ACCRA, GHANA – FEBRUARY 24, 2025: Oze, a leading provider of AI-Powered digital lending solutions for financial institutions and SMEs, has secured investment from global payment leader Visa and German development finance institution DEG. Existing investors including Speedinvest and Africinvest through its Cathay AfricInvest Innovation Fund also invested.
This funding marks a significant milestone for Oze, which was one the first startups to receive investment following the completion of the inaugural Visa Accelerator Program. Selected from over 1,000 applicants, the program provides Africa’s top fintech startups with 12 weeks of intensive growth experiences through mentorship, training and support from industry leaders and mentors.
“Visa is committed to fostering innovation and financial inclusion across Africa, and Oze’s vision aligns perfectly with that mission. Their approach to enabling digital lending for underserved small businesses is transformative, and we are excited to partner with them to drive this change,” said Fabrice Konan, Country Manager Visa Ghana.
DEG’s investment comes through its Up-Scaling Programme, which targets high-impact, innovative business models in developing and emerging markets.
“Oze’s technology has the potential to unlock financial opportunities for millions of small businesses in Africa, creating sustainable development and fostering inclusive growth. We are proud to support their expansion.” said Dr. Tobias Bidlingmaier, Head of Up-Scaling at DEG.
With this funding, Oze plans to scale its Lending Management System (LMS), a tool designed to enable financial institutions—including banks, microfinance institutions, and fintechs—to offer unsecured, no-collateral digital loans to merchants and small businesses. The LMS is powered by Oze’s proprietary machine-learning credit risk algorithm, which ensures smarter and more efficient lending decisions.
“This funding will accelerate our mission to empower small businesses across Africa. By scaling our Lending Management System, we can help more financial institutions unlock the potential of SMEs and drive financial inclusion at an unprecedented scale,” said Meghan McCormick, Oze’s Co-founder and CEO.
Oze was also recently selected as one of 3 finalists for the Milken Motsepe Prize for Fintech for its innovative approach to expanding access to capital and financial services for small businesses in emerging and frontier markets. Out of more than 5,000 applications and a semi-finalist pitch at the Milken Institute’s annual Middle East & Africa Summit, Oze emerged as one of the top 3 companies still in the running for a $1M prize.
The team remains focused on its mission to build 100 million profitable small businesses across Africa. The platform provides banks and lenders with tools to automate digital lending, while MSMEs benefit from easy-to-use business management software to track sales, expenses, and customer information. Oze analyzes this data to deliver actionable recommendations, business education, and access to capital.
In partnership with commercial banks such as Ecobank, Oze operates in Ghana, Nigeria, Guinea, Benin, Rwanda, Madagascar, Zimbabwe, and Lesotho, with plans to expand further across the continent.
About Oze: Oze is a fintech company dedicated to transforming small business financing across Africa. By leveraging machine learning and advanced analytics, Oze connects financial institutions with MSMEs through innovative digital lending solutions and business management tools. For more information, visit getoze.com.
About Visa: Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
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Oze
Meghan McCormick, CEO
Visa
Jihane Boukaidi