Ugandan fintech, Zofi Cash, has raised USD 1 Million in a pre-seed round from Advancly. The funding round, which is purely debt, will see Zofi Cash extend its salary advance services to cover a waiting list of 20,000 employees. Zofi Cash was founded in October 2021 by Paul Kirungi, the CEO and Gordon Turibamwe as the CTO, a pair of Ugandans who returned to Uganda after a decade in the USA with a goal to end the 30-day pay cycle. “We partner with employers who want to extend this (salary advances) to their employees,” Paul tells CEO East Africa in…
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