BitBond, a German firm facilitating p2p loans via the bitcoin blockchain, announced today that it is teaming up with payment services provider BitPesa to improve access to financing for small business in Africa. The integration is now live in Kenya, Nigeria, Uganda and Tanzania.
New borrowers who receive funding on Bitbond in these markets can now have their loan paid out directly to a mobile money or bank account via BitPesa in local currency.
Founder and CEO of Bitbond, Radoslav Albrecht, says: “10% of our global user base comes from Sub-Saharan Africa. We are excited to work with BitPesa in this region because there is a huge unmet demand for small business financing. Together with BitPesa, we can significantly improve our service. This means that a small business owner from Kenya can receive loan funding from investors from all over the world via Bitbond and have the funds paid out to his mobile money account in 20 minutes. This is an unprecedented level of innovation and convenience in the entire online lending space.”
BitPesa founder and CEO Elizabeth Rossiello says: “We are always excited to partner with companies that make doing business in Africa easier and more efficient. Our customers are businesses looking to grow across the continent and beyond. Better access to efficient financing is a tremendous way to boost their growth.”