{"id":4945,"date":"2021-04-01T08:00:00","date_gmt":"2021-04-01T05:00:00","guid":{"rendered":"https:\/\/techrafiki.com\/?p=4945"},"modified":"2021-04-01T06:42:55","modified_gmt":"2021-04-01T03:42:55","slug":"tugende-secures-3-6-million-in-latest-funding-round","status":"publish","type":"post","link":"https:\/\/techrafiki.com\/tugende-secures-3-6-million-in-latest-funding-round\/","title":{"rendered":"Tugende secures $3.6 million in latest funding round"},"content":{"rendered":"\n
A tech-based asset-financing company, Tugende secures $3.6 million in latest funding round in a Series A extension round. The company which is easily identified by the branded Boda Bodas<\/span><\/a> has closed this new deal, an equivalent to UGX 13.19 billion bringing its total funding to $9.9 million (UGX 36.27billion). This Series A<\/span><\/a> round was led by investors like Enza Capital, Partech, a San Francisco and Paris based VC firm that has invested in a number of startups in Africa and other angel investors.<\/p>\n\n\n\n Also read: Mobile payments company, Flutterwave valued at $1 billion after receiving $170 million in funding<\/a><\/span><\/p>\n\n\n\n In November 2020, Tugende raised $6.3 million led by Toyota Tsusho investment fund Mobility 54<\/span><\/a>. Other participants in the round were U.S.-based Global Partnerships\u2019 Social Venture Fund, current shareholders including Denali Venture Philanthropy and Segal Family Foundation, and new angel investors.<\/p>\n\n\n\n Tugende is a for-profit social enterprise established in Uganda in 2012 that offers new customers asset and SME finance, leasing, insurance, and financial literacy, as well as consumer finance to qualified existing customers. This has allowed small-scale entrepreneurs to grow by addressing one of the most important aspects of succeeding in the entrepreneurial field which is financing.<\/p>\n\n\n\n Tugende is an asset financing company that uses technology to provide a platform where micro, small and medium-sized enterprises are a step closer to owning income-generating assets through a lease-to-own product. It empowers customers who do not have access to formal credit.<\/p>\n\n\n\n Read also: E-commerce companies want ban on Facebook lifted in Uganda<\/span><\/a><\/p>\n\n\n\nTugende secures $3.6 million in latest funding round with hopes to expand<\/h2>\n\n\n\n