The increase in deposits from R6.3bn ($347.11m) in June 2024 reflects the continued growth of the digital lender, which reached a milestone of 10.7m customers by the end of December.
Founded in 2018 by former Ernst & Young executives and actuaries Alex Thomson, Sumarié Greybe, and Ernest North, Naked distinguishes itself through a fully digital, AI-driven insurance platform.
As more startups layer financial services onto distribution networks, the message is clear: surviving Africa’s B2B e-commerce crunch may hinge less on moving goods, and more on financing them.
Temu’s expansion comes less than a year after Jumia Technologies AG, often dubbed the “Amazon of Africa,” shut down operations in South Africa and Tunisia.
As more startups layer financial services onto distribution networks, the message is clear: surviving Africa’s B2B e-commerce crunch may hinge less on moving goods, and more on financing them.
