||Tugende invests in motorcycle taxi (boda boda) drivers in Uganda, allowing them to own their own motorcycle over 18 months instead of renting. This dramatically increases savings and income.
Tugende has hit its 300k seed funding goal to pilot its scalability and refine operations by expanding from 35 to 250+ active loans as of the end of 2013.
Tugende's next round, starting in early 2014 will allow it to further to expand into 1000s of active loans in Uganda and across East Africa, and in particular to explore the potential outside of urban areas.
OYOB is profitable and cash-flow positive and raising grants & straight and convertible debt on a 2-year term.