Umba
What it does
Umba was founded by Tiernan Kennedy and Barry O'Mahony as a Nigerian digital bank, later expanding to Kenya by acquiring Daraja Microfinance Bank in 2022. The company raised a $15M Series A in 2022 led by Costanoa Ventures. Co-founder Barry O'Mahony exited in 2023, and Umba is now headquartered in Nairobi with operations in Kenya and Nigeria. In 2025, it raised a $5M debt facility from Star Strong Capital.
Consumer / retail lendingDigital / challenger banks (neobanks)Digital savings platforms
Known for
- Digital banking in Kenya and Nigeria
- Acquired Daraja Microfinance Bank (Kenya)
- $15M Series A raise
Model & industry
SaaSAll / Cross-industry
Funding history
$15.0M
Total raised
1
Rounds
Series A
Latest stage
2022
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2022-04 | Series A | $15.0M | Costanoa Ventures |
Source: Condia Funding Tracker
Products & subsidiaries
Umba Digital Bank · Digital Banking
In the News
- 2025-04-10 · Kenya's Umba Secures $5M Debt Facility to Boost African Expansion · Fintech News Africa
- 2022-04-14 · African digital banking platform Umba raises $15M Series A funding · Fintech Futures