Untapped Global has raised a US$10.3 million debt and equity pre-seed round to help it scale its smart asset financing model, which finances revenue-generating assets for entrepreneurs and SMEs in Africa and Latin America. Based in San Francisco, Africa, and Europe with an all-female investment leadership team, Untapped Global aims to empower the next billion entrepreneurs to scale to their full potential by connecting frontier market innovators to global investors online and in-person. The company recently announced the launch of its public beta platform, which uses real-time data to provide transparency and insights for international investors looking to tap into Africa and other emerging markets. Smart Asset Financing uses IoT from on-the-ground assets to assess risk of investments and deliver real-time data to investors on investment performance to secure lucrative returns. To date, Untapped Global has financed assets for over 5,000 entrepreneurs across a dozen countries in Africa and Latin America who work across sectors such as clean water, solar, e-mobility, and inclusive fintech. Companies such as Paga Group have worked with Untapped to make access to POS systems more affordable for SMEs throughout Africa.
SOURCE: DISRUPT AFRICA