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Umba profile

Who owns Umba?

traditional · Lagos/Nairobi · Partner-bank model · custody: Custodial

short answerUmba is not itself a bank. It runs on a partner-bank (BaaS) model, where a licensed sponsor bank holds the deposits behind the app while Umba builds the product and interface.

Is Umba a licensed bank?

No — it runs on a sponsor bank (BaaS model). Licence detail: Microfinance bank licence in Kenya (majority stake in Daraja MFB, CBK-approved 2022); Nigeria via partner bank.

Where is your money held?

Custody model: Custodial.

No sponsor bank or infrastructure provider is publicly documented for Umba yet. Know one? Suggest it.

Who's behind Umba?

Umba was founded by Tiernan Kennedy, Barry O'Mahony (2018), headquartered in Lagos/Nairobi.

Is my money safe with Umba?

Deposits are held by Umba's sponsor bank, so any insurance flows through that bank rather than Umba. Check which sponsor holds your balance and whether it is passed through for per-customer coverage.

go deeperSee the full Umba profile with every verified field, or Umba alternatives. Raw fields: data.json.

Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.