How MosMos is Revolutionizing Microfinance in Africa

Mosmos is a platform that offers a way for Africans to save for costly items like electronics and other high-cost materials. In essence, Mosmos allows customers to save towards a future purchase plan, or even an entire cart of items, at your own pace.

There is a B2C model where products are gotten directly from suppliers and sold on the ecommerce platform Mosmos offers. There is also a B2B model where Mosmos partners with retailers and so Mosmos is offered as a checkout option.

It was co-founded by Chengo Masha and Juliet Shiro Njoroge.

To use Mosmos, you do not need any previous qualification. You can earn discounts and rewards even as you save. You do not need to pay anything extra asides the price of the item value you are financing. There is no pressure or stress due to the fact that there are no fixed payment periods; no deadlines and no penalties. You can change your order as soon and as quickly as you have a change of mind.

The CEO and co-founder of Mosmos, Chengo Masha, told Disrupt Africa “Over 75 per cent of the working population across Africa is informal. This is more often than not characterized by limited and inconsistent income and limited access to responsible financial products and solutions. When you have very little disposable income, it becomes challenging to upgrade your life comfortably.”

“The potential for save-to-buy is not only massive in Kenya, but the rest of the other emerging markets. Over the last few months we’ve seen different startups coming up across the world, and the conversation is slowly changing from “buy now pay later” to “save now buy later”,” said Masha. Masha described the growth as “great”. In fact, Mosmos seems to be quite popular among investors.

Earlier this year, the startup rounded off a pre-seed round, from investors including Sovereign Capital Partners, and the Nairobi Business Angel Network (NaiBAN). With Mosmos, you can shop online or in person. They have many partners including SAMSUNG, Phone Link, Airtel, Hot Point and many more. Mosmos also works with financial partners who are approved by the regulatory authorities in Kenya.

In summary, Mosmos is a save-to-buy platform that is changing the way people buy high-value items. With its flexible payment options, competitive advantage, and experienced team, Mosmos is a platform to watch in the coming years.