Platcorp Holdings
Affordable microfinance and lending services for African MSMEs.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | $10.0m | Debt | |
| Total Funding | 000k | ||
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Platcorp Holdings Limited is a microfinance investment management company that provides affordable lending services to Micro, Small, and Medium Enterprises (MSMEs) and employed individuals across Africa. The company was founded in 2003 in Kenya as Platinum Credit Limited and rebranded to Platcorp Holdings Limited in 2012 to reflect its broader vision.
The group operates through a brick-and-mortar model with numerous small branches, fostering a high-touch relationship with its clients. It has expanded its operations to Kenya, Uganda, Tanzania, Zambia, Lesotho, and South Africa, managing over 574 branches and serving more than 700,000 customers. The business model focuses on providing credit-only impact financing through subsidiaries like Platinum Credit, Premier Credit, and Momentum Credit. These entities offer emergency loans, structured working capital, and asset-backed financing solutions. Platcorp also leverages financial technology to streamline its services and enhance accessibility for its stakeholders. The group has diversified its portfolio to include non-lending businesses such as Eezy Group for vehicle tracking and valuation, and Viva 365, a microinsurance brokerage firm.
Significant milestones include the formation of The Platinum Corporation in 2008 as a holding entity, expansion into Uganda in 2009, and the launch of Premier Credit in Kenya and Uganda in 2014. The company acquired Fanikiwa Microfinance in Tanzania in 2015 and established Momentum Credit in Kenya in 2017. It has received investments from major international partners, including the International Finance Corporation (IFC) and Centum. In 2021, Ascent Africa invested USD 13.6 million for a minority stake.
Keywords: microfinance, SME lending, financial inclusion, Africa, credit services, asset financing, impact investing, sustainable finance, MSME funding, working capital solutions, emergency loans, fintech, East Africa, Southern Africa, investment management, non-banking financial institution, Platinum Credit, Premier Credit, Momentum Credit