Zoona (meaning “Real” in Nyanja) is an African fintech company. We use technology to provide financial services to people when they need them most, so that communities can thrive.
Zoona develop a fintech platform and then work with emerging entrepreneurs across Africa – who provide our services as Zoona Agents. To date, we have empowered over 1,500 entrepreneurs to start their own Zoona business, created 2,500 jobs, and processed over $1 billion in mobile money transactions.
We have built up a loyal customer base of over 1.5 million people who use our services every three months – and we plan to be in ten African countries by 2020. Zoona has raised over $22 million in international investment, and counts Accion, the Omidyar Network and the IFC among its institutional investors.
In 2014, Zoona became the first company from Southern Africa to become a certified Benefit Corporation (B Corp).
B Corp is to business what Fair Trade certification is to coffee or USDA Organic certification is to milk. B Corps are certified by the non-profit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency.
Zoona was also identified by the Nike Foundation and The Unreasonable Growth as one of 10 companies worldwide best suited to lifting women and girls out of poverty – and therefore invited to become a part of the prestigious Girl Effect Accelerator programme.
Your loans will go a long way towards building sustainable businesses and financial inclusion in Africa.
Brad and Brett Magrath, two brothers from Zambia, founded Zoona in 2009. Mike Quinn and Keith Davies joined early on – and together the four of them form the core of Zoona’s founding team.
Mike holds an MBA from Oxford University, where he was a Skoll Scholar for Social Entrepreneurship, along with an MSc in Management Development from the London School of Economics. Mike grew up in Calgary, Canada, but his social entrepreneurship journey has taken him to Ghana, Zambia, and South Africa.
Keith’s background is in investment banking, having held roles at Rand Merchant Bank and later heading up the African Strategy division at Citibank.
Brad is a serial entrepreneur, and Zoona is the third business he has started. He co-founded Zoona with his brother Brett, and now ensures that every employee experiences the company’s unique values, belief and culture!
Brett is a co-founder at Zoona, which he started with his brother Brad. He’s worked at JPMorgan Chase & Co, and later as managing director of CAD International. Today, he drives innovation and new product creation at Zoona.
2009 – Founded in Zambia as Mobile Transactions
2010 – Processes 100,000 money transfers in Zambia
2011 – Rebrands to Zoona
2012 – Raises $4 million in Series A round
2014 – Expands into Malawi
2014 – Invited to join Girl Effect Accelerator due to being identified as 1 of 10 companies worldwide best suited to taking women and girls out of poverty.
2015 – Crosses $1 billion in mobile money transactions milestone
2015 –Closes $15 million Series B round, expands into Mozambique