Kenyan firm Alternative Circle recognized among planet’s top fintechs in a survey

Alternative Circle, a Kenyan start-up, has recently been recognized as one of the top fintechs globally in a first ever survey on the emerging industry.

The first Global Fintech Index city ranking 2020 by Findexable, a platform that intends to identify emerging hubs, fintech companies and trends of fintech ecosystems in over 230 cities across 65 countries, cited Alternative Circle as "One to Watch" in the recently released survey.

"We at Alternative Circle recognize that technology has the ability to give financial access to everyone in a sustainable way. We are proud that our efforts are being recognized globally. The recognition reflects the fintech's commitment to widen financial conclusion through continuous innovation," the Founder and Chief Executive Officer of Alternative Circle, Kevin Mutiso opined.

The Index algorithm ranks the fintech ecosystems of more than 230 cities across 65 countries incorporating data from global partners including StartupBlink, Crunchbase and SEMrush.

"The Index is the inspiration of thousands of hours of interviews, surveys and internet searches – and the product of four months of algorithm development to create, for the very first time, a fully global ranking of fintech countries and cities," Simon Hardie, the Chief Executive Officer and Founder of Findexable – the company behind the ranking – said.

Nairobi, on its part, was ranked as the 42 most innovative hub for fintechs on the back of having an ecosystem that has enabled innovations in payment, enabling processes and technology, banking and lending solutions. The company raised USD 1.1 million in 2017 in funding from international credit risk management company Creditinfo Group to help it achieve a wider geographical footprint.