Kevin Mutiso founded Alternative Circle in March 2016 with a mission to give financial access to over 200 million people globally. In 2017 Alternative Circle closed a seed round of $ 1.1 million from CreditInfo for scaling operations and growth of the company . The strategic partnership with CreditInfo enabled Alternative Circle further develop the credit scoring technology and access to over 200 developers and 25 data scientists, making it easier for Alternative Circle to become the leading Financial Technology Innovator in the country.
Alternative Circle is channel for financial institutions who do not have the human capital or infrastructure to give micro loans to disburse micro loans to Shika customers. Currently Alternative Circle has raised $10million from financial institutions for the lending pool.
7th June, 2017
Kenyan fintech startup Alternative Circle has raised US$1.1 million in funding from international credit risk management company Creditinfo Group to help it achieve a wider geographical footprint.
2nd October, 2017
Alternative Circle, the Kenyan mobile lending startup running micro-credit Shika app has raised $1.1 Million in seed funding to take on incumbents Tala and Branch.