Connect with us

Tech

Uganda-based fintech, Numida, secures $12.3m led by Serena Ventures. 2 other stories and a trivia

Published

on

This line-up of stories will help you discover the latest happenings around the tech world, today

1. Uganda-based fintech, Numida, secures $12.3M led by Serena Ventures

A Ugandan fintech startup, Numida, Wednesday secured $12.3 milliom led by Serena Ventures to expand infrastructure and geographical footprints beyond Uganda.

Numida CEO, Mina Shahid, confirmed the new funding in a media release.

The pre-series A equity-debt funding was led by Serena Ventures with participation from Breega, 4Di Capital, Launch Africa, Soma Capital, and Y Combinator.

Ripples Nigeria gathered that MFS Africa made a follow-on investment, while Lendable Asset Management extended a $5 million debt to the startup.

Shahid co-founded the startup in 2017 with Catherine Denis and Ben Best.

“I’m most excited about continuing to build and provide financial products for these micro and small business owners who have been forgotten by the traditional financial services industry even though they are hardworking and have viable businesses,” said Shahid.

Tech Trivia: An alpha channel controls what image property?
A. Hue
B. Saturation
C. Resolution
D. Opacity
Answer: see end of post

2. Egyptian PropTech startup, Partment, secures $1.5m pre-seed round

Egypt-based proptech, Partment, has announced closing its new pre-Seed round at $1.5million to expand infrastructure and deploy its MVP starting in Egypt.

Read also:Egyptian B2B startup, Mazaya, secures $5m pre-seed. 2 other stories and a trivia

Nadim Nagui, Chief Executive Officer at Partment, confirmed the new development in a press release on Wednesday.

Ripples Nigeria gathered that the round was led by Nclude, Plus Venture Capital (+VC), along with a group of angel investors.

Plus Venture Capital (+VC) is a Mena-focused venture capital firm investing in pre-seed and Seed tech startups.

Partment, founded in 2022 by Ahmed El Raggal and Nadim Nagui, offers a hassle-free solution for second home co-ownership.

Commenting on the raiser and intent, Nagui said:

“We are very proud to be backed by leading investors who understand and support our vision.

“Aside from the financial support and expert advice, their trust in our business model will help us achieve our short-term and long-term goals and scale our business to the next level in Egypt and across the region.”

Nagui also said that the new funding would help enhance the infrastructure of the platform, and deploy its MVP starting in Egypt.

3. Trella partners Egypt’s non-banking financial services company, Contact Financial Holding

An Egyptian non-banking financial services company, Contact Financial Holding, has announced a partnership with Trella.

Omar Hagrass, CEO of Trella, announced the partnership agreement in a press statement on Wednesday.

Ripples Nigeria gathered that Contact Creditech will finance Trella carriers’ purchases on Trella Store.

Trella store is an e-commerce platform that provides trucking products such as tires, brakes, engine lubricants, maintenance services, and other trucking necessities.

Commenting on the partnership, Hagrass said:

“We are fortunate to have Contact as one of our partners to provide different financing solutions to our customers.

“The supply chain has been witnessing a lot of innovation lately, but not as much was felt on scaling financing options to the stakeholders involved.”

Trivia Answer: Opacity

Opacity describes how opaque an object is. While it is not specific to computer terminology, the term is often used in computer graphics software.

For example, many programs include an “Opacity” setting that allows you to adjust the transparency of an image.

By Kayode Hamsat

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

TEST

Investigations