Angaza
“Can PAYG software become the operating system for last-mile distribution to the world's underbanked 2 billion?”
Founded2010
HQSan Francisco, California, United States
Total raised$29.5M
Latest roundSeries B, 2020
IndustryVertical SaaS / Last-mile distribution (PAYG)
The story
Founded 2010 to solve last-mile distribution of solar and life-changing products in emerging markets. Angaza's core product is PAYG software that lets distributors sell devices on installment plans to consumers without access to traditional banking — with remote lock/unlock enforcement via IoT integration. Over time the company evolved from a pure PAYG SaaS toolkit into a broader distributor operating system spanning sales, inventory, workforce management, mobile-money payment collection (60+ providers), and a captive debt fund (SIMA Angaza Distributor Finance Fund) for distributor working capital.
Last 12 months
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Product timeline
2010
Angaza founded in San Francisco to enable PAYG solar for off-grid consumers· founding
2015
Raised $4M Series A to scale PAYG software for solar distributors· funding
2017
Laurene Powell Jobs' Emerson Collective invests in Angaza· funding
2019
Launched Angaza Connects API for third-party integrations· product
2019
Announced Mastercard partnership focused on off-grid consumers· partnership
2020
Closed $13.5M Series B led by KawiSafi Ventures; crossed 12M lives impacted· funding
2020
Launched SIMA Angaza Distributor Finance Fund providing debt capital to last-mile distributors· lending
The stack
3 layers disclosed in Angaza’s embedded-finance stack
Payments / PSP
Mobile money aggregation (self-operated, 60+ providers)
Lending
in the full report
Accounting
in the full report
Accounting gap: significant
5 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.