Flow Global: A Winner of the Fintech for Good Award 2023
Flow Global Limited (“Flow”), a Fintech company that provides ecosystem-agnostic digital growth capital solutions to small merchants in Uganda and Rwanda, was awarded the “FinTech for Good” award at the prestigious Fintech Awards London 2023. This is yet another recognition of its ability to drive impact in emerging markets at the same time as financial returns. The Fintech commenced operations in 2018 and is on a rapid drive to expand across Africa.
Flow works with merchants offering mobile money and agency banking services (“agents”), who lack the digital working capital (e-money float) to meet ever-increasing customer demand. This is a large and untapped market which has been lacking innovative financial solutions. In Uganda and Rwanda alone, there are over 400 000 mobile money merchants serving over 50 million end users. The number of end users rises to >10 million mobile money over 605 million for sub-Saharan Africa, which is Fintech’s current expansion focus.
Flow uses the merchants’ transaction-level data to provide them with customized digital loans. At the heart of Flow’s operations is its cutting-edge proprietary technology called the Flow Liquidity Engine (“FLE”), which it uses to execute a range of operations, including client data analytics, KYC checks, credit scoring and decisioning, risk management, float advance management and portfolio analytics, and digital field force management. Flow’s USP is that the platform is entirely mobile money provider agnostic and therefore has the capacity to meet all of the merchant’s growth financing needs, something which its competitors lack. Flow is unique in terms of the customer value it delivers to mobile money agents: the impact is transformational, with 69% of merchants seeing an improvement in their revenue within the first month and a 40% growth on average over six months.
Fintech Awards London is an event held during the London Fintech Week for recognise, attracting and investing in innovative and high-impact Fintech companies and professionals. Flow was the winner in the Fintech for Good category and was among a final shortlist of four finalists.
Source:
The Fintech Times, https://thefintechtimes.com/fintech-awards-london-2023-winners-revealed/
Flow Global, https://www.flowglobal.net/company/