Fintech firm Kuunda announced a $5 million secondary share sale led by E4E Africa, with participation from existing backers Accion Ventures, Portugal Gateway Fund and Seedstars Africa Ventures, as it prepares to launch in seven new African markets.

The transaction does not constitute a primary capital raise; instead, it provides liquidity for early shareholders while increasing the stakes of current investors ahead of the expansion.

Kuunda’s CEO Andrew Milne described the deal as a milestone that reflects the profitability and scalability of the company’s lending infrastructure serving millions across the continent.

Founded in 2018, the company offers a lending‑as‑a‑service platform that lets banks and fintech partners embed overdraft and working‑capital products into digital ecosystems, reaching users through mobile money operators, payment aggregators, POS providers and e‑commerce platforms.

To date, Kuunda reports more than $4.4 billion in loan volume across over 870 million transactions, serving 14.6 million agents, merchants and consumers in its current footprint of Tanzania, Kenya, Uganda, Mozambique and Malawi.

E4E Africa Managing Partner Bas Hochstenbach said the fund is increasing its position in Kuunda, citing the firm’s technology, distribution network and banking partnerships as key to reaching businesses and consumers underserved by traditional lenders.