MoDE (Mobile Decisioning Company), a mobile financial technology firm in Kenya has been acquired by DT One, a leading provider of global mobile top-up solution from Singapore.
The news which was released earlier in May this year did not reveal the financial transactions involved but it indicated that MODE will become the DT One ACS division with the full integration expected to be completed before the year ends.
MODE applies data science to provide financial services to mobile users in emerging markets across Africa, the Middle East, and Asia.
Founded in 2009 by Julian Kyula, a senior pastor of the Nairobi-based Purpose Centre Church, MoDE serves more than 500 million prepaid mobile users, across 20 countries in partnership with 26 mobile operators, processing more than 18 million airtime and data loans daily. One of its products, called Nano, allows mobile subscribers to request salary advances and receive them via their mobile money provider.
Read: Nairobi-based Recycling Startup Mr. Green Africa Secures Funding From DOB Equity, Global Innovation Fund
Peter De Caluwe, CEO of DT One, said: “We are thrilled to have acquired MODE as we see their airtime credit service (ACS) as a key differentiator and growth opportunity given its natural value add to our existing global operations.”
“MODE is quite a remarkable company, which from its humble roots as a Nairobi startup in 2009, has grown into a highly successful international business and the global leader in airtime credit services – cashless micro airtime or mobile data loans.” he added.
DT One previously known as TransferTo operates a leading global network for mobile top-up solutions, innovative mobile rewards and airtime credit services; with a global network that interconnects more than 1000 active telco, digital and financial partners across 160 countries.
DT One is behind the revolutionary product that allows M-Pesa users in Kenya to send and receive money from their PayPal accounts.