HomeUAEFuraha Raises $10M in Funding

Furaha Raises $10M in Funding

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Furaha

Furaha, a Dubai, UAE-based provider of a financial services platform, raised $10M in funding.

SC Ventures invested $7M, while Yabx BV (a company of Tech Mahindra (NSE: TECHM) group) contributed through technology transfer.

The company intends to use the funds to expand operations and its development efforts.

Co-founded by Yustus Aribariho and Ian Fernandes, Furaha offers purpose-driven loans centred around education, gender and other responsible lending pillars for African markets. It works by creating an ecosystem of data for credit scoring and enables commercial banks to channel credit towards education financing. The company has started offering loan products in Uganda with partners including Opportunity Bank, SchPay and MTN MoMo.

Furaha is headquartered in UAE’s Dubai International Financial Centre (DIFC) and extending its offerings to local operating markets in Africa, starting with Uganda as its first market.

FinSMEs

24/01/2025

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