How PayJoy built a $300M business by letting the underserved use their smartphones as collateral for loans

Lerato Motloung is a mother of two who works in a supermarket in Johannesburg, South Africa. After her phone was stolen, Motloung had to go without a mobile phone for nine months because she could not afford a new one. Then, in February 2024, she saw a sign about PayJoy, a startup that offers lending […]

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