YC-Backed NeoBank Lenco Expands to Zambia, Strengthening Pan-African Reach

Lenco, the pan-African digital bank for businesses, has officially launched its operations in Zambia, marking a significant milestone in its mission to build a robust financial ecosystem for small and medium-sized enterprises (SMEs) across the continent.

Founded in 2021, Lenco has quickly become one of Africa’s leading neobanks, offering a comprehensive suite of services tailored to the unique needs of businesses. Unlike many digital banks that focus on individual consumers, Lenco provides tools such as multi-user business accounts, corporate cards, expense management, and seamless cross-border payments — critical resources for African entrepreneurs navigating an increasingly interconnected world.

Lenco is backed by leading institutional investors, including Y Combinator, Techstars, Pioneer Fund, and other prominent venture funds. This strong support has allowed the company to accelerate its mission and expand into new markets across the continent.

Andrew Airelobhegbe, CEO and Co-founder, emphasized the importance of local context in Lenco’s approach: “Our goal is to understand the specific challenges that Zambian businesses face and tailor our solutions to meet those needs. We’re not just bringing a product — we’re bringing a long-term partnership built on trust, innovation, and collaboration.”

“Zambia’s vibrant entrepreneurial ecosystem aligns perfectly with Lenco’s mission,” said Impact Airelobhegbe, Co-founder and Chief Operating Officer. “We’re here to empower Zambian businesses with tools that go beyond just banking — we’re building a platform that supports them as they grow and thrive, whether they’re launching locally or expanding regionally.” As the COO, Impact Airelobhegbe is focused on ensuring a seamless market entry and operational excellence in newmarkets. “We’re committed to not just entering the Zambian market, but doing so thoughtfully and sustainably,” he added. “We’re building strong local teams, engaging with the community, and making sure that every step of our expansion is rooted in local insight and partnership. That’s how we ensure Lenco delivers real, lasting value to businesses in Zambia.”

Lenco’s entry into Zambia comes at a time when demand for digital financial services in Africa is at an all-time high, driven by a surge in entrepreneurship and digital adoption. By partnering with local businesses and stakeholders, Lenco aims to play a key role in driving Zambia’s economic growth and empowering businesses with modern, reliable financial tools.