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Zoona

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.

KIVA

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 Quinn, Chief Executive Officer @ZoonaMike

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 Davies, Chief Financial Officer

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 Magrath, Chief People Officer @ZoonaBrad

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 Magrath, Chief Innovation Officer

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

Connect with Zoona

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Join AlphaCode

Are you ready to take your fintech business to the next level?Join the growing network of fintech disruptors shaping the future of our industry.

  • Green

    Membership

    Green membership is available to aspiring financial services entrepreneurs, intrapreneurs and service providers.

    • Monthly newsletter with key industry insights, trends and news
    • Access to open networking events hosted at AlphaCode
    Join now
  • Gold

    Membership

    Our gold membership is open to financial services founders and co­founders with a full-time commitment to their businesses.

    • Access to our co­-working office space in Sandton
    • Business support services
    • Access to exclusive networking events & hosted dinners
    • Acceleration and incubation support
    • Informal mentorship from the RMIH investment team
    • Exclusive applications to competitions and conferences
    • Access to AlphaCode vetted service providers
    • Exposure to commercial opportunities
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  • Platinum

    Membership

    Offered to high­ potential BBBEE businesses that have received enterprise development funding.

    • Free semi­-private office space for 6 months in Sandton
    • Business support services
    • Informal mentorship from the RMIH investment team
    • Access to exclusive networking events & hosted dinners
    • Exclusive applications to competitions and conferences
    • Acceleration and incubation support
    • Access to AlphaCode vetted service providers
    • Exposure to commercial opportunities within and outside the portfolio companies
  • Diamond

    Membership

    Offered by invitation only to businesses which have received growth capital investment from RMIH.

    • Receive growth capital investment from RMIH
    • Access to a co-­working office space in Sandton
    • Business support services
    • Access to exclusive networking events & hosted dinners
    • Formal mentorship from the RMIH investment team
    • Exclusive applications to competitions
    • Access to AlphaCode vetted service providers
    • Exposure to commercial opportunities within and outside the portfolio companies
    • Exclusive applications to competitions and conferences

Member testimonials

  • Alpha Code is a phenomenal platform to network with next generation fintech players offering leading thought leadership events in a world class environment. Look forward to watching the ecosystem facilitate the next ‘Uber’ of Africa.

    Dov Girnum, CEO Merchant Capital

  • AlphaCode has been instrumental in the growth of our business. Through the club, we have met many like-minded entrepreneurs and businesses with whom we have formed strategic partnerships. The team is incredibly generous with their time and continue to give us invaluable mentorship and support.

    Annabel Dallamore, CEO Stock Shop

  • Starting a business is a daunting prospect, especially one that has a focus on an unproven and experimental technology. I have benefitted enormously from the support and wisdom I have received from AlphaCode during my time as a member.

    Lorien Gamaroff, CEO Bankymoon

  • Being located in the heart of Africa's biggest financial services hub, we have gained a lot of credibility through AlphaCode. Our customers trust our brand by association, which results in increased sales of cows.

    Ntuthuko Shezi, CEO Livestock Wealth