ZARIBEE

Zaribee, formerly Unchorlight Kenya, is a mobility fintech company operating in the Kenyan market. The company focuses on providing financial services to Boda Boda (motorcycle taxi) riders, a significant part of the informal transport sector in the country. Its core offering is a rent-to-own financing model for motorbikes, which enables riders who lack access to traditional financial services to acquire their own vehicles.

The business model is centered around asset financing. Zaribee purchases motorbikes and then leases them to riders under a rent-to-own agreement. Riders make regular payments over a specified period, and upon completion, they gain full ownership of the motorbike. This model provides a path to asset ownership for individuals who would otherwise be unable to secure a loan for such a purchase. The company emphasizes transparency in its dealings, with no payments required until a contract is signed.

Zaribee serves a client base of Boda Boda riders in Kenya, empowering them with financial access and the means to own their primary income-generating asset. By June 2024, the company had successfully dispatched over 2,000 bikes, indicating a growing scale of operations. The company also appears to be developing an app, the iSail App, to enhance efficiency and provide access to a verified talent pool, suggesting a move towards a more integrated digital platform.

Keywords: mobility fintech, rent-to-own, asset financing, Boda Boda, motorcycle taxi, Kenya, financial inclusion, vehicle leasing, emerging markets, transportation