Power Financial Wellness
“Can workplace-integrated financial wellness — EWA, savings, credit and insurance delivered via employers and mobile money — become the default banking layer for African workers?”
Founded2019
HQNairobi, Kenya (parent: Wilmington, Delaware, USA)
FoundersBrian Dempsey, Chandra Singh
Total raised$3M+ (disclosed seed)
Latest roundLater Stage VC
IndustryFintech / Earned Wage Access
The story
Founded 2019 in Kenya as a workplace-banking / EWA platform for African workers. Positions itself as a full-stack financial wellness provider (Pay, Save, Borrow, Protect) delivered through employers, banks, SACCOs and HR tech platforms rather than direct-to-consumer. Operates its own regulated lending entities in each country (Frictionless Enterprises in Kenya, Frictionless Financial Services in Uganda) and builds on top of MNO Mobile Money (M-Pesa, MTN, Airtel) rather than card rails — a fundamentally different embedded-finance stack from US/EU EWA peers.
Last 12 months
Product timeline
2019
Founded by Brian Dempsey and Chandra Singh to deliver financial wellness to African workers· founding
2021
Raised $3M seed round led by Zephyr, First Circle Capital, Quona, QED to scale earned wage access across Sub-Saharan Africa· funding
2022
Launched Power to Pay (EWA), Save, Borrow product lines in Kenya· banking
2025
Received Central Bank of Kenya Digital Credit Provider licence (CBK/DCP/2025/99)· regulatory
2026
Obtained Kenya Insurance Regulatory Authority licence; expanded into Uganda, Zambia, Rwanda, Tanzania· expansion
Regulated entities
3
regulatory licences held by Power Financial Wellness
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Power Financial Wellness’s embedded-finance stack
Payments / PSP
MNO Mobile Money (M-Pesa, MTN, Airtel — disbursement rail)
Banking / BaaS
in the full report
Lending
in the full report
Insurance
in the full report
Accounting gap: significant
9 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.