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Kenya’s fintech ecosystem raised $120 million in venture capital in the first half of 2024, making it Africa’s second-largest recipient after Nigeria. According to Briter Bridges, funding surged for embedded finance (Tugende), regtech (VerifyMe), and climate fintech (Pula). Tala secured $50 million for AI-driven credit in emerging markets, while Pula expanded its satellite-based crop insurance across 10 countries. The Central Bank’s progressive sandbox and M-Pesa’s open API ecosystem were cited as key enablers. Despite global VC slowdowns, Kenya’s strong mobile penetration and regulatory clarity continue to draw investors. The sector now supports over 300 startups and 70,000 direct jobs.