Ugandan fintech Zofi Cash has received a USD 1mn debt investment from Advancly for its pre-seed round. The company is a salary-advance platform that currently serves just over 3,000 employees, it will use the funds to onboard 20,000 individuals who are currently on its waiting list that is unable to serve.
The company was established in 2021 by Paul Kirungi (CEO) and Gordon Turibamwe (CTO). It enables employees to receive up to 50% of their monthly take-home salary.
In Morocco, home services startup PrestaFreedom has secured a USD 1.1mn (MAD 11mn) investment from the Azur Innovation Fund to support its geographic expansion and the development of its logistics and technology. The startup was founded in 2020 by Majid Bensilmane.