Ugandan startup Emata has secured a $2.4 million seed round, consisting of $1.6 million in debt and $800,000 in equity funding. This funding will enable Emata to expand its agri-loan services across East Africa, with a focus on Uganda and Tanzania. Backed by investors such as African Renaissance Partners, Norrsken Accelerator, Draper Richards Kaplan Foundation, and angel investors like Marcus Boström and Zephyr Acorn, Emata aims to bridge the agricultural finance gap in sub-Saharan Africa, which currently stands at $240 billion. The startup provides no-collateral loans to smallholder farmers through partnerships with cooperatives and farmer-based organizations, streamlining the lending process and positively impacting thousands of East African farmers.
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