Kenyan fintech startup Asilimia has launched a digital ledger app to allow MSME owners to manage their transactions in real-time.
Founded in 2017, Asilimia aims to empower small businesses through an affordable, easy-to-use and tailored digital payments platform.
Its Android app gives business owners direct access to a payment infrastructure specifically tailored to their needs via their mobile phone, eliminating tedious registration processes and allowing them to easily send money at scale, invest savings on transaction fees into insurance or business loans, gain insights into their finances, and minimise payment fraud.
It has now launched Leja, a digital ledger app that allows business owners to manage their transactions in real-time. Using Leja, business owners can create simple cash-based accounting P&L records as well as keep a ledger of outstanding debits and credits while requiring zero technical or accounting knowledge.
“We are excited to introduce this feature into the market,” said Tekwane Mwendwa, chief executive officer (CEO) and co-founder at Asilimia, said.
“It has come at an excellent moment to support our users formalise and digitise their business transactions as it will now be easy for them to track their sales and expenses and also follow up on what they are owed by customers.”
The app users will also get to enjoy an integrated mobile money infrastructure that allows them to send and receive online payments with reduced transaction fees by up to 90 per cent, which can be channelled to access insurance and high value loans. Asilimia’s growing active subscribers have to date recorded transactions with a value of more than US$17 million.