Overview

Name: Power Financial Wellness (also branded as Power)

Founded: 2019

Headquarters: Nairobi, Kenya

Founders: Chandramanshu Singh and Brian Dempsey (CEO)

What They Do

Power is a financial wellness and fintech platform designed for both individuals and organizations. Its focus is on helping workers — especially in underserved or informal segments — access better financial tools.

Its main services include:

Earned wage access: Letting employees access part of their salaries before payday.

Savings and investments: Digital tools to help users grow their money.

Loans: Affordable and accessible credit for workers.

Insurance and protection products: Helping users safeguard their financial wellbeing.

Power also partners with companies to improve employee financial health and works with banks and lenders to extend financial services.

Funding & Backing

Total raised: Around $3 million through seed funding.

Investors: Includes global and African-focused venture capital funds such as DOB Equity, QED Investors, Zephyr Management, Quona, and the Catalyst Fund.

Latest round: A seed round closed in late 2024.

Markets & Reach

Primary operations are in Kenya.

The company has also expanded into Uganda.

Target customers are both individual employees and employers who want to provide financial benefits to their workforce.

Mission & Impact

Power’s mission is to improve financial wellbeing by giving people tools to manage income, avoid harmful debt, save, invest, and access protection. Their model is especially tailored for underserved groups who lack reliable access to traditional financial services.

Key Challenges

Like many fintechs in the region, Power faces hurdles such as:

Navigating financial regulations around lending and insurance.

Building trust among users in informal sectors.

Keeping costs low to ensure affordability.

Competing in Kenya’s busy fintech and financial inclusion space.