Clixpesa is an effort to build a borderless, customer-centric, all in one platform to serve as a trusted companion to manage and grow money while giving back control to users. By simplifying web3 for the less tech and financial savvy, we intend to increase utilization of financial products across sub-saharan Africa. The “take it or leave it” approach to financial products and pricing has locked out many, esp in the informal sector from enjoying the benefits of current financial trends.

Clixpesa Spaces

Clixpesa spaces is basically a savings feature where users can save for personal goals, participate in saving challenges and also save in groups through RoSCAs. With Rotating Savings & Credit Associations (RoSCAs) users can come together as a group to help each other stay financially resilient. Users contribute to a pot, and the target amount goes to one of the users in a particular order until everyone has received a pot and the cycle starts over. This utility commonly known in Kenya as Chamas, helps many raise funds for otherwise big financial goals such as business capital or bills. Within the RoSCAs members can also ask for financial support for financial needs outside of the pot allocations. Users can create a RoSCA easily by inviting their friends through their phone numbers. Once the RoSCAs is created they can select their admins and around can be started. Funds disbursement happens automatically once a pot deadline is reached. Signatories to the RoSCA funds are randomised by the platform in order to give all members equal control over their funds.

Clixpesa P2P Lending

68% of loans in the alternative lending market in Africa are P2P loans. With Clixpesa P2P users are able to offer or request loans from each other at their own terms. Clixpesa Finance helps with monitoring the Credit scores of users and only recommending matches to users in order to minimize the risk of default among users. This feature is very useful for those who survive on day loans to run small businesses for purposes such as inventory purchases. This product greatly reduces the cost of loans as it democratises lending and also opens other earning avenues for users through interest.