🌍 Embracing Financial Inclusion: Harnessing Local Stablecoins and Social Reputation Exciting developments are underway in global finance, particularly in how underserved communities access capital. At Haraka, alongside Mento Labs, Clixpesa, and Kotani Pay, we've embarked on a groundbreaking journey in Kenya. Together, we've launched a pioneering pilot program using local stablecoins (cKES) and social reputation to empower micro-entrepreneurs in accessing capital. Since May 2024, over 1 million cKES has been disbursed to 114 micro-entrepreneurs, marking a significant leap towards providing access to the capital entrepreneurs need to grow their businesses. Our approach not only provides essential capital but also integrates community insights to redefine credit assessment, leveraging the power of social reputation within close-knit networks. By validating creditworthiness through social reputation, we empower individuals typically marginalized by traditional systems. This model not only reduces borrowing costs but also enhances financial literacy and strengthens community bonds. Read more about our journey here https://lnkd.in/eHhyQmZ3 and the potential it holds for global financial inclusion. 🌱💡
Haraka
Financial Services
Haraka issues stablecoin-based microloans based on social reputation.
About us
Haraka is a blockchain-based community credit protocol that leverages social reputation as a form of ‘collateral’ for underwriting. Haraka connects real-world asset investors in the tokenized private credit markets to entrepreneurs around the world who need capital to expand their businesses with loans in local stablecoins.
- Website
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https://haraka.xyz
External link for Haraka
- Industry
- Financial Services
- Company size
- 2-10 employees
- Type
- Privately Held
- Founded
- 2024
Employees at Haraka
Updates
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Super excited to share that we have joined Outlier Ventures' RWA Base Camp cohort. 💥 This marks a pivotal step in advancing social reputation for micro-lending in emerging markets. Thrilled to have the support of experts and advisors accelerating our growth for the next 12 weeks. Stay tuned for exciting updates from Haraka in the weeks ahead!
📣 We are excited to announce our RWA Base Camp cohort We selected 6 startups focused on advancing innovation of Real World Assets (RWAs). Their mission is to revolutionise the accessibility, transparency, and efficiency of Real World Assets (RWAs) through blockchain technology and decentralized finance (DeFi). 🤝 We are thrilled to partner with the Celo Foundation ecosystem, the emerging Ethereum Layer-2 and mobile-first blockchain network built for the real world and designed for fast, low-cost payments worldwide and also have the support from Defactor, a RWA infrastructure and technology provider. We can't wait to see what the future unfolds for this community of innovators in the RWA landscape! ⛺ Meet the cohort: 1/ Credbull 🇦🇪/ 🇸🇬 High fixed-yield private credit regardless of market cycles 2/ Credible Finance 🇮🇳/ 🇸🇦 Credible offers lending and borrowing secured by RWAs. 3/ Haraka 🇺🇸/ 🇫🇷 Haraka issues stablecoin-based microloans based on social reputation. 4/ Isle Finance 🇹🇼 Addressing supply chain liquidity challenges through RWA DeFi solutions. 5/ moreliquid 🇬🇧 Liquidity for investments through digital finance. 6/ Silver Koi 🇺🇸/🇭🇰 RWA perpetuals protocol for professional traders, powered by the first custom blockchain optimized for institutional trading 👉 Learn more the teams here: https://lnkd.in/dk_Wug2c
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🚀 Unveiling Haraka: A New Brand Identity made for the Hustlers 🌍✨ We’re thrilled to introduce Haraka’s new look, designed for the dreamers, the hustlers, who turn obstacles into opportunities. Our rebranding captures momentum and connection, bridging micro-entrepreneurs and capital providers through reputation. With vibrant colors and bold design, Haraka embodies optimism and drive. Discover the journey and meaning behind our rebrand in our latest article. 👉 https://lnkd.in/ea5FJRCV
Haraka: Unveiling the brand where hustlers flourish
https://haraka.xyz
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Did you know that saving circles are the true pioneers of DAOs? Dive into our latest Medium article to learn more about the synergy of tradition and innovation within community-saving dynamics. Explore how we're empowering traditional saving circles, integrating off-chain information onto the blockchain, all while harnessing the power of WhatsApp. Learn more about our findings and insights here: https://lnkd.in/eS5N6kee #FinancialInclusion #CommunitySavings #Innovation 🌱
Powering WhatsApp for Savings: A Glimpse into Community Savings Dynamics in Uganda
medium.com
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📢 Unlocking the Concept: Exploring Haraka's Vision Curious to learn more about Haraka and our mission to revolutionize community finance? Check our latest Medium article, where we explore the concept behind Haraka and how we're transforming finance for underserved communities. In this article, we delve into the innovative blend of technical prowess that powers Haraka, and how it brings traditional finance methods to the digital age. Discover how we're leveraging technology to provide financial solutions directly to self-organised groups through WhatsApp. Ready to learn more? Read the article here: https://lnkd.in/eGhUcqmx #Haraka #DeFi #AI #FinancialEmpowerment
Unveiling Haraka: Community Finance in the Web3 revolution
medium.com