In its role as financial advisor to Tugende and arranger for its capital and debt raising, Verdant Capital has just raised $9.9 million in Series A equity for Tugende.

PartechAfrica, a member of the international technology venture capital fund ParTechGroup, and EnzaCapital have invested $3.6 million, bringing the total volume of Series A capital to $9.9 million.
Indeed, the credit deficit of MSMEs exceeds 331 billion USD per year in Sub-Saharan Africa and 37 billion USD in East Africa alone

After establishing its leading position by financing bodabodas in Uganda, Tugende, a technology lender focused on MSMEs in East Africa, launched its operations in Kenya in late 2019 to kick off its regional expansion while continuing to add new asset products for other types of informal sector clients.

Tugende uses asset finance, technology, and a highly personalized customer support system to help micro, small, and medium-sized enterprises (MSMEs) become owners of income-generating assets.
This Series A transaction in favor of Tugende consolidates Verdant Capital's history of raising capital for emerging high-impact fintech leaders and highlighting these companies to a broad range of global investors.