Numida

Working capital for African micro businesses

Y CombinatorWinter 2022ActiveFintechCredit and LendingFintechMicroinsurance

What they do

Problem

African micro businesses lack access to fast, affordable working capital and often rely on informal lenders or family.

Solution

Numida is a mobile app that scores and disburses unsecured working-capital loans to cash-based micro businesses with no digital transaction history.

Who it's for

Cash-based micro business owners in East Africa seeking short-term working capital.

Founders

Mina Shahid

Founder

Co-Founder and CEO of Numida. I'm a two time founder and along with Numida's CTO I previously worked on another lending company in Ghana that failed. I'm Egyptian and Canadian and have lived and worked in Uganda, Ghana, Zambia and Colombia. I fundamentally believe that the growth of micro and small businesses in Africa is the key to economic prosperity for hundreds of millions of people!

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Catherine Denis

Founder

Co-founder and COO of Numida. I have lived and worked in Uganda, Rwanda, Burkina Faso, Mali, Haiti and Colombia for 8+ years figuring out how to build teams, build robust processes, and get things done in challenging environments. I hold an MPA/ID from the Harvard Kennedy School and graduated in Systems Design Engineering from the University of Waterloo. As a French Canadian, I always welcome the opportunity to work or connect in my mother tongue.