Zoona is designed to address the needs of the most remote and unbanked of citizens in countries like Zambia, Malawi and other African countries.

Basic Information

Zoona is a distribution business that enables the drive of young entrepreneurs and the power of cutting-edge technology to bring safe and reliable financial services to underserved communities all over Africa. Zoona, which is carrier agnostic and doesn't require customers to have a mobile wallet or even a mobile phone, is designed to address the needs of the most remote and unbanked of citizens: 20% of its customers are farmers or live in rural communities. It works by establishing a network of far-flung agents, who process transactions on behalf of consumers for a small fee. The company, which operates as a social enterprise and has received funding from the IFC and Omidyar Network, has a dual mission of supporting entrepreneurship: Its some 2,000 agents are franchisees who are given branded kiosks, business training, and funds to cover their working capital, and are covered for any losses in the first six months. See more

Legal Name

:

Zoona Zambia

Headquarters

:

Lusaka, Lusaka, Zambia

Founding Date

:

2009

No. of Employees

:

151 to 250

Core Team

:
1.

Brett Magrath

Co-Founder & CCO

2.

Brad Magrath

Co-Founder & Director

3.

Mike Quinn

Co-Founder & CEO

Funding

Total Funding

$20.0M

Investors

:

1.

Patrick Pichette

2.

Omidyar Network

3.

Quona Capital

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