Startup Spotlight: Krypia

Krypia was founded by Geoffrey Nkandu, a visionary who formed the company after being struck by the lack of funding for millions of SMEs across the African continent as well as inaccessible financial services for the large unbanked population. He is an entrepreneur and a software developer and his skills have been instrumental in building Krypia’s innovative operations. 

Krypia is headed by Muma, a creative alchemist with many passions. She comes from a banking, financial tech and social impact background.  She thrives on exploring how best she can serve and create better opportunities for all. As a member of the Institute of Coding, she hopes to use her skills and influence by merging social impact and emerging technology to make an even wider impact in the lives of others.

When an opportunity to make such an impact came in the form of an African Fintech, Krypia, she was excited to take on the opportunity of CEO, working with truly innovative minds. 

We reached out to Muma to give us more details about Krypia.

Krypia is a financial platform that empowers SME’S by investing funds into their businesses to help them scale up in the shortest time possible. We equip them with entrepreneurial expertise to expand their market reach. We also aim to provide access to finance that is affordable for all and to bridge the gap for the financially marginalised communities, underserved, and unbanked African population. 

By merging modern technology and African methods of finance, we have created a financial ecosystem that uses the premise of socially responsible lending not only to SMEs but also to their communities. 

Through technology, we have reached the most disadvantaged customers quickly. The use of blockchain has helped us serve a market that was previously ignored by ensuring security and trust from our customers. Intuitive technology has helped us truly serve our customers right and has also helped us enhance African methods of finance. 

The benefits of technology to our business cannot be overstated, we now have a larger geographical reach and we can identify problems and iterate very quickly.

 To amplify our business further, we have adopted the use of natural language processing, something we are continually working on to see how best we can serve our customers that use our service. Additionally, with our adoption of Blockchain technology, we want to provide easy access to formal financial services, safe/transparent savings and quick SME funding at the most affordable rates that ensure SME growth and expansion. 

I am encouraging all entrepreneurs not to be afraid to go where no man has gone. Experiment with emerging tech, try to incorporate from the start as it is cheaper to do so. Be agile, and iterate often to serve your customers right and create impact. Make sure the customer is central to whatever technology you choose to use. Lastly, have fun, life is for living and do what you love. 

Our biggest goal is to work with the startup ecosystem in growing businesses that are making an impact.