Zimbabwean fintech startup Cashlinq has launched a baking-as-a-service platform to enable businesses and startups across the continent to offer superior banking solutions.
Cashlinq, a Zimbabwean fintech startup has developed a software-as-a-service platform that can be used to power digital banks, MNO wallets, microfinance systems, or the low KYC accounts and wallets of traditional banks. Established in 2022 by four experienced co-founders after they discovered how expensive foreign-based solutions did not meet the needs of unique and volatile African markets.
In an interview, Claslinq CEO, Tendai Mugovi said “Africa, and Zimbabwe in particular, is a very volatile market. Things change very fast, from regulatory to consumer needs and preferences. To this regard, most financial institutions have challenges in keeping up with the trends and developments thereby hindering innovation and bigger success.”
“The available solutions also come at mouth-watering prices, and most providers prefers USD. This poses great financial distress to the financial institutions. The market wants a flexible and affordable solution. This is the gap we are on a mission to address.”
Bootstrapped thus far, Cashlinq is built on the latest ISO payment standard and as such says it can smoothly integrate its system anywhere in the world.
That being said, it is now looking to mostly target its superior banking solutions to the KINGS of Africa’s digital economy – Kenya, Ivory Coast, Nigeria, Ghana and South Africa.
The software-as-a-service company said it will monetize from small commissions on all transactions facilitated by its system.
