Verdant Capital Raises USD 9.9 Mn Equity Capital For Tugende

Verdant Capital, a leading fintech and investment banking franchise, raised USD 9.9 Mn Series A equity funding for Tugende. Partech Africa, a leading global technology venture capitalist, and Enza Capital invested in the USD 3.6 Mn extension round, agreed and structured in 2020, raising the total Series A volume to USD 9.9 Mn.

Tugende combines asset finance and technology to help entrepreneurs in the informal sector of Kenya and Uganda improve their economic prospects. The capital raise supports Tugende’s loan portfolio expansion and will help to strengthen its balance sheet.