Akiba Digital raises $1.1M pre-seed round led by Expert DOJO and Oui Capital
Risk decisioning platform using alternative data for credit scoring, identity verification, and fraud detection across Africa.
- Johannesburg, South Africa
- Founded 2017
- 11–50 employees
- akibadigital.com ↗
How it's scored
A transparent measure of the public information and capital behind a deal — not a rating of its merits.
- Round size10
- Stage8
- Investor backing20
- Recency0
- News coverage10
- Amount
- $1.1M Reported across multiple sources as over $1.1M / R15M; some databases report total raised between $1.3M–$3.1M including
- Round
- Pre Seed
- Announced
- 19 Jul 2021
- Valuation
- —
- Total raised
- $1.8M to date, reported
- Lead investors
- Expert DOJO, Oui Capital
About the deal
In July 2021, Akiba Digital announced a $1.1 million pre-seed round led by Expert DOJO and Oui Capital, with participation from Basecamp Fund, Soma Capital, Hustle Fund, Future Africa, LoftyInc Capital Management, and angels (including a former PayPal executive). The company had previously raised smaller amounts, including ~$100K in 2020 and a Google for Startups grant.
Proceeds were allocated to grow market share in South Africa, connect over 20,000 SMEs to lenders, develop the platform (including Insyts), and evaluate expansion into additional African markets. At the time, the company reported month-on-month revenue growth and positioned itself as addressing the challenge that ~80% of African SMEs and individuals lack traditional credit scores.
As of 2026, Akiba Digital remains active as a Lofty Inc portfolio company, with its platform focused on API-driven verification, alternative scoring, and fraud tools serving financial institutions across Africa. Later reports mention possible additional pre-seed or seed investment from Alumni Ventures in 2023, contributing to varying total raised figures across databases.
Key highlights
- Provides configurable risk decisioning engine aggregating 100+ datasets for credit, identity, and fraud decisions
- Core product AkibaOne offers KYC/KYB, alternative credit scoring, AML/PEP screening, and bank statement analysis via OCR
- Reported clients include Standard Bank, Absa, and Shoprite
- Serves lenders and fintechs targeting thin-file SMEs and underbanked consumers
- LoftyInc Capital Management invested in the 2021 round and lists the company as an active portfolio holding
- Founded in Johannesburg; 11-50 employees as of recent LinkedIn data
- Additional non-dilutive support from Google for Startups
About Akiba Digital
Akiba Digital provides a B2B SaaS risk decisioning engine and API suite (AkibaOne) that aggregates alternative, traditional, and compliance data sources to enable faster, more inclusive credit and risk decisions. The platform supports customer verification (KYC/KYB), alternative credit scoring, affordability analysis, fraud intelligence (including AML/PEP and sanctions screening), and ongoing risk monitoring. It primarily serves lenders, banks, fintechs, and retailers in South Africa, targeting thin-file SMEs and consumers excluded from traditional credit bureaus. The company also offers tools like Insyts for SME financial management and funding applications.
Clients reportedly include major institutions such as Standard Bank, Absa, and Shoprite. It operates a subscription-based model with plans starting around R1,000 per month. The company is active and part of the Lofty Inc VC portfolio.
Founders: Tebogo Mokwena (Co-founder & CEO), Kamogelo Kekana (Co-founder)
Use of funds
- Expand market share and operations in South Africa
- Scale platform to connect 20,000+ SMEs with lenders
- Develop and launch SME financial management tool (Insyts)
- Assess and prepare for expansion into additional African markets (e.g. Kenya, Rwanda, Zambia)
- Enhance product features including fraud intelligence and alternative data integration
Considerations
- High competition in African fintech risk and data aggregation space from both local and international players
- Regulatory changes around data privacy, credit bureaus, and open banking in multiple jurisdictions
- Dependency on third-party data sources and potential challenges in data quality/availability across African markets
- Currency and macroeconomic volatility affecting lender clients and SME repayment capacity
- Path to profitability and scalability not fully detailed in public sources; many early-stage fintechs face extended cash burn
In the news
- South African Fintech Startup Akiba Digital raises $1.1m pre-seed funding The Ouut · 17 Jul 2021
- Fintech start-up raises R15m to lower barriers to SME funding ITWeb · 19 Jul 2021
- South African Fintech Akiba Digital Raises USD 1.1 Mn Pre-Seed Funding Weetracker · 19 Jul 2021
- SA lending startup Akiba Digital raises $1.1m pre-seed funding for scale Oui Capital · 21 Jul 2021
- Akiba Digital - Products, Competitors, Financials, Employees, Headquarters Locations CB Insights · 24 Jun 2024
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