Kenyan AI startup SuperFluid Labs raises funding from GreenTec

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Kenyan startup SuperFluid Labs, a Software-as-a-Service (SaaS) provider of data analytics and artificial intelligence (AI) solutions, has secured funding from the Germany-based GreenTec Capital to expand its product offering.

Founded in 2015, SuperFluid has developed a comprehensive data analytics platform that can assess credit scores and provide business intelligence more effectively through big data and AI.

The platform mines customer transactional data to automatically reveal customer behaviours and trends, such as credit risk and defaults, as well as helping institutions to enhance engagement, reduce churn risk, and increase overall profitability.

SuperFluid has already established a successful consulting business providing its analytics services to microfinance institutions (MFIs) such as responsAbility and traditional banks like Ghana’s Fidelity Bank and Kenya’s NIC Bank.

With the help of the funding from GreenTec Capital it plans to expand its offerings to the e-commerce space, helping businesses to offer their own credit services to qualified customers.

“Capturing transactional data from multiple sources will further allow SuperFluid to develop robust market-focused credit scoring models. This will provide the company with a competitive advantage over international agencies which do not have models customised for African markets and over Africa-based scoring companies that are limited by their regional presence,” GreenTec said.

“Through providing bespoke analytics to banks, e-commerce platforms, and MFIs the company plans to offer a pan-African credit scoring solution to help expand financial inclusion to millions of Africans as well as empower African businesses to harness the power of big data to improve their business decisions.”

GreenTec has been an active backer of African tech startups of late, also investing in Nigerian logistics startup Parcel-it, Kenyan insurtech platform Bismart, Namibian CPU producer PEBL, and Kenyan recruitment platform Netwookie.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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