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Press Release: Opareta Secures Investment to Roll Out Comprehensive Mobile Money Operator Solution 

By Renew Capital Marketing and Communications Team | Tue Jan 09 2024
Improving agent networks with cutting-edge tools and empowering financial solutions
Kampala, Uganda, January 9, 2024— Mobile money transactions play a crucial role in Africa's financial landscape. According to GSMA, in 2022 four million active agents supported over $831B in mobile money transaction value across sub-Saharan Africa. Ugandan startup Opareta fills technological gaps for mobile money operators with a comprehensive digital operating system that allows efficient oversight of agent networks including tools for cash reconciliation, float approvals and disbursements and effective loan management. The platform also provides performance analytics, field team management, KYC capture, and CRM services for enhanced efficiency and customer engagement.
“The reliance on outdated tools such as physical ledgers and USSD codes for transactions has long been a bottleneck in the sector,” states Mike Schwartz, co-founder of Opareta. “We address this challenge head-on with our digital operating system, designed to improve liquidity management, performance analytics and digital identity creation for agents. This shift promises not only improved operational efficiency but also a leap toward financial inclusivity.”
By creating robust digital infrastructure and tools, Opareta aims to significantly enhance the operational efficiency of mobile money operators and other digital financial services providers.  
“Opareta's approach aligns with the needs of an evolving financial landscape where mobile money operators seek to drive efficiency and agents seek more than just transactional tools,” states Diana Njuguna, senior investment manager at Renew Capital. “They need systems that offer transparency, autonomy, provide insightful data and seek to support the evolution of mobile money agents into multifaceted service platform operators. This investment aims to alter the landscape of financial transactions and services across the region.  
*Ecosystem activation, pipeline development and capacity-building support provided to Renew Capital portfolio companies is generously supported by Global Affairs Canada.
Renew Capital is an Africa-focused impact investment firm that backs innovative companies with high-growth potential. Renew Capital manages investments made on behalf of the Renew Capital Angels, a global network of angel investors, foundations and family offices who seek financial returns and sustainable social impact. For the latest on investing in Africa, subscribe and follow us at our social links below.

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