Uganda: payday advance fintech Zofi Cash raises $1 million to expand its services

Zofi Cash, a Ugandan payday finance start-up, recently raised $1 million from Advancly, an investor based in Nigeria. The information was revealed by this financial platform designed to respond to employees’ financial emergencies.

According to the press release, the new funding will enable the fintech to expand its payday advance services to meet a significant backlog of more than 20,000 employees currently on the waiting list.