
New Investments
Renew Capital Invests in Power Financial Wellness to Boost Financial Health for Workers in Africa

Renew Capital has announced its investment in Power Financial Wellness, a fintech platform dedicated to enhancing financial management tools for workers across formal and informal sectors.
Operating in Kenya, Uganda, Tanzania, Zambia, Rwanda, and India, Power Financial Wellness offers a comprehensive digital platform that equips workers with tools to manage their finances more effectively.
By partnering with employers and gig platforms, the company provides access to services aimed at reducing financial stress and boosting productivity.
Additionally, the platform serves banks, lenders, SACCOS, and HR platforms seeking to digitize or integrate financial services.
The platform’s features include earned wage access, enabling employees to access a portion of their income before payday to avoid high-interest lending options.
It also offers savings and investment plans, long-term loans, and insurance premium financing, supporting workers in securing health, funeral, and other essential insurance policies.
“We believe in empowering individuals by giving them access to tools that enable them to pay, save, borrow, and protect their financial health,” said Brian Dempsey, founder of Power Financial Wellness.
“By linking these services directly to earnings, we provide a seamless way for workers to reduce stress and take control of their financial futures.”
Esther Mwikali, senior investment manager at Renew Capital, praised the platform’s impact, noting its significance in addressing financial needs across economies.
“Power Financial Wellness is addressing a critical need in both the formal and informal economies. Their platform offers a comprehensive, easy-to-use solution that empowers workers to manage their finances, access savings and loans, and protect their future. We are committed to continue backing growth-oriented founders across the continent,” Mwikali stated.
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