Alternative Circle Named Among Top World Fintechs

Kenyan start-up Alternative Circle has been recognized as one of the top fintechs in a first ever survey on the emerging industry, globally.

The first Global Fintech Index city ranking 2020 by Findexable, a platform that aims to identify emerging hubs, fintech companies, and trends of fintech ecosystems in more than 230 cities across 65 countries, cited Alternative Circle as “One to Watch” in the recently released survey.

Alternative Circle founder and CEO Kevin Mutiso said that the recognition reflects the fintech’s commitment to widen financial conclusion through continuous innovation.

“We at AlternativeCircle recognize that technology has the ability to give financial access to everyone in a sustainable way. We are proud that our efforts are being recognized globally,” said Mutiso.

The Global Fintech Index City Rankings 2020 identifies emerging hubs,
fintech companies and trends. The Index algorithm ranks the fintech
ecosystems of more than 230 cities across 65 countries incorporating data from global partners including StartupBlink, Crunchbase and SEMrush.

Simon Hardie, CEO and Founder of Findexable – the company behind theRanking explained:

 “The Index is the inspiration of thousands of hours of interviews, surveys and internet searches – and the product of four months of algorithm development to create, for the very first time, a fully global ranking of fintech countries and cities.

“The rankings in the report are proof of how much, and how fast, the world is changing.”

Nairobi, on its part, was ranked as the 42 most innovative hub for fintechs on the back of having an ecosystem that has enabled innovations in payment,enabling processes and technology, banking and lending solutions.

Link;
https://findexable.com/wp-content/uploads/2019/12/Findexable_Global-Fintech-Rankings-2020exSFA.pdf

Ranking Criteria 

The country and city rankings are calculated from a total score comprised
of a combination of three metrics:

Quantity – Size of fintech ecosystem and supporting structures – number of
fintechs, fintech hubs, co-working spaces, accelerators, global influencers
and population (countries only)

Quality – Impact/performance – size and growth of fintechs (eg number of
unicorns), investment, events, value generation, international
collaboration, website ranking

Environment – ease of doing business, critical mass, regulatory environment
– regulatory interventions to improve competitive environment, incentives
for start-ups, internet censorship, payment portals, fintech courses.

About Alternative Circle:

Alternative Circle was started in March 2016 with a mission to give
financial access to over 200 million people globally. In 2017 Alternative
Circle closed a seed round of $ 1.1 million from CreditInfo for scaling
operations and growth of the company.

Alternative Circle is channel for financial institutions who do not have
the human capital or infrastructure to give micro loans to disburse micro loans to Shika customers. Currently Alternative Circle has raised
$10million from financial institutions for the lending pool.

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