In its role as financial advisor to Tugende and arranger for its capital and debt raisings, Verdant Capital has just raised $9.9 million in Series A equity for Tugende.

PartechAfrica, a member of the international technology venture capital fund PartechGroup, and EnzaCapital invested $3.6 million, bringing the total series A capital volume to $9.9 million.
Indeed, MSMEs' credit deficit exceeds USD 331 billion per year in sub-Saharan Africa and USD 37 billion in East Africa alone.

After cementing its leading position by financing bodabodas in Uganda, Tugende, an MSME-focused technology lender from East Africa, launched operations in Kenya in late 2019 to kick-start its regional expansion while continuing to add new asset products for other types. of clients in the informal sector.

Tugende uses asset financing, technology and a highly customized customer support system to help micro, small and medium-sized enterprises (MSMEs) become owners of income-generating assets.
This Series A transaction for Tugende consolidates Verdant Capital's track record of raising capital for emerging leaders in high-impact Fintech and shining a spotlight on these companies in front of a wide range of global investors.