When Yoeal Haile started Aspira, a lending service, in 2017, he wanted to give Kenyans more choice about buying stuff on credit. The business eventually grew to a point where it offered over $1 million in loans to customers monthly. Still, Haile noticed a bigger underserved opportunity on the other side of the spectrum: small and medium businesses (SMBs).

Retailers on the Aspira platform, like most African businesses, struggled with cash flow problems and lacked access to affordable credit to grow their businesses. While banks use rigorous credit policies and don't care much about small businesses, particularly those without any local credit history or track record, informal lenders act as loan sharks to the detriment of these businesses.