Cyanase is leveraging financial technology to democratize digital investment, making it accessible to a wider audience in Uganda. As part of the ongoing #40Days40FinTechs Initiative, Cyanase showcased its innovative platform on Day 17 of Season 5, highlighting how technology can transform investment opportunities.
The advancement of technology has revolutionized various sectors, including investment. Traditionally, investing involved tangible assets like land or real estate.
However, with the rise of digital platforms, individuals can now invest in intangible yet potentially lucrative ventures. While this shift presents unique challenges, the right approach and partnerships can lead to significant rewards.
Founded by students from Makerere University, Cyanase is at the forefront of this digital investment movement in Uganda. The platform aims to make investment accessible to everyone, particularly in underdeveloped markets.
Mark Obini, the Chief Marketing Officer of Cyanase, elaborated on the platform’s offerings.
“At Cyanase, we have three major products. We have the web platform, API, and fund managers’ portal. Each of these platforms serves a different customer. The web platform is for daily users. It enables them to understand how the different investments work before they start investing in them. The API is a technology that a FinTech or Bank can integrate into its platform and use it to serve its customers. The fund managers’ portal is for the managers who manage the investment. We offer our customers different investment products such as unit trust, treasury bills and bonds, and real estate, among others.”
Cyanase operates under the regulatory framework of the Uganda sandbox, managed by the Bank of Uganda, which enhances its credibility and operational legitimacy. Currently, the platform boasts nearly 3,000 subscribers, with about 1,000 active investors.
Obini acknowledged the challenges faced by the company, including funding, market awareness, and reach. However, participation in the #40Days40FinTechs initiative has significantly boosted their visibility and credibility:
“Before we featured on 40 Days 40 FinTechs, the market didn’t know us that much. But after this, our awareness and interest from potential customers grew. We now seek more collaborations with like-minded people to further scale this platform and serve more people.”
Related: Zimba Technologies is building financial systems for last-mile inclusion
