Patika, a kenya-based startup was part of Y Combinator Africa startup summer 2022 Batch. Small businesses in Africa can track client debt, arrange repayments, and manage their financial flow thanks to Patika.
Small companies in Africa still manage and record client debt on paper by hand, which is inefficient and time-consuming.
As a result, up to 60% of their money is paid late, costing them up to $2,000 annually in lost revenue.
With a goal of developing into a full-stack neo-bank for Africa’s small companies, we are automating formerly manual operations including payback reminders via phone calls, billing, payments, and reconciliations.
Patika was Co-founded by Phelix Juma and Sidney Rema. Phelix claims that Patika is working to create the next Neo-bank for African small enterprises.
Patika presently employs a limited number of people because it is still in its early phases, but after receiving funding from Y Combinator, they are expected to expand in the future.