FinCredit
FinCredit is a Kenyan credit-only microfinance institution offering logbook, salary check-off, pension, medical insurance, and USSD-based mobile loans to underserved individual borrowers in Kenya, Uganda, and Liberia.
- Company typePrivate
- Founded2000
- HeadquartersNairobi, Kenya
- Headcount11–50
- GTM typeB2C
- OfferingServices
What FinCredit does
FinCredit (legal entity Fincredit SEZ Limited) is a Kenyan credit-only microfinance institution founded in 2000 (originally as AAR Credit Services Ltd, rebranded in 2014) that provides short- and long-term loan products to underserved borrowers in Kenya, Uganda, and Liberia. The company's core product portfolio includes logbook loans (vehicle-secured, up to KES 2,000,000), salary check-off loans (employer-deducted), pension loans (PostBank-partnered, deducted from monthly pension), medical insurance financing (AAR Insurance-partnered), and Just Cash® mobile loans (USSD-based). The technology stack centers on the proprietary Just Cash® Mobile Loans System accessible via USSD *424# over the Safaricom network, with native M-PESA integration for disbursements and repayments, IPRS integration for KYC, and PostBank account integration for pension and salary-checkoff customers.
The business model is interest-driven, with monthly credit charges ranging from 4% (PostBank and longer-tenure mobile loans) to 10% (standard short-tenure salary advances), supplemented by 10% late repayment penalties and credit life insurance premiums. Go-to-market is hybrid: digital self-service via USSD and online application forms, plus channel partnerships with PostBank branches, employer salary check-off agreements, and AAR Insurance. The company serves four primary customer segments — employed individuals, retirees/pensioners, vehicle owners, and digital/mobile borrowers — with a long-tail customer base of 15,093+ clients served annually. Top 100 Mid-Sized Companies recognition in 2014, 2016, and 2019 establishes credibility, though the firm remains a small operator with 11-50 employees and no disclosed revenue, funding rounds, or institutional investment backing beyond the founder-led AAR Group origins.
FinCredit firmographics
Firmographics- Name
- FinCredit
- Legal name
- Fincredit SEZ Limited
- Website
- https://fincredit.co.ke
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- FinCredit is a Kenyan credit-only microfinance institution offering logbook, salary check-off, pension, medical insurance, and USSD-based mobile loans to underserved individual borrowers in Kenya, Uganda, and Liberia.
- Ownership category
- akta.pro rank
FinCredit industry classification
Industry- Product category
- Microfinance Consumer Lending
- NAICS
- Nondepository Credit Intermediation (5222), Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Microloans & Working Capital Loans (FSAKAGAA)
- akta.pro secondary industries
- Salary-Backed / Payroll-Deducted Secured Loans (FSAKALAI), Secured Microloans (Community/Nonprofit, Collateralized) (FSAKALAJ)
Keywords
Where FinCredit is headquartered
LocationHeadquarters
- HQ city
- Nairobi
- HQ country
- Kenya
- HQ region
- Africa
Offices3 records
Markets served
FinCredit business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Credit Interest/Charges: FinCredit generates revenue primarily through credit charges on loans. Interest rates vary by product: mobile loans at 4-10% per month depending on tenure and product type; logbook loans at rates from 5% per month. Additional fees include administration fees, late repayment charges (10% penalty), and credit life insurance premiums.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Salary Advance and One Month Loan |
| Unit Pricing | Monthly | Three Months Loan |
| Unit Pricing | Monthly | Six Month Loan |
| Unit Pricing | Monthly | One Year Loan (PostBank) |
| Unit Pricing | Monthly | Two Year Loan (PostBank) |
| Unit Pricing | Monthly | Three Year Loan (PostBank) |
| Unit Pricing | Monthly | Logbook Loans |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels5 records
FinCredit product offering
Product offeringCore offering
FinCredit is a credit-only microfinance institution that provides short- and long-term loan products — logbook loans, salary check-off loans, pension loans, medical insurance financing, and USSD-based mobile loans (Just Cash®) — to individual borrowers and small businesses in Kenya, Uganda, and Liberia. Loans are originated and serviced through digital self-service (USSD *424#, mobile), partner branches (PostBank), employer salary-deduction agreements, and an insurance partnership (AAR Insurance), with disbursements and repayments executed via M-PESA and PostBank.
Product overview
FinCredit is a credit-only microfinance institution offering a portfolio of loan products accessible through multiple channels (USSD, mobile app, branch). The core products include Log Book Loans (vehicle-secured, up to KES 2M), Salary Check-off Loans (employer-deducted), Pension Loans (PostBank partnership), and Medical Insurance Financing (AAR Insurance partnership). The company operates the Just Cash® Mobile Loans platform providing standard USSD loans (KES 500-100K) and PostBank-specific loans (KES 500-500K), with products differentiated by tenure, amounts, and pricing. All products share a common mobile-first delivery infrastructure using USSD (*424#) and M-PESA for disbursements.
Differentiator
Problem solved
Functional benefit
Products and services
- Log Book Loans Vehicle-secured credit facility allowing individual customers and small businesses to borrow up to KES 2,000,000 (up to 60% of vehicle value) while retaining use of the car; processed within 12 hours, with interest from 5% per month and flexible repayment up to 24 months.
- Salary Check-off Loan Short- and long-term credit for employed individuals, with repayments deducted directly from the employee's salary through mutual agreements between FinCredit and the employer.
- Pension Loans Instant credit facility for retirees receiving monthly pension remittances via PostBank, accessible 24/7 via USSD with installments automatically deducted from the customer's pension payment.
- Medical Insurance Financing Premium financing in partnership with AAR Insurance, allowing customers to access quality medical insurance by paying premiums through affordable monthly installments applied for online or via [email protected].
- Just Cash® Mobile Loans (Standard) USSD-based mobile loan service accessed via *424# providing loans from KES 500 to KES 100,000 with tenures of 1 to 12 months, disbursed to M-PESA accounts with 4-10% monthly credit charges depending on tenure and product type.
- Just Cash® Mobile Loans (PostBank) PostBank-specific mobile loan service offering loans from KES 500 to KES 500,000 with tenures from 1 to 36 months, disbursed to PostBank accounts with 4% monthly credit charges and repayment deductions handled via PostBank.
Quantifiable outcome
- 15,093+ clients served annually across products
- +3 more outcomes
Companies that use FinCredit
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles5 records
FinCredit technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
FinCredit partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- SafaricomcoreSafaricom is the mobile network operator providing the infrastructure for FinCredit's Just Cash® Mobile Loans USSD service accessible via *424# code. The partnership enables M-PESA integration for loan disbursements and repayments through Lipa Na MPESA PayBill Number 101400.
- PostBank (Kenya Post Office Savings Bank)coreStrategic partnership with Kenya Post Office Savings Bank for pension loan distribution. Retirees receiving monthly pension can access credit facilities through PostBank branches with loans disbursed to PostBank accounts and repayments deducted from pension payments.
- AAR InsurancecorePartnership with AAR Insurance to offer medical insurance financing. FinCredit provides premium financing services allowing customers to pay for AAR medical insurance in affordable monthly installments.
- SanlamminorInsurance partner providing credit life insurance and personal accident insurance coverage for FinCredit loan customers.
- HotpointminorAppliance retailer partnership allowing FinCredit to offer financing solutions to Hotpoint customers for consumer goods purchases.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
FinCredit competitors and assessment
Company assessmentDirect peers
- Zenka Digital Kenya: Zenka is a Kenyan digital lender offering mobile-first microloans to underbanked consumers via USSD and app. It targets the same borrower segments and ticket sizes as FinCredit's Just Cash® mobile loans, making it a close direct competitor in the Kenyan digital microcredit space.
- Tala (formerly InVenture): Tala is a smartphone-based digital lender serving underbanked consumers in Kenya and other emerging markets via mobile data underwriting. It competes for the same digital-first borrower segments FinCredit targets, but with an app-first (not USSD) model and stronger data science.
- Kenya Women Microfinance Bank (KWFT): KWFT is a deposit-taking microfinance bank focused on women entrepreneurs and micro-borrowers across Kenya. It overlaps directly with FinCredit's microenterprise and small-ticket loan book, but operates on a group-lending vs. FinCredit's check-off/logbook model.
- M-Shwari: M-Shwari is Safaricom's flagship mobile micro-lending and savings product (run with NCB). It is the most direct peer to FinCredit's Just Cash® USSD mobile loans, competing for the same M-PESA-based Kenyan borrowers with similar small-ticket, short-tenure credit and mobile-money disbursement.
- Branch International: Branch offers instant digital loans to consumers and SMBs in Kenya and across Africa via mobile app. Comparable to FinCredit in targeting salaried and underbanked Kenyans with mobile-first instant credit, though Branch skews toward smartphone-based underwriting.
Others
- Oiko Credit: Oiko Credit is a global cooperative investor in microfinance institutions, and a historical counterparty to FinCredit (2011/2013 awards). It is comparable as a capital/funding peer and as a signal of FinCredit's positioning within the global MFI capital ecosystem.
Broad incumbents
- PostBank Kenya: PostBank is both a FinCredit partner (pension loan distribution) and a broader incumbent in Kenyan savings, salary, and pension credit. It is comparable as a competing retail microfinance-style lender in the same segments, with the advantage of a regulated deposit base.
- Equity Bank Kenya: Equity is Kenya's largest microfinance-oriented bank (Equity Microfinance) with deep reach into salary, SME, and pension credit. It is a broad incumbent competitor to FinCredit across all major products, with much larger scale and balance-sheet funding.
Regional players
- Jumo: Jumo is an embedded finance / lending-as-a-service platform operating across East Africa (Tanzania, Kenya, Uganda) and other emerging markets. It is comparable to FinCredit as a regional digital credit provider reaching unbanked borrowers via mobile and partnerships, though Jumo is platform- rather than balance-sheet-led.
- Car & General (logbook / asset-finance peers): Car & General and similar Kenyan asset-finance / logbook lenders (e.g., HFC, British American Asset Finance) compete directly with FinCredit's vehicle-secured logbook loans, offering comparable 5–8% per month pricing and 24-month tenures against vehicle collateral.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
FinCredit social profiles
Digital presenceFinCredit financial estimates
Financial estimateRevenue estimate
Valuation estimate
FinCredit leadership team
Management profileNumber of profiles
Profiles7 records
FinCredit funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FinCredit 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 FinCredit
What does FinCredit do?
FinCredit is a credit-only microfinance institution that provides short- and long-term loan products — logbook loans, salary check-off loans, pension loans, medical insurance financing, and USSD-based mobile loans (Just Cash®) — to individual borrowers and small businesses in Kenya, Uganda, and Liberia. Loans are originated and serviced through digital self-service (USSD *424#, mobile), partner branches (PostBank), employer salary-deduction agreements, and an insurance partnership (AAR Insurance), with disbursements and repayments executed via M-PESA and PostBank.
Is FinCredit a public or private company?
FinCredit is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was FinCredit founded?
FinCredit was founded in 2000. It employs 11 to 50 people.
Where is FinCredit based?
FinCredit is headquartered in Nairobi, Kenya, in the Africa region.
How does FinCredit make money?
One revenue line is on record: credit Interest/Charges.
Who are FinCredit's main competitors?
Direct peers on record are Zenka Digital Kenya, Tala (formerly InVenture), Kenya Women Microfinance Bank (KWFT), M-Shwari and Branch International. Oiko Credit is listed as an others. Broad incumbents are PostBank Kenya and Equity Bank Kenya. Regional players are Jumo and Car & General (logbook / asset-finance peers).
Does FinCredit have an API?
No public API is recorded for FinCredit.
What industry is FinCredit in?
FinCredit's product category is Microfinance Consumer Lending. Its primary akta.pro industry code is FSAKAGAA, Microloans & Working Capital Loans, with a secondary code of FSAKALAI, Salary-Backed / Payroll-Deducted Secured Loans. Its NAICS code is 5222 and its SIC code is 6141.