awamo GmbH

Mobile, biometric banking platform and credit bureau for microfinance.
Website

Founded in 2015 by

  • Benedikt Kramer

  • Philipp Neub

  • Roland Claussen

Incubation period

01-08-2015 to 31-07-2016

About awamo GmbH

awamo is a mobile biometric banking platform and credit bureau for microfinance in Africa. awamo enables microfinance lenders (MFIs) in sub-Saharan Africa to digitize their business operations with minimal cost and effort by providing an SaaS-solution with integrated biometrics. Defaults for lenders can decreased and interest rates can be lowered at the same time. Read more at http://awamo.com/about/solution/

Contact info

The challenge

awamo digitizes Africa’s microfinance sector to boost financial inclusion. 100m+ people in sub-Saharan Africa borrow at interest rates of 60%+ p.a. on average and oftenly live in rural areas. Inefficient processes boost operational cost for lenders to 33% of their avg. loan portfolio. Credit information on borrowers is not availabe and borrower identification is not possible. awamo's solution tackles all of these problems. Read more at http://awamo.com/about/situation/

The solution

awamo enables microfinance lenders (MFIs) in sub-Saharan Africa to digitize their business operations with minimal cost and effort by providing an SaaS-solution with integrated biometrics. Defaults for lenders can decreased and interest rates can be lowered at the same time. Read more at http://awamo.com/about/social-benefits/