Working capital for African micro businesses
Company is active
Event Year: 2022
Company is active
Event Year: 2022
Numida empowers African micro-businesses by providing accessible working capital loans. Instead of relying on informal lenders or family networks, entrepreneurs can download the Numida application, complete a streamlined application process in minutes, and receive the necessary capital within 24 hours. Numida has developed a proprietary system for scoring and disbursing unsecured loans to cash-based businesses lacking digital transaction histories, all while maintaining exceptional collection rates. Since 2021, Numida has successfully provided $23 million in working capital to over 32,000 businesses across East Africa, fostering growth and economic development.
Numida empowers African micro-businesses by providing accessible working capital loans. Instead of relying on informal lenders or family networks, entrepreneurs can download the Numida application, complete a streamlined application process in minutes, and receive the necessary capital within 24 hours. Numida has developed a proprietary system for scoring and disbursing unsecured loans to cash-based businesses lacking digital transaction histories, all while maintaining exceptional collection rates. Since 2021, Numida has successfully provided $23 million in working capital to over 32,000 businesses across East Africa, fostering growth and economic development.
Total Raised: Unknown (Y Combinator backed)
Last Round: Winter 2022
Total Raised: Unknown (Y Combinator backed)
Last Round: Winter 2022
Fintech
Fintech
Fintech -> Credit and Lending
Fintech -> Credit and Lending
Team size: 115
Hiring: No
Team size: 115
Hiring: No
