Oze
“Can a digital bookkeeping app for African SMEs become the credit infrastructure layer for banks and MFIs across the continent?”
Founded2018
HQAccra, Ghana
FoundersMeghan McCormick, Dave Emnett
Total raised$4.6M
Latest roundPre-Series A, 2022
IndustryVertical SaaS / SMB Fintech Africa
The story
Founded in 2018 as a digital bookkeeping app for African SMEs, Oze layered embedded lending on top of the financial data its users generated — converting transaction records into credit scores. The company evolved from a pure SME tool into a two-sided fintech platform: Oze Business App for SMEs and Oze Originate / Oze Embed for banks, MFIs, and B2B platforms that want to offer lending infrastructure. The 2025 backing from Visa and DEG signals a move toward becoming foundational infrastructure for SME credit access across Africa.
Product timeline
2018
Founded in Ghana by Meghan McCormick and Dave Emnett as a digital bookkeeping app for African SMEs.· banking
2021
Raised $700K seed round and launched embedded lending features tied to bookkeeping data.· lending
2022
Raised $3M pre-Series A led by Speedinvest to scale digital recordkeeping and embedded finance products across Africa.· lending
2023
Launched Oze Embed — an embedded B2B lending product enabling platforms to offer merchant financing (inventory/invoice financing).· lending
2024
Launched Oze Originate — an end-to-end lending management system for banks and MFIs to digitize SME lending from origination to collections.· lending
2025
Secured investment from Visa and DEG (German Development Bank), signaling strategic alignment with global fintech infrastructure and development finance.· acquisition
The stack
1 layer disclosed in Oze’s embedded-finance stack
Lending
Oze Cash Now (invoice financing for SMEs)Oze Embed (embedded B2B merchant financing / inventory financing for platforms)Oze Originate (end-to-end lending management system for banks and MFIs)SME Loans (loan marketplace matching SMEs with financial institution partners)
Accounting gap: minor