According to a press release, the platform welcomes everyone from farmers to humanitarian aid beneficiaries who can use the applications built-in tools which include a “feature-phone compatible digital wallet, a mobile point of sale for merchants, a mass-payouts dashboard, and an API that supports on & off-ramps between stablecoins, mobile money e-float, and fiat currency.”

Users can seamlessly receive and send money, access yield accounts, and borrow money without the expense of collateral damage.

“One in three adults alive today is an informal economy worker who struggles to access adequate financial services,” said Sandra Uwantege Hart, Emerging Impact CEO of Advisory Services. “Umoja leverages the most advanced technologies to provide an alternative, and allows them to participate in the global economy for the first time.”

Emerging Impact plans to demystify decentralized finance-based wealth by advancing its platform to encourage the consumer and create opportunities to generate wealth while ending cycles of poverty.

With over 1.2 billion users worldwide transacting more than $2 billion in sales, according to GSMA, Emerging Impact understands providing the essential tools to protect and expand the wealth of its users will topple economic obstacles commonly produced by the traditional financial system.

“DeFi offers immense value and opportunity compared with products created by traditional financial services providers, and Umoja is a convenient, accessible, and elegant solution for mobile money users in the global south to participate in this positive value transformation,” said Clayton Bryan, a Partner of 500 Global.

He continued: “We’re witnessing the dawn of a new era, and Emerging Impact is a company at the vanguard, developing the next generation of financial inclusion tools and services. We’re proud of the Emerging Impact team, and this round of financing is further validation.”

Jon Lewis

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