Rubyx, a leading African fintech startup, has secured a significant boost to its operations with a €400,000 loan from Proparco through the Bridge by Digital Africa facility.

This funding will accelerate the deployment of Rubyx’s innovative algorithmic lending platform, designed to enhance access to credit for startups and microfinance institutions across the continent.

Expanding Access to Credit for African SMEs

Rubyx’s algorithmic lending platform offers a more efficient and transparent way for African Very Small Enterprises (VSEs) and Small and Medium-sized Enterprises (SMEs) to access loan products.

By utilising data-driven insights, Rubyx can assess creditworthiness more accurately, making it easier for these businesses to obtain the funding they need to grow and succeed.

A Strategic Partnership with Proparco

This partnership with Proparco aligns with the organisation’s broader goal of supporting African startups and promoting economic development. Proparco’s Bridge by Digital Africa facility provides bridging finance of up to 24 months to help startups navigate the gap between funding rounds.

Building on Previous Success

Rubyx has already demonstrated significant traction, having raised €600,000 in a seed round in 2022 and an additional €500,000 in an extension round from Saviu Ventures in March 2023. This latest funding from Proparco will enable Rubyx to further scale its operations and expand its reach.

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A Catalyst for Economic Growth

By providing access to credit, Rubyx is empowering African SMEs to invest in their businesses, create jobs, and contribute to economic growth. This partnership with Proparco is a significant step towards transforming the financial landscape for these vital enterprises.

Denis Moniotte, CEO and co-founder of Rubyx, expressed his gratitude for Proparco’s support, stating, “This partnership is crucial in advancing our mission to equip banks, microfinance institutions, payment providers, and fintechs with the necessary technological solutions to drive economic development for SMEs.”

By using data-driven insights, Rubyx provides innovative lending solutions that address the unique challenges faced by these businesses.

The Rubyx Process: A Five-Step Journey

1. Discovery: Understanding your business, customers, and objectives.
2. Design: Defining your lending strategy and loan product.
3. Integration: Connecting their systems with yours.
4. Pilot: Launching and testing your new lending solutions.
5. Performance: Optimising your business model and improving the customer experience.

What Rubyx Does for You

• Data Management: They collect, clean, and analyse your data to gain valuable insights.
• Customer Scoring: Their algorithms assess customer risk profiles to determine eligibility for loans.
• Loan Processing: They handle loan offers, applications, and disbursements.
• Portfolio Management: They ensure proper loan creation, management, and recording.
• Collection Management: They implement effective strategies to reduce the risk of default.
• Regulatory Compliance: They assist with reporting requirements to central banks and credit bureaus.

Lending as a Service

Rubyx offers a comprehensive lending platform that can be easily integrated into your existing business. Our solutions include:

• Embedded Lending: Offer seamless borrowing experiences to your customers.
• Powerful Credit Scoring: Reach more customers while managing risk effectively.
• Easy Integration: Launch new loan products quickly with their API-driven platform.

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Why Choose Rubyx?

• Data-Driven Insights: They leverage data to make informed decisions and optimise your lending operations.
• Customized Solutions: Their solutions are tailored to your specific needs and objectives.
• Efficiency and Scalability: Their platform is designed for efficiency and scalability, allowing you to grow your lending business.
• Expert Support: Their team of experts provides guidance and support throughout the process.

Empower Your Business with Rubyx

By partnering with Rubyx, you can unlock the potential of your SME lending business. Their innovative solutions, along with their expertise in data and technology, can help you drive growth, improve customer satisfaction, and make a positive impact on your community.