Zimbabwean fintech startup Cashlinq has launched a baking-as-a-service platform to enable businesses and startups across the continent to offer superior banking solutions.
Formed in 2022 by four by experienced co-founders after they identified how expensive foreign-based solutions did not meet the needs of unique and volatile African markets, Cashlinq has developed a platform that can be used to power digital banks, MNO wallets, microfinance systems, or the low KYC accounts and wallets of a traditional banks.
“Africa, and Zimbabwe in particular, is a very volatile market. Things change very fast, from regulatory to consumer needs and preferences. As such, most financial institutions have challenges in keeping up with the trends and developments thereby hindering innovation and bigger success,” Cashlinq CEO Tendai Mugovi told Disrupt Africa.
“The available solutions also come at mouth-watering prices, and most providers prefers USD. This poses great financial distress to the financial institutions. The market wants a flexible and affordable solution. This is the gap we are on a mission to address.”
Bootstrapped thus far, Cashlinq is built on the latest ISO payment standard and as such says it can smoothly integrate its system anywhere in the world.
“That being said, we want to mostly target the KINGS of Africa’s digital economy – Kenya, Ivory Coast, Nigeria, Ghana and South Africa,” said Mugovi.
The startup will monetise from small commissions on all transactions facilitated by its system.