Untapped Global raises US$3 million in seed funding led by E3 Capital to enhance financing for climate-smart solutions in Africa.
Information on the Target
Untapped Global is a revenue-based asset financing platform dedicated to facilitating investment in emerging markets, specifically focusing on climate-smart solutions. The company recently secured US$3 million in seed funding, led by E3 Capital, bringing its total funding to over US$14 million from various early-stage venture and angel investors. This strategic partnership aims to enhance the adoption of sustainable technologies, particularly e-mobility, across the African continent.
Founded in 2021, Untapped Global has developed a pioneering data platform that allows the digital tracking of repayments from productive assets utilized by micro-entrepreneurs and small businesses. By promoting increased transparency and efficient digital collections, Untapped not only assists in boosting income and building wealth in communities but also raises awareness about the financial and environmental advantages of employing climate-friendly technologies.
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Industry Overview in Kenya
The African market is rapidly evolving, with a marked growth in the digitization of services, particularly in Kenya. This shift presents significant opportunities for small businesses to gain access to
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E3 Capital
invested in
Untapped Global
in 2023
in a Seed Stage deal
Disclosed details
Transaction Size: $3M
Enterprise Value: $14M