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Numida

YC W22

Kampala, UG · Founded 2016 · 115 employees · 13 known investors

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Numida provides digital financial services including credit, savings, insurance, and payments to micro and small businesses in Africa. The company uses data-driven insights to build financial products tailored for growth.

Also known as Numida Technologies Inc.

FintechImpact & Social GoodSaaSMicroinsuranceUgandaAfricaPartly Remote

Founders & leadership· Y Combinator alumni (W22)

Numida was founded in 2016 by Mina Shahid and Catherine Denis.

MSMina Shahid
Mina ShahidCo-Founder, CEOHe previously co-founded a lending company in Ghana and has worked across multiple African countries including Uganda, Ghana, and Zambia, as well as Colombia.
CDCatherine Denis
Catherine DenisCo-Founder & COO2015–2024She has worked across Uganda, Rwanda, Burkina Faso, Mali, Haiti, and Colombia building teams and organizational processes, and holds an MPA in International Development from the Harvard Kennedy School and an undergraduate degree in Systems Design Engineering from the University of Waterloo.
BB
Ben BestFounderuntil 2024

Investors · 13

DotExe Ventureslisted by DotExe VenturesPort Louis

How we know: DotExe Ventures's portfolio page · Not right? Tell us

E4E Africalisted by E4E AfricaCape Town

How we know: Y Combinator's founder network · Not right? Tell us

Pioneerlisted by PioneerToronto, Ontario

How we know: Y Combinator's founder network · pioneerfund.vc · open dataset · 5k.vc investor directory · Not right? Tell us

Serena Ventureslisted by Serena VenturesNew York · $100K – $500K

How we know: Serena Ventures's portfolio page · funding news · techcrunch.com · the VCSheet dataset · open dataset · 5k.vc investor directory · Y Combinator's founder network · Not right? Tell us

Soma Capitallisted by Soma CapitalSacramento · $100K – $300K

How we know: fintechnews.africa · somacap.com · Y Combinator's founder network · Not right? Tell us

Y Combinatorlisted by Y CombinatorSan Francisco · $500K

How we know: the Y Combinator directory · fintechnews.africa · open dataset · 5k.vc investor directory · Not right? Tell us

BreegareportedLondon · $540K – $16.2M

How we know: fintechnews.africa · Y Combinator's founder network · Not right? Tell us

Goodwater CapitalreportedBurlingame · $5M – $50M

How we know: Y Combinator's founder network · Not right? Tell us

Launch Africa VenturesreportedTrianon · $10K – $300K

How we know: fintechnews.africa · Y Combinator's founder network · Not right? Tell us

LendablereportedLondon

How we know: press coverage · Not right? Tell us

MFS AfricareportedLondon

How we know: fintechnews.africa · Y Combinator's founder network · Not right? Tell us

Phoenix FundreportedNew York

How we know: Y Combinator's founder network · Not right? Tell us

Funding

SEC filings, press & company announcements

$12.3M disclosed across 1 of 4 rounds · 2021–2022

Source: company announcements and press reports — follow each round's link for the claim.

Related companies · 5

AellaAella is a digital banking and lending platform providing credit, payments, and financial services to individuals and microenterprises across Africa. The company offers instant loans, digital cards, and business banking tools designed for financial inclusion in emerging markets.
BimaplanBimaplan offers life and health insurance products tailored for low-income households in India, delivered through a mobile-first platform. The company targets financially vulnerable populations in the region who previously lacked affordable access to such coverage.
CredPalCredpal operates a financial platform that integrates payments, savings, credit, and investments for individuals in Africa. The company serves millions of customers seeking unified financial management tools in a single application.
WaveWave builds a modern financial network for Africa offering bank account alternatives, money transfer, and lending services with no fees. The platform targets the over half of the African population without bank access, enabling them to save, transfer, and borrow money.
Touch and Pay Technologies LimitedTouch and Pay Technologies builds an NFC-based mobile payment platform for processing offline and online micro-transactions across Africa, targeting small businesses to large organizations for financial inclusion.

Companies working in the same space as Numida.

Legal entities · 1

corporate structure
Numida Technologies Inc.

In the news

YC-backed fintech Numida raises $12.3M led by Serena Ventures to extend loans to MSMEs beyond Uganda • TechCrunchtechcrunch.com · Sep 2022

Frequently asked questions

What does Numida do?
Numida provides digital financial services including credit, savings, insurance, and payments to micro and small businesses in Africa. The company uses data-driven insights to build financial products tailored for growth.
Who founded Numida?
Numida was founded by Mina Shahid, Catherine Denis in 2016.
Who are Numida's investors?
Numida's investors include 4Di Capital, DotExe Ventures, E4E Africa, Pioneer, Serena Ventures, Soma Capital, Y Combinator, Breega and 5 more.
How much funding has Numida raised?
Numida has disclosed $12.3M raised across 1 of its 4 known rounds.
Where is Numida headquartered?
Numida is headquartered in Kampala, UG.