Meet Nic Rawhani - an ex-McKinsey consultant who's tackling one of Africa's most pressing challenges with AI. Nicholas is building Vula, a startup that's using artificial intelligence and alternative data to address the staggering $400B+ funding gap facing SMEs across Africa - the world's fastest-growing continent with over 1 billion people.
The concept is elegantly simple: Vula uses AI to make it frictionless for businesses to connect with and negotiate with hundreds of capital sources, while simultaneously helping those capital providers better analyze and underwrite companies using AI and alternative data sources.
This conversation, originally recorded with the Frontier Markets Institute in 2023, dives deep into not just AI's transformative role, but also the fundamental challenges of African SME funding. It's a masterclass in what happens when domain expertise meets a massive problem and leverages cutting-edge technology (LLMs & agents) to change the game.
Here's what you'll learn in this episode:
How AI is Transforming SME Funding: Discover how Vula is using artificial intelligence to analyze alternative data sources and create comprehensive funding profiles that traditional banks miss
The Data Revolution in African Finance: Learn about how new data sources and AI are helping bridge the trust gap between capital providers and SMEs
Inside Africa's Currency Challenge: Get unique insights into how the Naira's fluctuations impact SME funding and how technology is helping businesses navigate these waters
The Hidden World of African SME Finance: Understand the current financing ecosystem in key markets and who the meaningful players really are
Digital Transformation on the Continent: Explore the state of digitization across African markets and what it means for the future of business funding
YouTube Link:
You can connect with Nic on LinkedIn and learn more about Vula @ Vula VC.
This episode exemplifies why I'm excited about the intersection of AI and fundamental industries (ie banking)- it's not just about technology, it's about using technology to solve fundamental human problems at scale. I hope you enjoyed it as well :)
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