Uganda’s Tugende closes $3.6M Series A extension to meet the demand for its asset finance products

01 Apr, 2021

Uganda’s Tugende closes $3.6M Series A extension to meet the demand for its asset finance products
Photo by Harmen Jelle van Mourik on Unsplash

– Ugandan technology-enabled asset finance company Tugende today announced that it has closed $3.6 million in a Series A extension round.
– The investment, which, according to the company, was agreed on and structured in 2020, follows the $6.3 million raised in November 2020 and led by Toyota Tsusho investment fund Mobility 54. This brings Tugende’s total Series A financing to $9.9 million.
– San Francisco and Paris-based VC firm, Partech led the round. Enza Capital participated, alongside some unnamed angel investors.
– Michael Wilkerson founded Tugende in 2012. The company uses asset finance, technology and a customer support model to help micro, small and medium-sized enterprises own income-generating assets.

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