We estimate that over 400 million people around the world regularly save and borrow together in community groups and with friends. They use these transactions to make investments and earn a return.
This practice is more than 1,000 years old.
But there’s a problem. Most of these groups are offline and manual. This makes it hard work and unsafe.
MiKashBoks (MKB) is a digital social finance platform that makes saving and lending in groups easier and safer.
We provide a safe and connected way for these groups to transact and access formal financial services.
To transform the financial experience of the last billion and be the platform
that people trust to achieve their financial goals together
By bringing saving and lending groups online, MiKashBoks:
Helps users manage and transact with their saving groups, replacing offline recordkeeping. With an estimated $500B USD in annual transaction, peer-based saving & lending groups represent perhaps the largest financial market yet to benefit from digitisation.
Gives the excluded access to a full range of financial services. They build reputation & credit histories and are connected to a marketplace of financial institutions providing fair opportunities like external loans.
A community that saves and lends
MiKashBoks is a people-focused financial platform built on existing and thriving community savings and lending practices. We see the value in the informal transactions that comprise so much of the financial lives of the unbanked billion.
MiKashBoks is designed to work for these communities, augmenting what they do well – we build on, rather than seek to replace, community trust and connection. In addition, we provide a secure way for our users to build credit and grow their saving and lending capabilities.
The Founding Team
Chief Product Officer