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
