Kenya-based fintech startup, Tanda, has secured an undisclosed amount of funding in a pre-Series A round led by Cape Town-based venture capital firm, HAVAC. The funding from HAVAC is part of the VC firm's $20 million HAVAC Universum Core African Fund.

This funding round also saw three other investors participating in the round, including DFS Lab.

With this funding, Tanda is said to remain well-positioned to continue resolving two of Africa’s biggest financial growth concerns - digitising retail payments to enable faster and more affordable transactions and Providing unbanked Africans and small companies access to crucial financial services like credit, savings and wealth management.

Following this funding round, Tanda has disclosed expansion plans to countries across East Africa over the next 15 months. Tanda is also set to speed up its product development and invest in important strategic partners through the coming year.

READ ALSO - Proptech Startup Spleet Secures $2.6M in New Funding Round

The startup also disclosed the launch of a new brand identity to more accurately reflect its expanding product line across the region.

The startup is set to introduce the following:

Tanda Trader: An app that enables businesses to receive payments, sell digital goods, and obtain financing.

Tanda Pocket: A digital wallet with virtual cards that can be used to make purchases, track finances, and set a budget.

Tanda I/O: An API library that streamlines how businesses collect and distribute payouts across mobile networks, agents and utility service providers.