Kenya: Kenyan fintech startup Popote, which tackles financial control problems threatening SMEs in Africa, has raised a funding round from Lagos-based fintech investment company GreenHouse Capital to help it scale.
Launched in 2014, Popote launched its primary product, a payment, expense management, and accounting solution called PopotePay, in 2017. The startup also offers other solutions aligned to its long-term vision to be the world’s leading provider of financial technology-driven solutions that promote team collaboration, mobility, and convenience.
Sam Wanjohi, the founder and chief executive officer (CEO) of Popote, said making payments in the old-fashioned way wastes time, risks fraud, destroys productivity and suppresses growth.
“PopotePay allows businesses to link and payout of multiple bank accounts or mobile money wallets. Completed transactions are stored alongside their notes, attachments, authorization history, and accounting general ledger meaning the accounting part is also done. At the click of a button, records can be retrieved for use in preparing management or audited accounts. The entire process is seamless”, he said.