Simplified Tech News Reporting

OZÉ Raises $3m To Expand Capacities Of Digital Recordkeeping Platform

The Ghanaian fintech startup is a mobile app that helps small businesses record their sales, expenses, payables, and receivables.

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Ghanaian fintech startup OZÉ, which provides digital recordkeeping tools with embedded finance products to MSMEs, has raised a US$3 million pre-Series A funding round to expand the capabilities of its platform and increase access to affordable finance.

OZÉ aggregates data to provide context specific recommendations and reports. Using this data and machine learning, the startup predicts a business’ credit risk and provides it with affordable capital from its banking partners.

With a client base of over 125,000 business owners, has just closed a US$3 million pre-Series A round led by Speedinvest and including Cathay AfricInvest Innovation Fund, Savannah Fund and several angels “experienced in operating and investing in global fintech”.

Dave Emnett, OZÉ co-founder said: “The last decade has seen a huge transformation in the digitisation of business. Accelerated by the pandemic, we are now seeing an even greater demand for solutions to financial challenges like accepting payments, understanding cash positions, and securing loans to increase stock for busy periods.”

Philip Specht, principal at SpeedInvest said: “There has been a lot of interest in the digitisation of SMEs in Africa over the last year. We have also observed the space carefully as we believe that there is tremendous potential in building the financial operating systems for African MSMEs. We are extremely excited to partner with the OZÉ team as we believe they have the right leadership and strategy in place to build the strongest platform in this market.”




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