Haraka

Haraka is a blockchain-based community credit protocol that issues stablecoin microloans to underserved entrepreneurs, particularly in Africa. Its core model uses social reputation—derived from group savings dynamics, repayment history, and social guarantees—as a form of collateral, replacing traditional credit histories that most borrowers lack. It targets a critical pain point: over 80% of African households have no access to formal credit, and the continent faces a $331 billion credit gap. By leveraging Village Savings and Loan Associations (VSLAs), which historically have a 99% repayment rate, Haraka aimed to connect these informal groups with global liquidity through tokenized private credit markets.

In the six months from March to September 2026, Haraka have shut down. On May 1, 2026, they announced the closure of the Bondy app and wind-down of Haraka itself. The team size had already shrunk by 20% in the preceding month, and key executives including the CTO and COO departed earlier in 2026. This shutdown followed a pivot to Bondy, a USD-based consumer account, which failed to reach sustainability. The company's web presence was minimal (around 2,000 monthly visits) and its operational footprint had dwindled to just a few employees. These developments indicate that despite its innovative approach, Haraka was unable to achieve commercial viability.