NUMIDA

What they do:

Numida empowers Africa’s overlooked micro and small businesses (MSBs) with digital financial services designed for growth.

Headquartered in Uganda, Numida provides rapid, collateral-free working capital loans ranging from $100 to $5,000 — delivered directly through mobile money in as little as two hours. By removing traditional barriers such as paperwork, collateral, and long approval times, Numida enables entrepreneurs to access the credit they need to sustain and scale their businesses.

But Numida’s vision goes beyond lending. Through data-driven insights gathered from its digital credit platform, the company is building a comprehensive financial ecosystem for MSBs — one that includes savings, insurance, payments, and other tailored services.

Why we invested:

NUMIDA has a differentiated and iterative risk pricing lending model for East African MSMEs that are financially excluded. The tech based vetting and collection processes is highly innovative. The business has experienced founders with ambitions to scale beyond Uganda to the broader East African region and more.

The Founder:

Mina Shahid is the Co-Founder and CEO of Numida

Active in:

Uganda