Untapped Global, a revenue-based asset financing platform, has successfully secured a substantial US$3 million in seed funding. This investment round was led by E3 Capital (formerly Energy Access Ventures), marking the first commitment from their recently closed E3 Low Carbon Economy Fund (E3 LCEF I). It’s noteworthy that this funding significantly builds upon Untapped Global’s existing financial support, which includes previous contributions from early-stage venture capitalists and angel investors, amounting to an impressive total of over US$14 million.
The primary objective of this investment is to bolster Untapped Global’s efforts in promoting climate-smart solutions, particularly in the context of Africa. E3 Capital’s commitment will specifically facilitate the expansion of Untapped’s real-time data platform, which plays a pivotal role in financing climate-smart initiatives. This innovative data platform digitally tracks and manages repayments linked to productive assets used by micro-entrepreneurs and small businesses in emerging markets. Its multifaceted mission extends beyond financial empowerment to also raise awareness about the financial and environmental advantages of adopting eco-friendly technologies. Moreover, Untapped’s platform minimizes perceived investment risk in Africa by enhancing transparency and enabling digital collections, thus encouraging investments in the continent.
Why the Investors Invested
The substantial investment from E3 Capital into Untapped Global can be attributed to several compelling reasons. The global shift towards digitalization is rapidly transforming Africa, creating a unique opportunity to revolutionize how small businesses access capital. Untapped Global’s data-driven approach, combined with digital payment solutions, promises to enhance transparency and security in African investments while delivering measurable impact for private investors on a global scale. This aligns with E3 Capital’s strategic interest in fostering digitized, decentralized, and decarbonized business models in Africa.
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Again, access to funding remains a significant hurdle for early-stage companies across the African continent. E3 Capital recognizes the pivotal role that Untapped Global plays in addressing this challenge by developing a comprehensive data-driven financing platform tailored for climate-smart SMEs in Africa. This long-term partnership aims to bring more intelligent capital to Africa and extend the reach of eco-friendly solutions across key African markets.
A Look at Untapped Global
Untapped Global was founded in 2021 as a pioneering revenue-based asset financing platform with a focus on emerging markets. The platform provides data-driven investment opportunities for global investors interested in financing high-growth businesses across these markets. Its innovative Smart Asset Financing model allows real-time tracking of asset usage and revenue streams, ensuring transparent, secure, and profitable investment opportunities for investors while simultaneously promoting community wealth in emerging economies.
Based in Nairobi, Kenya, Untapped Global operates across various African regions, showcasing its commitment to unlocking economic opportunities where they are most needed. The company’s data platform has already demonstrated its instrumental role in scaling investments across Africa. Through successful pilots, Untapped Global has already financed over 14,000 micro-entrepreneurs in a diverse array of companies across twelve countries, delivering significant returns to its investors. Moving forward, the partnership with E3 Capital will enable Untapped Global to further expand its data platform and diversify its portfolio by including climate-smart assets like electric vehicles. Together, E3 Capital and Untapped Global aim to accelerate the adoption of e-mobility solutions across the African continent.
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In conclusion, Untapped Global’s innovative approach to revenue-based asset financing, coupled with E3 Capital’s strategic investment, reflects a shared vision of promoting sustainability and economic growth across Africa. Their collaboration is set to contribute significantly to the continent’s economic development and the adoption of environmentally friendly technologies.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard