Furaha
Furaha is a Dubai-headquartered fintech intermediary that routes Ugandan parents to partner bank lenders for purpose-driven loans, primarily school fees disbursed directly to schools via mobile money and school fee aggregator integrations.
- Company typePrivate
- Founded2023
- HeadquartersKampala, Uganda
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Furaha does
Furaha is a financial technology company operating as a software-based intermediary that connects borrowers with partner lending institutions for purpose-driven financing, primarily school fees loans in Uganda. Founded in 2023 and headquartered at the Dubai International Financial Centre, with operations in Kampala, Furaha Finserve Uganda Limited is registered as a private limited company in Uganda (PDPO-202401-2856) and explicitly does not lend, take deposits, or operate as a payment service provider — it earns fees by routing loan demand through partner banks and embedding the workflow into telco and school-aggregator rails. Its product suite spans the School Fees Loan (flagship), Power & Electricity Loans, and Business Loans.
The platform is accessible via a proprietary iOS/Android app and a USSD channel (*165#) integrated with MTN Mobile Money and Airtel Money. Its technology stack includes an AI-driven credit decisioning engine that processes structured alternative data (mobile money transactions, Credit Reference Bureau records, school fee payment histories) for instant eligibility assessment, complemented by computer-vision KYC using facial recognition with liveness detection, verified against Uganda's NIRA (National ID) and NITA databases. Furaha integrates at the workflow layer with school fee aggregators (SchoolPay, SurePay, PegPay), enabling direct disbursement from bank lenders to schools and eliminating diversion risk.
Furaha generates revenue through three streams: loan processing fees (3% on App-based originations, 5% on USSD-based), interest income (5% per month on original consolidated principal over a fixed 90-day term), and late payment penalties (5% on overdue amounts after a 3-day grace period). Distribution combines a self-serve product-led channel (app + USSD) with a partner-led channel comprising three bank lenders (Opportunity Bank, DTB Uganda, Cairo Bank Uganda), two telcos (MTN, Airtel), and three school fee aggregators. Since 2023, Furaha reports having supported 3,000+ parents, disbursed UGX 3B+ to schools, and partnered with 1,000+ schools; the company's stated ambition is to reach 10 million children across Africa over five years.
Furaha firmographics
Firmographics- Name
- Furaha
- Legal name
- Furaha Finserve Uganda Limited
- Website
- https://furahafinancial.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Furaha is a Dubai-headquartered fintech intermediary that routes Ugandan parents to partner bank lenders for purpose-driven loans, primarily school fees disbursed directly to schools via mobile money and school fee aggregator integrations.
- Ownership category
- akta.pro rank
Furaha industry classification
Industry- Product category
- Digital Lending Platform
- NAICS
- Mortgage and Nonmortgage Loan Brokers (522310)
- SIC
- Loan Brokers (6163)
- akta.pro primary industry
- In-School Tuition & Fee Financing (Short-term/Bridge) (FSAKAEAG)
- akta.pro secondary industries
- Student Loan Intermediation & Refinancing (FSAEAEAL), Student Loan Marketplace Lending (FSAKAHAE)
Keywords
Where Furaha is headquartered
LocationHeadquarters
- HQ city
- Kampala
- HQ country
- Uganda
- HQ region
- Africa
Offices2 records
Markets served
Furaha business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Loan Processing Fees: Furaha charges processing fees on disbursed loan amounts: 3% for App-based applications and 5% for USSD channel applications. These fees are charged per loan disbursement.
- Interest Income: Loans carry a fixed interest rate of 5% per month on the original total consolidated principal loan amount throughout the loan period. Interest accrues from the date of disbursement until full repayment.
- Late Payment Penalties: A penalty of 5% is applicable on overdue instalment amounts that remain unpaid after a grace period of 3 days following the 90-day loan term.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | School Fees Loan - App Channel |
| Transaction based/ take rate | Pay-as-you-go | School Fees Loan - USSD Channel |
| Transaction based/ take rate | Pay-as-you-go | Loan Top-up |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels5 records
Furaha product offering
Product offeringCore offering
Furaha operates a software-based intermediary platform that connects parents with partner banks to access school fees loans, with AI-driven credit decisioning, instant approval, and direct disbursement of funds to schools via integrated school fee aggregator platforms. The platform is accessible through a proprietary mobile app (iOS/Android) and a USSD channel (*165#) for feature-phone users, with repayment handled via MTN Mobile Money and Airtel Money.
Product overview
Furaha operates as a purpose-driven financial technology platform that serves as a digital intermediary connecting borrowers with partner lending institutions. The core platform is accessible via a mobile app (iOS/Android) and USSD channel (*165#). The flagship product is the School Fees Loan, which enables parents to borrow for education expenses and repays over 3 months. The platform also offers Power & Electricity Loans and Business Loans, all delivered through a network of partner banks (Opportunity Bank, DTB Uganda, Cairo Bank Uganda) and mobile money providers (MTN, Airtel), with direct disbursement to schools via school fee aggregator platforms (SchoolPay, SurePay, PegPay). Furaha's technology platform handles customer onboarding, AI-driven credit scoring, loan disbursement, and collections.
Differentiator
Problem solved
Functional benefit
Products and services
- School Fees Loan Digital loan product enabling parents to borrow funds to pay school fees for children at Pre-Primary, Primary, and Secondary education levels. Loans are disbursed directly to schools via integrated school fee aggregator platforms (SchoolPay, SurePay, PegPay), with repayment over 3 months via weekly or monthly instalments through MTN Mobile Money or Airtel Money. Minimum UGX 200,000 and maximum UGX 3,500,000 per loan, with up to 4 children covered under a single consolidated repayment schedule.
- Power & Electricity Loan
Quantifiable outcome
- 3,000+ parents supported to keep children in school consistently since 2023
- +6 more outcomes
Companies that use Furaha
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles2 records
Furaha technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability4 records
Feature4 records
Furaha partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- SurePaycoreSurePay is a leading school payments aggregator. Partnership expands access to affordable school fees financing, allowing parents paying through SurePay to access purpose-based loans instantly at point of payment.
- MTN Mobile Money UgandacoreMTN Mobile Money provides the payment infrastructure for loan disbursement and repayment collection. Furaha is accessible via MTN USSD code (*165*80#) and leverages MTN's mobile money wallet for fund transfers.
- SchoolPay (Service Cops Limited)coreSchoolPay is a school fee payment platform owned by Service Cops Limited. Partnership enables parents to access Furaha loans at point of payment on SchoolPay, with instant verification of student and fee details.
- PegPay (Pegasus Technologies)corePegPay payment platform owned by Pegasus Technologies enables school fee loan disbursements. Listed as one of the school fee aggregators through which parents can access Furaha loans.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Furaha competitors and assessment
Company assessmentDirect peers
- Branch International: Mobile-first digital lender providing small-ticket consumer loans to underbanked customers across Africa and other emerging markets. Closely comparable business model: instant underwriting on alternative data, mobile disbursement, and short-tenor small-dollar loans.
- FairMoney: Nigeria-headquartered mobile lender offering small-ticket consumer and business loans to underserved African customers. Comparable customer segment, alternative-data credit scoring, and mobile money disbursement model.
- Jumo: Digital banking and credit platform distributing loans through bank and telco partners across Africa and Asia. Furaha's intermediary model - lending capital supplied by banks, distributed via telco rails - closely mirrors Jumo's structure.
- M-Kopa: Kenya-based pay-as-you-go solar provider that extends purpose-driven consumer credit via mobile money to underbanked African customers. Most directly comparable to Furaha as a purpose-bounded digital lender serving the missing middle via telco wallets and alternative-data underwriting.
- Carbon (formerly Paylater): Nigeria-licensed digital lender offering consumer and SME loans through mobile channels. Comparable alternative-data underwriting, mobile-led origination, and African emerging-market customer base to Furaha.
- Tala: Mobile lending platform serving underbanked consumers in Kenya and other emerging markets using alternative data and instant disbursement. Comparable product mechanics (instant digital credit, mobile money rails, AI underwriting) and customer profile to Furaha.
Others
- Cellulant: Pan-African digital payments platform connecting banks, mobile money operators, and merchants. Operates adjacent infrastructure that complements or could substitute for parts of Furaha's payment integration stack.
- MFS Africa (Onafriq): Pan-African payments network enabling mobile money interoperability across operators. Furaha's MTN and Airtel integrations depend on similar payment-rail infrastructure, and Onafriq's broader cross-border ambitions align with Furaha's stated multi-country expansion.
Broad incumbents
- Letshego Africa Holdings: Pan-African inclusive finance group providing consumer and microfinance loans across multiple African markets. Larger and broader portfolio than Furaha but operates in the same small-ticket consumer credit space serving underbanked customers.
- ASA International: International microfinance group operating across Africa and Asia with small-ticket consumer and SME lending. Comparable customer base (missing-middle, underbanked) but delivers credit through traditional group-lending rather than mobile-first channels.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Furaha social profiles
Digital presenceFuraha compliance and trust
Trust signalCompliance1 record
Furaha financial estimates
Financial estimateRevenue estimate
Valuation estimate
Furaha leadership team
Management profileNumber of profiles
Profiles11 records
Furaha funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Furaha M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Furaha
What does Furaha do?
Furaha operates a software-based intermediary platform that connects parents with partner banks to access school fees loans, with AI-driven credit decisioning, instant approval, and direct disbursement of funds to schools via integrated school fee aggregator platforms. The platform is accessible through a proprietary mobile app (iOS/Android) and a USSD channel (*165#) for feature-phone users, with repayment handled via MTN Mobile Money and Airtel Money.
Is Furaha a public or private company?
Furaha is a private company. It is classified as venture growth investor backed and is currently operating.
When was Furaha founded?
Furaha was founded in 2023. It employs 11 to 50 people.
Where is Furaha based?
Furaha is headquartered in Kampala, Uganda, in the Africa region.
How does Furaha make money?
Three revenue lines are on record. Loan Processing Fees are the primary driver. The others are interest Income and late Payment Penalties.
Who are Furaha's main competitors?
Direct peers on record are Branch International, FairMoney, Jumo, M-Kopa, Carbon (formerly Paylater) and Tala. Others are Cellulant and MFS Africa (Onafriq). Broad incumbents are Letshego Africa Holdings and ASA International.
Does Furaha have an API?
No public API is recorded for Furaha.
What industry is Furaha in?
Furaha's product category is Digital Lending Platform. Its primary akta.pro industry code is FSAKAEAG, In-School Tuition & Fee Financing (Short-term/Bridge), with a secondary code of FSAEAEAL, Student Loan Intermediation & Refinancing. Its NAICS code is 522310 and its SIC code is 6163.