Koa, a Kenyan fintech company, has introduced a mobile app that aims to digitize the asset management industry by allowing users to save and invest in local mutual funds directly from their phones.
Alexis Roman and Delila Kidanu founded Koa in September, and it is currently in beta testing with a group of users to validate its initial hypotheses and customer demand.
“In addition, there was a scarcity of digital solutions in the East African market that offered users savings and investment options. When it comes to digital financial services in Kenya, consumers have few options aside from M-Pesa.
Koa is working to change that, and with the financial and other help of Catalyst Fund, it is planning a complete launch and then expansion across the East African region by the end of 2021.
The startup, which received pre-seed funding late last year and was recently chosen for the new Catalyst Fund program, aims to disrupt the East African savings and investment industry.