# Umba

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/umba

- Industry: Financial Services
- Headquarters: Nairobi, Kenya
- Website: www.umba.com
- Total disclosed funding: $17M
- Latest round: Series A (Jan 28, 2022)
- Investors on record: 16

## About

Umba Inc. is a financial technology company based in Kenya, providing innovative financial solutions tailored for individuals and businesses in East and West Africa, including savings accounts and loan services.Founded in 2019, Umba Inc. operates as a fintech firm focused on delivering financial products and services in Nairobi, Kenya. The firm has successfully completed a total of 4 deals, with its most recent funding round being a Series A that raised USD 15.22 mn led by Costanoa Ventures, alongside other investors. Barry OMahony serves as the founder, while Tiernan Kennedy is the CEO.Umba offers a comprehensive suite of financial products and services tailored for both businesses and individual users in Kenya and Nigeria. The core offerings include savings accounts with competitive interest rates of up to 20% per annum, logbook car loans allowing customers to access loans of up to 70% of their car's value within six hours, asset-backed loans for vehicle purchases, and installment loans with payback periods of up to 12 months. Additionally, Umba provides automated payroll services for businesses, enabling accurate employee compensation and compliance, as well as effective employee management tools. These services are designed to address various financial needs, fostering secure spending, saving, and lending. Umba primarily serves individuals and businesses looking for efficient financial solutions in the East African and West African markets.Umba generates revenue through its diverse financial product offerings, structured to facilitate transactions between the firm and its clients. The company operates on a transactional basis where customers pay for services such as logbook loans, which provide instant cash in exchange for the vehicle's title, and asset finance solutions for vehicle purchases. Additionally, the company's savings accounts yield interest, contributing to its revenue model. For business clients, Umba’s automated payroll service and employee management solutions streamline financial processes, enhancing operational efficiency. Pricing for these services is established within specific frameworks, ensuring clients receive value while Umba maintains a steady revenue stream from these financial engagements.In April 2025, Umba Inc. raised USD 5 mn in venture debt funding from new investor Star Strong Capital to support its expansion across Africa. The company plans to leverage this funding to introduce new products and enhance its service offerings while targeting specific markets for geographic expansion.

## Funding rounds

- Series A, Jan 28, 2022, $15M — ACT Venture Capital, Lux Capital, Ludlow Ventures, Broadhaven Capital Partners, Costanoa Ventures, Frontline, Streamlined Ventures, Palm Drive Capital, Gaingels, Valia Ventures, Everywhere Ventures, Chandaria Capital, Two Culture Capital, MVP Ventures, Banana Capital
- Seed, Dec 17, 2020, $2M — ACT Venture Capital, Ludlow Ventures, Frontline
- Seed, May 6, 2019 — ACT Venture Capital, Bloom Equity, Frontline

## Investors

- ACT Venture Capital (https://capitalatlas.ai/funds/act-venture-capital) — Seed, Series A
- Bloom Equity — Seed
- Frontline (https://capitalatlas.ai/funds/frontline) — Seed, Series A
- Ludlow Ventures (https://capitalatlas.ai/funds/ludlow-ventures) — Seed, Series A
- Lux Capital (https://capitalatlas.ai/funds/lux-capital) — Series A
- Broadhaven Capital Partners (https://capitalatlas.ai/funds/broadhaven-capital-partners) — Series A
- Costanoa Ventures (https://capitalatlas.ai/funds/costanoa-ventures) — Series A
- Streamlined Ventures (https://capitalatlas.ai/funds/streamlined-ventures) — Series A
- Palm Drive Capital (https://capitalatlas.ai/funds/palm-drive-capital) — Series A
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series A
- Valia Ventures (https://capitalatlas.ai/funds/valia-ventures) — Series A
- Everywhere Ventures (https://capitalatlas.ai/funds/everywhere-ventures) — Series A
- Chandaria Capital (https://capitalatlas.ai/funds/chandaria-capital) — Series A
- Two Culture Capital (https://capitalatlas.ai/funds/two-culture-capital) — Series A
- MVP Ventures (https://capitalatlas.ai/funds/mvp-ventures) — Series A
- Banana Capital (https://capitalatlas.ai/funds/banana-capital) — Series A