On January 19, 2021, Change Com invested $ 20,000 in Imalipay, an African startup offering tailored financial products that promote participation in the financial sector for gig workers.
Gig workers are independent contractors, online platform workers, shift workers and temporary workers.
Existing financial products are usually not tailored to take into account gig workers’ income pattern, their missing or limited credit history and lack of collateral. Gig workers therefore remain locked out of the financial sector.
The money raised in this investment round will be used to expand Imalipay’s offering and expand the startup’s presence in Kenya, Nigeria and South Africa.
Imalipay was founded in 2020 by two African entrepreneurs, Tatenda Furusa and Sanmi Akinmusire, both with strong academic backgrounds and solid business experience.