Partech Africa ups its investment in Tugende

Image Credit: Tugende

Having led investors backing Tugende’s Series A extension round in April last year, Partech Africa is back, this time leading the fintech’s pre-Series B round supported by some other existing investors in the firm – Mobility54, Ensa, and Global Partnerships – as well as first-time Tugende investor, Women’s World Banking Capital Partners. Details of how much is being invested in the round have not been disclosed.

Tugende will use the capital to support its growth trajectory, invest in its digital product rollout, and improve its product offering for new and repeat customers. The capital will also bolster Tugende’s balance sheet as it prepares for its upcoming Series B.

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