NUMIDA

What they do:

NUMIDA Technologies is a digital lender based in Uganda, focused on providing a seamless and rapid access to credit for SMEs across Uganda. Numida supports semi-formal micro and small businesses with digital working capital loans of $100-$5,000 disbursed via mobile money. Entrepreneurs can access credit in as little as 2 hours from the comfort of their business without paper-work, collateral, or lengthy wait times.

Why we invested:

NUMIDA has a differentiated and iterative risk pricing lending model for East African MSMEs that are financially excluded. The tech based vetting and collection processes is highly innovative. The business has experienced founders with ambitions to scale beyond Uganda to the broader East African region and more.

The Founder:

Mina Shahid is the Co-Founder and CEO of Numida

Active in:

Uganda