The bank has surpassed 9.5 million customers, showcasing robust growth in its customer base.

Through its digital infrastructure, Pumpkn aims to make financing more accessible and affordable, lowering the costs for both borrowers and lenders. Farmers and food processors can apply for loans ranging from R5,000 to R5 million and receive funding within 10 days — an expedited process compared to traditional banking channels.

Under POPIA, companies found to have breached data protection rules face severe penalties, including fines of up to R10 million (roughly $550,000) or prison sentences of up to 10 years.

The platform boasts over one million cash points of sale, contributing to a 25% increase in payment conversion rates. Encouraged by these results, the company is now planning to open this payments solution to external merchants, with a potential launch before Christmas 2024.