Uganda Fintech Startup Numida Raises $12.3M Led by Serena Ventures
Numida, the Uganda-based fintech startup, has said it plans to take its digital lending business outside the country, using part of the $12.3 million it raised via its pre-Series A equity-debt funding. The round was led by the U.S. tennis star Serena Williams' venture capital firm Serena Ventures. Also participating in this funding round were Breega, 4Di Capital, Launch Africa, Soma Capital and Y Combinator.
In comments following Numida's successful capital raise, co-founder and CEO Mina Shahid reportedly touted the impact of the financial products his company has been availing to small businesses in Uganda, and how this can be replicated in other African countries. Shahid said:
"I'm most excited about continuing to build and provide financial products for these micro and small business owners…There are so many of these businesses across the continent, we really do believe that we've proven a model in Uganda that can be Pan-African and unlock the potential of these businesses to grow and achieve great things."
Source: Bitcoin.com
Subscribe Now
