# Numida Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/numida-technologies

- Industry: Financial Services
- Headquarters: Uganda
- Website: www.numida.com
- Total disclosed funding: $7.3M
- Latest round: Series A (Jun 1, 2022)
- Investors on record: 8

## About

Numida Technologies is a Ugandan company that specializes in providing accessible business loans tailored for small and medium-sized enterprises (SMEs), empowering entrepreneurs to grow their businesses efficiently.Founded in 2016 in Uganda, Numida Technologies Inc. offers financial solutions exclusively for small and medium-sized enterprises (SMEs). The company has successfully completed a total of 4 deals, with its most recent funding round occurring on September 28, 2022, where it raised USD 5.00 mn in VENTURE DEBT from Lendable. To date, Numida has raised a total of USD 7.30 mn.Numida specializes in providing business loans specifically designed for small and medium-sized enterprises (SMEs) in Uganda. The core offering is a streamlined loan application process, enabling business owners to access financing of up to UGX 30 million within 24 hours. Clients can download the Numida app from the Play Store, where they submit a photo of their National ID, provide essential business details, and receive a loan decision promptly. The service targets entrepreneurs across various sectors, including retail, technology, and services, assisting them in overcoming financial hurdles to expand their operations. Numida primarily serves the Ugandan market, focusing on empowering local entrepreneurs to enhance their productivity and business capabilities.Numida generates revenue primarily through interest on loans disbursed to its clients. The transaction structure operates on a straightforward model where SMEs apply for loans through the mobile app, and upon approval, funds are transferred directly to their business accounts. The loans carry competitive interest rates, which contribute to the company’s revenue stream as clients repay the borrowed amounts over predetermined periods. Numida’s revenue model is bolstered by its focus on providing tailored financial solutions that cater to the unique needs of its client base, ensuring that the repayment terms align with the cash flow cycles of the businesses served. The company’s commitment to supporting SMEs in Uganda solidifies its position as a key player in the local microfinance landscape.In September 2022, Numida Technologies raised USD 5.00 mn in venture debt funding from Lendable, as part of a larger funding initiative totaling USD 12.6 mn. This funding will be utilized to accelerate its presence in Uganda and to expand into two new African markets. Specific details on the new products being developed or upcoming launches were not disclosed.

## Funding rounds

- Series A, Jun 1, 2022, $7.3M — Y Combinator, 4Di Capital, Breega, Soma Capital Management, MFS Africa Limited, Serena Ventures, Launch Africa Ventures
- Seed, Sep 4, 2018, $0.1M — Beyond Capital Fund

## Investors

- Beyond Capital Fund (https://capitalatlas.ai/funds/beyond-capital-fund) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series A
- 4Di Capital (https://capitalatlas.ai/funds/4di-capital) — Series A
- Breega (https://capitalatlas.ai/funds/breega) — Series A
- Soma Capital Management (https://capitalatlas.ai/funds/soma-capital-management) — Series A
- MFS Africa Limited — Series A
- Serena Ventures — Series A
- Launch Africa Ventures (https://capitalatlas.ai/funds/launch-africa-ventures) — Series A