Kenyan fintech startup Odibooks has launched an accounting platform that allows SMEs to automate and manage all of their business financial processes.
Launched in February by Maxwel Odira and Erick Odudo, Odibooks is a web-based accounting platform for SMEs across East Africa, helping businesses with things like quotation, order and invoice management, inventory management, and financial reports.
The Odibooks provides customers with automated invoices and payments from their customers using only their existing M-Pesa Till Number, M-Pesa Paybill number, or their bank account, removing the need for businesses to apply for M-Pesa API access from Safaricom.
“SMEs also have automated bills and expenses payments using M-Pesa if their suppliers accept bank payments to banks in Kenya or Paybill numbers or Till numbers,” Odira said. “Odibooks automates tax management, and provides ready to upload Excel tax reports for filing. SMEs also have an option to set automated reminders whenever item inventory reaches a certain value for easier restocking.”
The self-funded startup is actively looking to raise its first round of funding to scale its operations., having already onboarded dozens of businesses. It currently operates in Kenya with planned launches in Rwanda, Uganda, and Tanzania within a year.