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ChapChap, a Ugandan fintech startup that creates reliable financial profiles for MSMEs, has secured a funding round from Nordic Impact Funds to accelerate its commercial growth and social impact creation. The undisclosed investment came from Nordic Impact Funds and will help ChapChap Africa scale its solution beyond Uganda.
ChapChap aims to empower small and medium-sized enterprises by giving them access to digital financial tools and resources to help them scale. The startup helps MSMEs formalize aspects of their business using its Android app, which allows small shops to start operating mobile money agency businesses, track all transactions that occur in the store, and build a credit profile on the MSMEs.