SCF #11
Crypto CICO at MoMo agent.

Developing a Stellar Network powered mobile app that will enable our customers to on-ramp and off-ramp at our vast agent network.

Budget request:

Project Stage



Micro & B2B Payments

Based in

Nairobi, Kenya

Team size


Active since

Products & Services

Plans are underway to launch on-ramp and off-ramp of crypto at PesaKit agents points. We aim to leverage our vast agent network, which currently stands at 36,021 agents to exchange crypto currency for fiat currency, enabling fast and efficient movement of funds from the digital to physical world. The consequent financial history of crypto CICO would then enable us to offer DeFi loans to our customers.

This solution will help us to further narrow the MSME lending gap in Kenya which currently stands at USD 19 Billion. In addition we will enable participating agents to access a new revenue source by acting as providers of this new financial service as they will earn a commission on every CICO transaction completed.

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Previous Project(s)
SCF #10
Award recipient
Crypto cash in cash out (CICO) at mobile money agent locations
Learn more
Progress so far
  • Goal 1: In the first six months of our operations, we are targeting to register over 1,200 users on our platform, with 175 agents processing over 700 transactions.
  • Goal 2: We aim to hire a marketing manager fully dedicated to the project. The marketing manager will develop a marketing and communication strategy that will include audio and visual content for the key purpose of educating our users on cryptocurrency matters and how to use the different functionalities the platform offers.
  • Goal 3: We will expand our development team by hiring a product manager, backend and mobile engineer.
  • Goal 4: Increase our sales revenue by increasing the number of monthly transactions. Specifically, we aim to grow our sales revenue and monthly transactions on the platform during the 1st quarter of operations by 6%, then the 2nd quarter by 10%.
  • Goal 5: Launch a DeFi lending platform for our mobile money agents leveraging the transaction history of crypto CICO.
To get there, we request a budget of  

We aim to achieve the following in the next 6 months:

  • Number of active users - 1,215
  • Number of transactions - 729
  • Value of earned revenues - $35,179
  • Number of agents using the platform - 175
Additional information
Pitch deck
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First Deliverable

PesaKit is a Nairobi based fintech company operating in Kenya, Uganda, Tanzania and Ghana. We are reimagining access to financial services and e-commerce at the last mile powered by the PesaKit super app in Africa. Our platform enables efficiency and profitability for MSMEs, merchants, distributors, manufacturers, telcos and banks by digitizing their demand and supply of financial services and ecommerce goods.


Andrew Mutua - Founder and CEO, PesaKit.

Andrew strives to combine his passion for tech and his eye for design to build a product that will revolutionize Africa’s mobile money and ecommerce industry. He previously founded and was the CEO  of Logic, an award-winning software engineering, and digital design consultancy firm based in Nairobi, Kenya; with a focus on financial services, digital transformation, integration, middleware, and platform engineering for banks and insurance companies in Kenya.

Andrew M. LinkedIn

Lynnette Asudi - Head of Mobile Engineering, PesaKit

Lynnette is an introvert full of wisdom and expertise in mobile app development with a keen focus on integrating functional solutions to everyday problems for everyday people. PesaKit’s first team member, she now leads a team of mobile engineers with a quiet confidence and a loud track record. She is passionate about empowering budding developers and championing more schoolgirls to join the tech space.

Lynnette A. LinkedIn

Derrick Bundi - Software Engineer, PesaKit.

Flush with an unbridled passion for problem-solving and innovating software solutions for MSMEs and merchants, Derrick brings over 4 years of experience to the PesaKit team. Sharp on the keyboard and even sharper in his thought process, he seeks to see rural entrepreneurs utilize modern solutions to thrive in a digital world.

Derrick Bundi LinkedIn Profile

Desmond Oningu - CFO, PesaKit

Desmond brings over 20 years of experience in leading operations in private, NGO, and public sectors within East Africa. He is a strong advocate of financial inclusion at the last mile and empowering local enterprises to grow and transform the lives of local communities.

Desmond Oningu LinkedIn