Kenya based Paylend has raised US$2-million in expansion funding from Next Chymia Consulting to enter into countries such as Nigeria, Tanzania and Zambia as part of its portfolio of operations. Paylend is a fintech startup that provides access to credit that facilitates transactions between small-to-medium businesses and their customers. The company was established in 2019 by Bendon Murgor and Eliutherius Juma. The stake acquired by Next Chymia Consulting was not disclosed.
Next Chymia Consulting is a Hong Kong based company that develops, supports and incubates commercial ventures through an international network of blockchain technology. The company also provides an investment program for those interested in innovative startups which use blockchain technology. The Kenyan fintech startup is one of the few investments made in Africa by the Hong Kong based company.