Irish-founded Umba aims to be biggest African bank by 2027
The full-service digital bank, set up by two Limerick natives, is also considering a move into the Middle East
Could two lads from Limerick end up running the biggest bank in Africa? That’s certainly the plan for Umba, an Irish-founded fintech which is also weighing up the possibility of entering other regions.
Umba, which last month raised €13.8 million from investors, may only be in one market currently, but it is looking to expand quickly across the African continent, home to an estimated 1.27 billion people, more than half of whom are unbanked.