PesaChoice and Viebeg, two Rwandan software firms, have received initial investment from the Norrsken Foundation in Kigali.
Norrsken was founded in 2016 by Niklas Adalberth, one of the founders of Swedish fintech unicorn Klarna, with the goal of assisting entrepreneurs in addressing the world’s most pressing issues. The impact and digital entrepreneurship support organization, Disrupt Africa, announced in 2019 that it has opened operations in Kigali, Rwanda, as a platform for investment across the East and Central African area.
Norrsken Foundation has announced seed investments in Kigali-based firms PesaChoice and Viebeg Technologies ahead of the “beta” debut of its Norrsken House co-working facility in Kigali in less than a month.
PesaChoice is a financial technology firm that helps consumers with limited access to institutional credit bridge the gap between their paychecks and unforeseen costs. Users may apply for micro-loans at a set interest rate quickly and easily, removing the need for unscrupulous lenders, mounds of paperwork, and long wait periods to acquire cash.
Meanwhile, Viebeg is an e-health company developing a procurement platform to ensure that healthcare institutions always have the proper sort and quantity of goods in-store to treat patients. Over 230 hospitals in Rwanda, Burundi, and Congo utilise its software, which helps them acquire supplies more effectively and saves them up to 40% on costs.
“We are committed to building a thriving ecosystem for East Africa startups, with Norrsken House in Kigali as the epicenter. These investments are part of that commitment. We believe Kigali has a bright future ahead as one of Africa’s leading hubs for entrepreneurs, and we want to help accelerate that journey,” said Pascal Murasira, managing director of Norrsken East Africa.
“Our vision for PesaChoice is to make an impact through providing access to finance. We are proud to be part of the Norrsken family because of our shared vision for Kigali’s future as a startup hub,” said Davis Davis Nteziryayo, chief executive officer (CEO) and co-founder of PesaChoice, which also plans to relocate its operations to Norrsken House Kigali once the house opens.
“Norrsken’s investment is going to help our company build predictive analytics models that improve health care in the region with local talents. We are excited to be part of the fast-growing, thriving tech environment in Kigali, which Norrsken is accelerating,” said Tobias Reiter, CEO, and founder of Viebeg Technologies.