Kayko closes $1.2 million seed round to expand financial services platform

Rwandan company provides point-of-sale and data management tools to small businesses seeking credit access

Kayko, a financial technology company based in Rwanda, has secured $1.2 million in seed funding to expand its platform that connects small businesses with financial services through data collection and management.

The company, established in 2021 by brothers Crepin and Kevin Kayisire, offers point-of-sale systems, inventory tracking, expense management, and payment processing tools. The platform currently serves 8,500 small and medium enterprises (SMEs) in Rwanda for bookkeeping, inventory management, and tax compliance functions.

According to the founders, the platform addresses a gap in financial data availability for African SMEs. "Cash moves, sales happen, taxes are paid, yet banks still can't 'see' the business," they stated, describing the challenge faced by businesses seeking loans or investment without documented financial records.

The seed round includes participation from Burrow Capital, Luxembourg Development Agency, and Hanga Ignite by BRD & develoPPP Ventures. The company did not disclose individual investment amounts or valuation details.

Kayko describes its platform as a "micro-ERP and data layer" that captures sales, expenses, inventory, and compliance information. This data collection enables credit scoring and facilitates access to working capital and other financial products for businesses that typically operate without formal financial documentation.

The funding will be allocated toward infrastructure development, expansion of the company's lending and credit scoring capabilities, and enhancement of its data analytics features. The founders indicated the investment allows them to deepen their service offerings, though specific expansion timelines were not provided.