Numida

Founded
2016–2017 in Kampala, Uganda — Numida was launched to provide digital working capital and financial services to underserved micro and small businesses, enabling rapid unsecured business loans via mobile app technology.

Founders & Leadership
Mina Shahid — Co‑Founder & CEO
Catherine Denis — Co‑Founder & COO
Ben Best — Co‑Founder

Location
Kampala, Uganda — with primary operations focused initially in Uganda and plans to expand to other African markets.

Industry
FinTech / Digital Lending & Financial Services — focused on providing unsecured working capital and digital financial tools for micro, small, and informal businesses.

Overview
Numida is a technology‑enabled financial services platform that empowers traditionally underserved micro and small businesses (MSBs) across Africa with quick access to working capital. Through its mobile app, business owners can apply for unsecured loans ranging from ~$100 to ~$5,000 and receive funds — often within a day — directly into mobile money wallets. Based on proprietary credit‑scoring algorithms built from customer business data, Numida’s streamlined lending process eliminates paperwork, collateral requirements, and lengthy bank procedures. Beyond lending, the company is building data‑driven services for broader SME financial needs including savings, insurance, and payments.

Core Features & Capabilities
Unsecured Digital Working Capital Loans: Fast, collateral‑free credit for small businesses via mobile application.
Mobile Disbursement: Loans delivered through mobile money in as little as 24 hours.
Proprietary Credit Scoring: Risk‑based pricing using data from business operations and behaviour.
Data Tools & Future Services: Foundational data insights support potential savings, insurance, and payment products as part of a broader financial ecosystem.
SME‑Focused Product Design: Tailored financial services for informal and semi‑formal enterprises often excluded from traditional banking.

Target Market
Micro & Small Business Owners across Uganda (and other planned African markets) needing accessible working capital.
Underserved Entrepreneurs lacking formal credit history or collateral for traditional bank loans.
Mobile Money Users seeking rapid financing without complex paperwork.

Value Proposition
Numida simplifies financial access for small business owners through fast, affordable, and mobile‑first unsecured loans, unlocking growth capital that would otherwise be unavailable through traditional financial institutions — especially for cash‑based and informal enterprises. By leveraging business data and intelligent risk scoring, Numida enables entrepreneurs to grow their ventures and build financial history while laying the groundwork for a broader suite of digital financial services.