Editor’s note: African-Startups is a sister publication of EU-Startups, bringing trusted coverage of startups, venture capital, and innovation across Africa.
Kenyan FinTech startup Sevi has received undisclosed financial backing from Netherlands-based investor Oxano Capital. By joining Oxano Capital, Sevi will be able to widen access to working capital for micro and small businesses across the country.
Founded in 2018 by Dutch entrepreneurs Walter aan de Wiel and Bartel Verkruijssen, Sevi is a culmination of years of expertise in social enterprise, technology, and innovation. For many micro and small businesses across Kenya and Africa, access to working capital is non-existent, and Sevi wants to fix this very gap with its technology-driven digital platform.
For small businesses struggling to secure affordable financing despite steady customer demand, Sevi has built an “Order Now, Pay Later” digital platform that connects suppliers with retailers and provides financing exactly where it is needed: at the point of purchase. This allows retailers to stock inventory without collateral while suppliers are paid immediately.
The startup’s technology is embedded within existing distribution networks, with agents already visiting retailers using Sevi’s platform to onboard, support, and assess customers. The company holds a Central Bank of Kenya digital credit licence, making it one of the country’s first licensed digital credit providers, and runs automated credit scoring and KYC systems that Oxano says have produced consistently low default rates.
Founded by Hans Walhout, Bram Quaak, and Peter van Dillenn, Oxano Capital is a sub-Saharan Africa-focused investor backing manufacturing companies, businesses in the agro-processing sector, and technology-driven enterprises. The firm says its interest in Sevi went beyond the strength of its technology and leadership team to the scale of the problem it addresses.
“Sevi serves informal shops, kiosks, mobile vendors, and small pharmacies that provide essential goods to millions of consumers every day,” the firm said in a blog post.
This aligns with the sustainable impact goals of the firm, with Sevi contributing to SDG 9 by improving access to financial services and integrating small businesses into formal value chains and markets, supporting SDG 5 by expanding credit access for women entrepreneurs and SDG 8 by helping small businesses create jobs and generate sustainable income.
Since its inception, Sevi has already established a strong foundation in Kenya and is able to scale both commercially and operationally. It claims to have over 7,000 retailers and 40+ suppliers on its platform. With 55% women micro-entrepreneurs, the startup has disbursed more than $7.7 million in credit.
With Oxano Capital’s backing, which is known for co-entrepreneurship, Sevi aims to expand its reach by strengthening access to finance for underserved entrepreneurs, building more resilient local economies, and creating lasting impact across the communities it serves. Oxano will help the company strengthen its operating model, diversify its supplier base, and accelerate its path to profitability.
