AI-Backed TebitaFund Promises Faster, Verified Fundraising in Ethiopia

Ethiopia’s nascent crowdfunding sector saw a new entrant last week with the official launch of TebitaFund.  The platform enables the mobilization of funds for medical needs, education, emergencies, charity, and community projects.

Founded by Ezedin Kamil, CEO of Tina Mart and IBEX Technology, the platform uses an AI-backed verification system to vet campaigns before they go live. The system checks that campaigns are human-written, filters out inappropriate content, and ensures fundraising goals align with the stated purpose.   

According to Ezedin, this automated vetting allows campaigns to launch quickly without compromising due diligence. “Creating a fundraising account on TebitaFund takes no more than a minute,” he told Shega.  

Operationally, the startup has adopted a lean asset model. Unlike legacy platforms that hold client funds, TebitaFund charges a flat 5% commission on all funds raised and relies on integrated third-party processors for fund custody, rather than holding funds directly in a separate escrow wallet managed by the company.  

This structure is intended to speed up cash-outs and reduce liability, according to Ezedin. Though, the founder admits that shifting user behavior away from established global brands is a challenge, noting that the company is actively pursuing partnerships with NGOs leveraging previous experience with organizations like Bladeraw and Yemlktgnakle Charity to validate the platform’s utility for institutional fundraising.    

“The goal is to make fundraising accessible and responsive,” Ezedin said. “Even in rural areas, a user can open an account, submit a campaign, and start collecting donations almost immediately.” 

The platform supports eight local payment methods, including Telebirr and CBE Birr, as well as debit and credit cards and international payments through Chapa, a local payment aggregator. 

Within a week of its launch, the website has attracted roughly 7,000 visits, with many users testing the donation process, some contributing as little as 1 or 10 Birr. Around 38 campaigns have been approved so far, most of them personal pledges (such as scholarships) or small-scale technology needs (e.g., server purchases). On the donor side, the platform already counts over 250 registered users. 

The launch of Tebita comes amid a backdrop of formalizing regulatory oversight around crowdfunding platforms. The Ethiopian Capital Market Authority (ECMA) in early 2024 introduced licensing frameworks for crowdfunding, signaling a shift toward a more structured sector.  

ECMA’s crowdfunding intermediary license allows startups to raise funds through authorized platforms. The license requires a minimum capital of five million birr and an application detailing the crowdfunding system, technical specifications, business model, and planned activities. 

TebitaFund currently operates under a standard PLC trading license but has indicated plans to align with ECMA’s emerging capital market guidelines. Despite several attempts by Shega, ECMA did not provide comments on crowdfunding platforms before publishing.   

A few crowdfunding platforms have emerged in the past few years primarily focused on raising funds for humanitarian objectives. Santimpay Financial Solutions, a payment operator launched a crowdfunding platform last year focused on donations. While platforms like Mella Crowdfunding have been around for a bit longer with broader offerings including the fund-raising opportunities for early-stage startups.