Numida Technologies Analysis: $12M Raised
What is Numida Technologies?
Numida Technologies provides unsecured business loans via a mobile app, enabling small businesses to secure funding quickly, often within 24 hours.
Employees
115
Founded
2016
Revenue
$10.4-12.7M
ZoomInfo
Product Features & Capabilities
- unsecured business loans, mobile app for loan applications, fast approval within 24 hours, financial management tools, gamification for user engagement, mobile money repayment options
Pricing
- Loans range from $100 to $5,000.
- Payable after one month.
- Interest rates between 10% and 16%.
- Average interest rate is about 11.5%.
How much Numida Technologies raised
Pre-Series A - $12.3 million
September 28, 2022Lead Investor: Serena Ventures, Breega, 4Di Capital, Launch Africa, Soma Capital, Y Combinator, MFS Africa, Lendable Asset Management
Who are the founders of Numida Technologies
MS
Mina Shahid
Co-Founder and CEO
CD
Catherine Denis
Co-Founder and COO
Market Focus
Numida Technologies primarily focuses on the fintech industry, specifically providing unsecured working capital loans to small businesses in Africa.
Investors
- 4Di Capital
- Breega
- DotExe Ventures
- Serena Ventures
- Todd Lipcon
- Y Combinator
Business Model
Revenue from risk-based 30-day loans to micro businesses via a mobile app.
Competitors Overview
Numida Technologies operates in the unsecured business loans market, primarily targeting small businesses through a mobile app. Its main competitors include:
- Lupiya:
- Overview: Offers various loan products including salary advance loans, collateral-backed loans, and business loans.
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