Fintech Company Numida Raises USD 12.3 Mn Pre-Series A Round

Uganda-based fintech Numida has secured a USD 12.3 Mn pre-series A equity-debt funding round led by Serena Ventures with participation from Breega, 4Di Capital, Launch Africa, Soma Capital, and Y Combinator. Existing strategic investor MFS Africa also made a follow-on investment, while Lendable Asset Management extended a USD 5 Mn debt to the startup.

Numida is a fintech startup that supports small and micro semiformal businesses with digital working, convenient, and reliable working credit capital to grow and ensure the prosperity of African businesses. The startup plans to use the new funding to expand beyond Uganda.