Kili Ventures backs B2B payments startup Jenzy

Kili Ventures has invested in Jenzy, a B2B payments infrastructure company for African businesses, African Startups reported on 7 September. The amount was not disclosed. It is Kili Ventures' fourth investment.

Five rails, one payment

Jenzy connects banking networks, mobile money and regulated stablecoins. Each payment is routed over one of five rails, SWIFT, mobile money, stablecoin, local clearing or T-bills, depending on which is working at the time. If a rail fails mid-transfer, the payment is rerouted while keeping its promised arrival time, and businesses can track each payment's route and status. Funds are held with licensed, audited partners.

The problem it targets is significant: roughly one in four B2B payments in Africa's trade market fails or stalls.

Jenzy operates in Nigeria, Kenya, Ghana, Tanzania, Uganda, Ethiopia and South Africa, connecting 12 African currencies with six reserve currencies and two regulated stablecoins across more than 40 live currency pairs. It was co-founded by Bongani Malaba, Eniola Ajuwon, Daniel Kinuthia and Faisal Patel.

The investor

Kili Ventures focuses on early-stage companies in emerging markets, starting with Africa, and typically invests through special purpose vehicles. It cites strong early traction and zero customer churn at Jenzy, which it said "is building critical payment infrastructure for African businesses".

At a glance

• Company: Jenzy
• Raised: Undisclosed
• Investor: Kili Ventures (its fourth investment)
• Markets: Seven African countries
• Network: 40+ live currency pairs