In line with its mission to pioneer a sound financial ecosystem that benefits everyone, Zofi Cash helps employees manage emergencies and unexpected situations.

Zofi Cash is a fintech solution developed by a Ugandan startup that enables users, specifically company employees, to receive salary advances to address financial emergencies before payday. Founded in 2021 by Paul Kirungi and Gordon Turibamwe, the Kampala-based startup offers up to 50% of a user's salary as salary advance.

"The traditional 30-day pay cycle can leave people without funds during unexpected expenses and emergencies. Zofi Cash solves this problem by providing early access to wages, allowing employees to address immediate needs without waiting until the end of the month for payday," Zofi Cash explains.

Its digital solution includes a mobile app available on both iOS and Android, which has already been downloaded more than 50,000 times, according to Play Store statistics. Users must create an account with their personal information to access the fintech's services, and it is important to note that the user's employer must have a partnership with Zofi Cash.  

In May 2023, it raised $1 million from Advancly, a business-to-business financing firm operating in six African countries, to support its growth.

Commenting on the funding round, Lotanna Julian, co-founder of Advancly, said, "Cash flow management is as important as earning money itself. The work that Zofi Cash is doing connects to our ultimate goal of building the rail tracks for a more robust financial ecosystem that delivers prosperity for all."

Adoni Conrad Quenum