Mission Mobile secures $30.9 million from DNI for smartphone financing

South African fintech startup Mission Mobile has secured $30.9 million (R500 million) in growth capital from DN Invest (DNI). The investment is intended to scale the company’s real-time handset financing platform, which aims to increase consumer access to smartphones across prepaid mobile networks.

Founded in 2023 by Tim and Adam Strike, the Johannesburg-based company utilizes a proprietary technology platform called Beam. This system conducts real-time affordability checks and live cash-flow underwriting, allowing for automated credit approvals in under two minutes. This model enables mobile network operators and retail partners to offer device financing without assuming the associated credit risk.

Mission Mobile opted for DNI’s permanent capital model over traditional venture capital to leverage DNI’s extensive physical and digital distribution footprint. The funding will support product development, customer acquisition, and workforce expansion, as the company seeks to develop additional financial and connectivity products for its network partners.