa, could change things. They started Zoona, a fintech startup that uses technology to provide financial services to people when they need them most so that communities can thrive. Entrepreneurs can access Zoona's platform from a mobile device, and use it to provide financial services like money transfers, payments, accounts and more. Zoona's unique model of an over the counter service has enabled over 1,000 entrepreneurs to start their own business, earning an income (over $10 million since 2009), while providing an essential service to their community.
Today, Zoona is available in over 1,500 locations in Zambia and Malawi, with Mozambique, DRC, and Ghana all coming online soon. Over $1 billion in mobile money transactions have been processed over the Zoona system, and 1.5 million people regularly use the service. Zoona has set the standard for social enterprises across the world, winning numerous awards, and raising over $22 million venture funding from investors like the IFC, the Omidyar Network, and Accion.
Name CEO: Mike Quinn
Company founded in: 2009
Country: South Africa
Category: Payments & Transfers