Numida.
About Company
Numida uses proprietary credit models and tech-enabled underwriting processes to provide unsecured working capital loans to African micro and small businesses. Instead of borrowing from informal lenders or family, business owners download the Numida app, apply in minutes, and receive capital within a day. There’s 20 million of these businesses in Africa representing a $5 billion market opportunity and traditional microfinance is failing them. We have figured out how to score and disburse unsecured loans to cash-based businesses that have no digital transaction history, with excellent collection rates. Since 2021 we’ve provided more than $24 million in working capital to 35,000 businesses in East Africa.
We are Uganda’s first YC-backed startup and are also backed by world class investors such as Serena Ventures, MFS Africa, Breega, and 4Di Capital. Find out more at https://numida.com.
OUR VISION:
Traditionally overlooked and underserved Micro and Small Businesses (MSBs) in emerging markets deserve to have great tech built to serve their needs. Numida is the first and largest mobile platform in East Africa focused on offering convenient, accessible, and appropriate financial services specifically to MSBs. With the wealth of data collected through our platform, we are well positioned to connect business owners to the financial and non-financial services they need in order to grow their business, whether it be credit, savings, insurance, payments, logistics, customer acquisition, or financial & HR management.
Due to our deep knowledge of our customers, Numida is becoming renowned for building technology that MSBs love. Within 10 years, we anticipate enabling at least 1 million small business owners on the continent to achieve their dreams.
