What do you get when you blend grit, a vision for financial equity, and some good ol’ tech magic? You get Lupiya—Zambia’s trailblazing neobank that’s reshaping how Africa does money.
Back in 2016, Evelyn Kaingu and Muchu Kaingu launched Lupiya with a modest $500 and a big dream: to make financial services accessible to every African—especially women, small business owners, and the underserved. They weren’t just creating a lending platform—they were building a digital gateway to financial empowerment.
Fast-forward a few years, and Lupiya has evolved from family-funded beginnings to raising a whopping $8.25 million Series A round in 2023. But let’s rewind for a second—because Google saw the spark way back in 2021 and invested $300,000 to stoke the fire. And that fire’s now blazing across Zambia—and soon, Tanzania too.
The name "Lupiya" means money in one of Zambia’s local languages. But this neobank is about more than just coins and kwacha. It’s a mission-driven fintech built on values like:
And the results speak for themselves: Lupiya processes loans with lightning speed, maintains a lean 5% default rate, and boasts a $6.5 million loan book. Oh, and did we mention $5.5 million in annual revenue?
Lupiya isn’t just about numbers. It’s about impact.
Take their partnership with USAID, for example. They’re powering solar irrigation systems for Zambian farmers—boosting yields, conserving resources, and securing livelihoods.
And with a customer acquisition cost of just $11, they’re scaling smart. With over 60,000 users, the community is growing—and thriving.
Lupiya’s just getting started. With expansion plans in the pipeline and a solid team—including finance wizard Chilufya Kangwa and ESG champion Lombe Muzala—they’re eyeing broader horizons.
Their north star? A digitally inclusive Africa where no one is left behind.
Ready to join the movement? Whether you’re a borrower, investor, or someone who believes in a more inclusive financial future, Lupiya’s got a seat for you at the table.
Stay tuned. Africa’s fintech revolution has a name—and it’s Lupiya.
