Regxta is a digital credit platform that provides unbanked individuals and microbusinesses with online banking services, micro-loans, and expense management tools through a user-friendly mobile app. By facilitating access to essential financial services, Regxta empowers underserved communities to improve their financial stability and foster economic growth.
Funding
$90K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals and microbusinesses, particularly in developing economies, lack access to traditional banking services, hindering their ability to save, access credit, and manage finances effectively. This exclusion limits economic opportunities and impedes growth for underserved communities.
Solution
Regxta provides a digital platform that offers online banking services, microloans, and expense management tools to unbanked individuals and microbusinesses via a mobile application. The platform empowers users to open accounts, manage transactions, and access credit using data science and AI for instant loan underwriting, even without prior borrowing history. By training community agents, Regxta facilitates account opening, business registration, and expense tracking, enabling financial inclusion and economic development.
Target Audience
The primary target audience includes unbanked individuals and microbusinesses in developing economies, as well as community agents who facilitate access to the platform.
Features
- Mobile application for Android and iOS, providing access to financial services on smartphones
- AI-powered loan underwriting for instant microloan disbursement, even without credit history
- Digital accounts for savings and transactions, accessible through trained community agents
- Expense management tools for tracking income and expenses
- POS terminals available on loan to agents, enabling them to act as local banking points
- Agent network with commission-based incentives for onboarding and supporting users
- Integration with Sustainable Development Goals (SDGs) to address poverty, hunger, and economic growth