What Flexpay does

Flexpay (Flexpay Technologies Limited, a product of Flexitech Group Limited) operates a save-now-buy-later (SNBL) lay-by platform headquartered in Nairobi, Kenya. The company enables Kenyan consumers to reserve goods from partner merchants and pay for them through flexible installment savings over a period of up to 90 days at 0% interest, collecting the items only after full payment. Unlike a BNPL lender, Flexpay does not extend credit — customers fund purchases themselves via a savings mechanism, which insulates the company from credit risk and regulatory classification as a digital lender. The platform is accessible through a multi-channel stack: a mobile app, a USSD short code (*384*30#), the corporate website, the Flexpay Marketplace, and the Flexpay Woo-Plugin for WooCommerce merchants; payments are processed through M-PESA mobile money via PayBill 555699.

The product portfolio extends beyond core lay-by into vertical savings products: Flexpay Goals (individual goal-based savings), Flexpay Chama (virtual 6-month rotating group savings pools), Flex Travel (travel savings), Christmas Kapu (seasonal savings), Jaza-ka Na Flexpay (supermarket wallet), and Corporate Shopping Voucher (B2B vouchers). The merchant distribution layer spans anchor retailers including Naivas, Electromart, Toolshack, Roto, Anchor-Tech, and Magunas, alongside a brand catalog covering Samsung, LG, Hisense, Haier, TCL, Von, Vitron, JBL, Midea, Mika, Nunix, Ramton, and others. A public REST API (V2) and the WooCommerce plugin enable technical integrations with external merchants.

Flexpay's revenue model is transaction-fee based and B2C-facing for users, with monetization coming from merchant partnership facilitation rather than customer fees (no interest, no platform fees). The only direct consumer charge is a 7% cancellation fee on cash refunds when customers abandon a lay-by and request money back rather than a shopping voucher. Capital history includes participation in Techstars (2017), LoftyInc Capital (2021), Acasia Group and Expert Dojo (2022), Google for Startups (2022), Renew Capital Angels (2023), and the Ecobank Fintech Challenge (2023), for total disclosed funding of roughly $275,000. The team is small (1-10 employees) and the company is privately held, with operating geographies stated as East Africa.

Name

Flexpay

Legal name

Flexpay Technologies Limited

Website

https://flexpay.co.ke

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Flexpay is a Nairobi-based save-now-buy-later platform enabling Kenyan consumers to reserve goods at partner merchants and pay through 0%-interest lay-by installments of up to 90 days via M-PESA, without extending credit.

Ownership category

akta.pro rank

Product category

Buy Now Pay Later Platform

NAICS

Sales Financing (52222)

SIC

Finance Services (6199)

akta.pro primary industry

BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG)

akta.pro secondary industry

Embedded Wallets (Platforms & Marketplaces) (FSAMAEAM)

Keywords

• Save now buy later
• Lay-by payment platform
• Installment savings service
• Merchant payment solutions
• Goal-based savings

Headquarters

HQ city

Nairobi

HQ country

Kenya

HQ region

Africa

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Merchant Partnership Facilitation: Flexpay generates revenue by facilitating transactions between customers and merchant partners. The platform is free for customers (0% interest, no platform fees), with monetization coming from merchant relationships and transaction volume.
2. Lay-By Cancellation Fee: A 7% cancellation fee is deducted from amounts paid if customers request cash refunds instead of shopping vouchers upon Lay-By cancellation.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Flexpay operates a save-now-buy-later lay-by platform that lets Kenyan consumers reserve products from partner merchants and pay the balance in installments over up to 90 days at 0% interest, with no credit checks, paperwork, or late fees. Payments are made via M-PESA mobile money and the service is accessed through a mobile app, USSD (*384*30#), website, marketplace, and merchant integrations. The platform also enables goal-based savings, group (chama) savings, and corporate shopping vouchers.

Product overview

Flexpay operates as a save-now-buy-later (SNBL) financial technology platform built on a layered architecture comprising a core Lipia PolePole payment engine, multiple consumer-facing products, and merchant integration tools. The core Flexpay Lipia PolePole platform enables customers to reserve products from partner merchants and pay through flexible installment savings over up to 90 days at 0% interest. This core is extended through specialized verticals including Flexpay Goals (individual goal-based savings), Flexpay Chama (group savings pools), Flex Travel (travel bookings), Christmas Kapu (seasonal savings), Jaza-ka Na Flexpay (supermarket wallet), and Corporate Shopping Voucher (B2B vouchers). The platform is accessible via a mobile app, USSD (*384*30#), the Flexpay Marketplace, and integrates with WooCommerce through the Flexpay Woo-Plugin. A public API (V2) enables merchant partner integrations, while the 52 Week Challenge Calculator and Flexpay Foundation provide supplementary tools and social impact programs.

Differentiator

Problem solved

Functional benefit

Brands

• Flexpay Goals: Goal-based savings feature allowing customers to set financial targets for specific purchases and save towards them incrementally.
• Flexpay Chama
• Lipia PolePole
• Flex Travel
• Christmas Kapu
• Jaza-ka Na Flexpay
• Flexpay Foundation
• Corporate Shopping Voucher

Products and services

• Flexpay Lipia PolePole
• Flexpay Goals
• Flexpay Chama
• Flex Travel
• Christmas Kapu
• Jaza-ka Na Flexpay (Supermarket Wallet)
• Corporate Shopping Voucher
• Flexpay Marketplace
• Flexpay Mobile App
• Flexpay API V2
• Flexpay WooCommerce Plugin

Quantifiable outcome

• Products offered at 0% interest with no extra cost
• +2 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and major.

• NaivascoreChannel Partner/ Reseller/ DistributorNaivas supermarket is a major merchant partner offering Flexpay lay-by services for household goods and electronics in their retail stores.
• ElectromartmajorChannel Partner/ Reseller/ DistributorElectromart electronics retailer partners with Flexpay to offer installment payment options for electronics and appliances.
• ToolshackmajorChannel Partner/ Reseller/ DistributorToolshack hardware and tools retailer offers Flexpay lay-by services for tools and equipment purchases.
• M-PESA (Safaricom)coreTechnology or IntegrationM-PESA mobile money integration via PayBill Number 555699 enables customers to make flexible installment payments and receive disbursements through Kenya's leading mobile money platform.
• Multiple Consumer Electronics BrandsmajorChannel Partner/ Reseller/ DistributorBrand partners including Samsung, LG, Hisense, Haier, TCL, Von, Vitron, JBL, Midea, Mika, Nunix, Ramton, SCL, Solstar, Vision Plus, and Armco offer products through Flexpay's lay-by platform for purchase via installments.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PayJoy: Global smartphone financing platform operating in emerging markets with pay-over-time mechanics. Comparable to Flexpay through its installment-based consumer electronics financing model and merchant/retailer integrations.
• M-KOPA: Kenya-based pay-as-you-go financing platform primarily for solar home systems and smartphones. Most directly comparable to Flexpay given similar small-ticket, M-PESA-integrated, no-traditional-credit model serving Kenyan mass-market consumers.
• Lipa Later: Kenyan BNPL platform enabling consumers to pay for retail goods in installments. Closely comparable to Flexpay on customer segment (Kenyan retail consumers), merchant integration model and product category overlap.
• Aspira: East African Save Now Buy Later platform for solar and household goods, similar in name and structure to Flexpay. Direct competitor in the documentation-free, lay-by-style installment segment for unbanked Kenyan consumers.

Broad incumbents

• Tala: Kenya-headquartered digital lender using mobile data to underwrite consumer credit. Comparable to Flexpay via Kenyan consumer financial services focus, though Tala is credit-led whereas Flexpay is savings-led.
• Branch International: Pan-African digital lending platform with a large Kenyan user base. Comparable on consumer financial inclusion positioning and mobile-first delivery, though extending credit rather than lay-by savings.
• Carbon (formerly OneFi): Nigerian digital lender with operations in Kenya. Comparable through overlapping consumer lending and mobile-first distribution to underbanked users, similar to Flexpay's target demographic.
• Safaricom (M-PESA): Operator of M-PESA, Kenya's dominant mobile money platform and Flexpay's core payments partner. Comparability is structural: any shift in M-PESA commercial terms, fees or APIs would materially affect Flexpay's unit economics.
• Equity Bank: Large Kenyan commercial bank with a deep retail and SME footprint, including mobile and agency banking. Comparable through the shared mass-market Kenyan consumer segment and growing suite of digital installment products.

Regional players

• Wasoko (formerly Sokowatch): East African B2B e-commerce and embedded finance platform serving informal retailers. Comparable via its merchant-embedded payments and savings functionality in Kenya, though operating B2B rather than B2C.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/flexpayke

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds6 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flexpay