4G Capital is a Kenyan company in fintech and has recently raised over $18.5 million in terms of funding from the platform of the global private equity firm Light rock. This will help the company in its upcoming plans to increase its customer and clientele base. The company plans to expand its business by introducing new products, services, and features.
4G Capital is a credit-based lending platform that enables clients to buy the products on loans and pay the price after the transaction. The company was established in 2013 by Wayne Hennessy-Barrett, the owner and the CEO of the company. The company plans to introduce new business loans with the maximum amount of $1000 with a longer payment period that would help them increase their users and clients and provide a base for business startups.
4G Capital is going to start the new feature that they call Kuza, in which the clients can directly access the products from the FMCG producers and distributors on full credits. The service will be released soon and is currently in the final trial phase.
4G Capital offers 100% unsecured loans to the micro-business that are untouched by the banks. The application has many security features such as physical locations that prevent them from fraud, money laundering, and lending of money for illegal uses. 4G capital has extended the loans valued over $230 million to about 1.75 million micro-businesses. They saw a 90 percent year-on-year growth.