Verdant Capital Arranges USD 47 Million in Equity and Debt Financing for Tugende
Verdant Capital successfully arranged a total of USD 47 million in debt and equity capital for Tugende. This comprises of USD 10 million in equity, a USD 7 million convertible instrument and USD 30 million in senior debt financing.
Founded in Uganda in 2012, Tugende is a leading digitally enabled provider of asset financing solutions in East Africa that empowers micro-entrepreneurs by enabling access to ownership of income-generating assets, mainly motorcycle taxis, thus supporting sustainable economic development.
The company’s innovative model leverages technology to offer flexible financing for motorcycle taxis (boda bodas) and other productive assets. With a core mission to drive financial inclusion and improve livelihoods, Tugende has helped over 55,000 clients own their own assets, providing them with the opportunity to create stable, long-term incomes.
For more information, please visit Tugende.