Andrew Milne's innovative work at Kuunda transformed small business financing in Africa, leaving a lasting impact after his untimely passing.
Andrew Milne, co-founder of Kuunda, passed away on October 13 at the age of 54. His death came just days after the company celebrated the completion of a secondary share sale, which marked a significant milestone for the fintech startup he co-founded in 2018 aimed at providing credit solutions for small businesses across Africa.
Kuunda's mission arose from the ongoing struggle faced by small businesses and mobile money agents regarding cash flow, despite their connectivity to digital payment networks. Milne, alongside co-founders Sam Brawerman and Morné van der Westhuizen, initiated the development of innovative liquidity products starting in Tanzania. This meant fashioning technology enabling banks and digital platforms to seamlessly extend credit within existing services, effectively using transaction data to assess potential borrowers.
What sets Kuunda apart is its unique, non-intrusive approach to financial services. Instead of trying to become a household name, the company focused on integrating its solutions directly into the tools small businesses already used. This strategy allowed them to potentially reach millions without heavy branding or marketing efforts. “We’re a media-shy company,” Milne reflected during a 2025 interview with Techpoint Africa. Kuunda initially partnered with M-PESA Tanzania to develop financing capabilities for mobile agents, eventually expanding its offerings into broader lending products.
Building a Foundation in Fintech
Before launching Kuunda, Milne had built a robust career in mobile health and financial services. He served as managing director of Virgin Lifecare and later as CEO of Hello Doctor, a service connecting individuals with medical advice via mobile technology. He also held the position of Chief Operating Officer at Zoona, another mobile money company. Each of these roles reinforced his belief in overcoming traditional barriers to provide needed services.
Milne's journey in fintech was characterized by a combination of resilience and innovation. Under his leadership, Kuunda expanded its footprint beyond Tanzania and Pakistan into other African nations such as Uganda, Malawi, Kenya, and Mozambique. This growth was highlighted by the company's announcement of a $7.5 million pre-Series A funding round in October 2025, enabling further expansion and solidifying its market presence.
A Legacy of Vision and Impact
The company’s recent secondary share sale, totaling $5 million, came to fruition as part of an effort to allow early investors to realize returns while facilitating future growth. The transaction was executed with a group led by E4E Africa, and existing investors such as Accion Ventures, Portugal Gateway Fund, and Seedstars Africa Ventures opted to increase their stakes. This strategic move represents how Milne's vision had started to manifest into tangible benefits for stakeholders.
Kuunda’s statement following Milne’s passing characterized him as an energetic and resilient leader who was beloved and respected among his colleagues. The company's progress and the legacy it aims to continue reflect Milne’s innovative spirit and commitment to expanding financial access. “Kuunda’s next chapter will now be written without him, and we will carry it forward in a way that honors what he started,” the statement read, signifying both a tribute and a commitment to continuing the work he championed.
Milne is survived by his wife, Alison, and their children. His contributions to fintech, especially in facilitating credit for small businesses, will not only be remembered by those who worked closely with him but will also continue to impact countless individuals and enterprises across various markets.
For entrepreneurs and founders looking at Milne’s legacy, there are several practical takeaways. Firstly, the importance of understanding and addressing specific local challenges is paramount. Milne identified the cash flow issues prevalent in the small business sector and designed Kuunda’s services around those needs. Moreover, embracing a media-shy but impactful approach to branding can yield significant results when aligned with user needs. Finally, the focus on partnerships—like that with M-PESA—demonstrates how collaborations can lead to extensive reach without overwhelming marketing resources.
In the ever-evolving fintech landscape, the principles Milne embodied can serve as a guiding light for future innovators aiming to carve out their paths in connecting underrepresented markets with essential services.
