DFS Lab

Founded in 2015 by Jake Kendall and Stephen Deng, DFS Lab is a Seattle, Washington-based early-stage investor and accelerator focused on Sub-Saharan African and Southeast Asian fintech startups. Supported by a $4.8 million grant from the Bill & Melinda Gates Foundation, the firm provides seed funding and mentorship to entrepreneurs building financial inclusion solutions, typically writing initial checks between $25,000 and $250,000. The organization has backed over 45 companies and deployed more than $51.3 million across its active investments, targeting low-income and unbanked populations. Its investment portfolio features prominent regional technology companies operating in payments, lending, insurance, and identity platforms, including notable startups such as NALA, GoBEBA, VendEase, Terraa, and Pula. Additionally, the firm operates the DFS Lab Stellar Africa Fund I in partnership with the Stellar Development Foundation to support blockchain-based payment networks.

DFS Lab is an investment and advisory firm specializing in scaling digital financial services and technology across Africa. It functions as a venture builder, investor, and strategic advisor, leveraging market research to cultivate high-potential ventures. The firm collaborates with public and private sectors to design, build, and expand innovative tech solutions, transforming insights into impactful enterprises.

Founded in 2016 by Jake Kendall, formerly of the World Bank, and Stephen Deng, DFS Lab emerged from recognized, untapped potential within Africa's tech landscape. Their vision bridges research and practical application, providing capital and expertise to accelerate digital financial services. This fosters early-stage startups poised for significant economic impact.

DFS Lab primarily supports early-stage African tech ventures and collaborates with institutions on strategic initiatives. Its long-term vision centers on fostering a robust digital innovation ecosystem, empowering communities through accessible financial tools. The firm aims to drive economic inclusion and growth by backing founders understanding the informal economy.