Target Global-backed fintech Kippa is reportedly pivoting to edtech
- Kippa, a financial management startup, is pivoting from fintech to edtech.
- They are testing a new edtech service that utilizes AI and allows users to create and engage in online courses.
- Kippa has introduced a dedicated website for this new product and is incorporating messaging tools like WhatsApp and Telegram for course delivery.
Kippa, the financial management startup supported by Target Global, is undergoing a significant pivot, shifting its focus from fintech to edtech. According to a former employee familiar with the company's operations, Kippa is currently testing a new edtech service that leverages artificial intelligence (AI). This innovative platform allows users to effortlessly create online courses or engage in existing ones, delivered in bite-sized formats.
The startup has introduced a dedicated website for this new product, enabling users to develop online courses and utilize messaging tools such as WhatsApp and Telegram for course delivery. This strategic move indicates Kippa's proactive response to evolving market demands and its determination to explore new avenues beyond its previous fintech initiatives.
As part of this transition, Kippa has discontinued and abandoned certain projects. Sources revealed that there were plans to integrate the now-closed agency banking product with the bookkeeping app before the shift in focus towards edtech.
Points clés à retenir
Kippa's departure from financial management and bookkeeping comes as no surprise, considering the challenges the company faced in the past year. In 2023, Kippa confronted difficulties that led to the tough decision of shutting down Kippa Pay, its agency banking business. This move resulted in the unfortunate layoff of 40 employees, a decision that caught at least two ex-employees by surprise. The restructuring reflected the company's response to market dynamics and its strategic realignment in the face of operational challenges. Subsequently, KippaPay found a new home under the wing of the Nigerian fintech company Bloc. As part of this transition, some of Kippa's former employees also joined Bloc, facilitating a smoother process for both companies. The pivot away from financial services underscores Kippa's resilience and adaptability in navigating a changing landscape and signals its commitment to exploring new opportunities in the tech industry beyond its initial focus on financial management.