FlexPay Technologies is a Kenyan fintech out to enable consumers to afford products that would have otherwise been out of reach for them.
The startup allows customers to shop at partner merchants, reserve products and pay over a period of time, at no added cost. It initially partnered with a Kenyan retailer during launch but scaled in 2020, and has to date grown its merchant network to 600. This number of partner merchants is set to grow further as the startup, which is part of the 2023 Startup Battlefield 200 cohort, widens its “save now, buy later” offerings.
“We want FlexPay to be like an active bank account in that when a consumer is not paying for retail products, they are saving and paying toward a vacation, or even school fees,” said FlexPay co-founder and CEO Richard Muchomba, adding that the startup is in the process of sealing partnerships that will allow its users to book and pay for flight tickets and hotels.
This is part of its continued strategy to retain customers and follows the introduction of its initial product dubbed FlexPay…