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HomeFinTechNumida: Raises $12.3M in Series A Funding

Numida: Raises $12.3M in Series A Funding

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Numida Raises $12.3M in Series A Funding

  • Numida, a Kampala, Uganda-based fintech company, raised $12.3m in pre- Series A financing round
  • Serena Ventures led the $7.3m equity portion of the round with participation from Breega, 4Di Capital, Launch Africa, Soma Capital, and Y Combinator
  • The round will be completed with $5 million in debt from Lendable Asset Management
  • The company intends to reinforce its Ugandan presence and launch in two new African markets
  • The company uses proprietary credit models and tech-enabled underwriting processes to provide unsecured working capital loans to African micro and small businesses
  • The fintech aims to build on its Ugandan success in and grow its active client base to 40,000 businesses while launching in two new target markets

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