Untapped Global raises $10.3 million to provide smart asset finance to emerging market entrepreneurs

Untapped Global has raised US$10.3million in equity and debt pre-seed rounds to expand its smart asset finance model. It finances revenue-generating assets that entrepreneurs can use in Africa and Latin America.

San Francisco, Africa and Europe, with an all-female investment leadership staff. Untapped Global this initiative aims to enable the next billion entrepreneurs to scale their business by connecting frontier market pioneers to global investors online, and in person.

The company has just announced the launch their public beta platform. It uses real-time information to provide transparency for investors seeking to tap into Africa or other emerging markets. Smart Asset Financing uses IoT to evaluate risk and provide investors with real-time information on investment performance in order to generate lucrative returns. 

Untapped Global has funded assets in excess of 5,000 entrepreneurs from more than a dozen African and Latin American countries. These entrepreneurs work in sectors like clean water, solar energy, inclusive fintech, and e-mobility. Paga Group, a company that works with Untapped, has helped to make POS systems accessible for SMEs across Africa more affordable.

“Our goal at Paga Group is to make it simple for one billion people to pay, get paid, and access financial services,” said Paga CEO Tayo Oviosu. “The team at Untapped is aligned with that goal, and our current partnership showcases its objective to ensure that entrepreneurs have the opportunity to scale to their full potential.” 

Accredited investors can now access the Untapped investment platform to see their investments’ performance in real-time. Anyone can sign up and the platform will become available to retail investors by 2022. Jim Chu, founder and CEO of Untapped Global, stated that the moment is the right time to invest in these markets due to the rapid digitization taking place across Africa and other frontier countries. 

“There’s a US$5.2 trillion funding gap for SMEs in emerging markets, such as Africa, Asia and Latin America. Untapped was created to provide capital to entrepreneurs in countries that are often exempt from funding opportunities. Investors also have transparency. This is only the start of the global decentralization of investment. Our data has shown that for every US$1 invested, more than US$3 of value is created in local economies,” he said.

Get latest news from African Startup ecosystem

Latest stories

You might also like...