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The Uganda-based digital lending fintech startup, Numida, has said it will start offering its services to micro, small, and medium-sized enterprises in other African countries. Numida\u2019s plans to offer its services to businesses beyond Uganda\u2019s borders came shortly after it was announced that the startup had raised a total of $12.3 million in its pre-Series A funding round. Serena Ventures, a venture capital firm founded by American tennis player Serena Williams, led the funding round. <\/strong><\/p>\n Numida, the Uganda-based fintech, 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\u2019 venture capital firm Serena Ventures. Also participating in this funding round were Breega, 4Di Capital, Launch Africa, Soma Capital and Y Combinator.<\/p>\n<\/p>\n In comments following Numida\u2019s 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:<\/p>\n I\u2019m most excited about continuing to build and provide financial products for these micro and small business owners \u2026. There are so many of these businesses across the continent, we really do believe that we\u2019ve proven a model in Uganda that can be Pan-African and unlock the potential of these businesses to grow and achieve great things.<\/p>\n<\/blockquote>\nUnlocking the Potential of Small Businesses in Africa<\/h2>\n
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Prioritizing Small and Medium-Sized Enterprises<\/h2>\n