Uganda, April 14 -- Tugende, a technology asset finance company with operations in Uganda has closed a $3.6m (Shs13b) deal in equity financing.
The round was led by Partech, with participation from Enza Capital, a regionally based angel investor.
The investment, which was structured last year, is an extension of Tugende's Series A financing , which was announced in September 2020 led by Toyota Tsusho's Mobility 54.
This brings the total amount of equity capital raised for the Series A to $9.9m. Series A funding is a venture capital investment made to a business that has developed a track record with an established user base and consistent revenue figures.
"Last year, in the middle of the pandemic, we decided to invest in Tugende," said ...