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Image: Mama Ibadan, owner of a small shop in Nigeria, uses a Koolboks solar powered refrigerator to preserve her products through power outages.
As small-scale entrepreneurs continue to face challenges accessing innovative and affordable financing, Small Foundation is excited to announce our partnership with Untapped, an innovative fintech startup providing revenue-based asset financing for MSMEs in emerging markets. This partnership marks a significant step in the shared mission of Small Foundation and Untapped to enhance the business ecosystem for MSMEs in underserved regions.
Founded in 2021, Untapped has already empowered over 25,000 micro-entrepreneurs across Africa by providing financing for productive-use assets. What distinguishes Untapped is its real-time data system, which tracks revenue and asset performance, allowing them to closely monitor the MSMEs they support and significantly mitigate investment risk.
Untapped’s unique approach to asset financing has shown steady growth and holds great promise in facilitating sustainable income-generating opportunities in emerging markets. By bridging the gap between MSMEs and traditional lending models, Untapped is paving the way for small businesses to generate sustainable income for their communities.
Image: Ox Delivers, based in Rwanda, has custom-designed a fleet of electric vehicles supporting rural businesses across the African market.
Small Foundation shares Untapped’s mission to create shared prosperity by unlocking economic opportunity where it’s needed most, particularly in empowering small-scale entrepreneurs and fostering sustainable development in Africa. Small Foundation is particularly excited about unlocking the potential of rural economies, and we believe supporting innovative fintech solutions like Untapped is crucial to achieving this goal.
Our decision to invest in Untapped was driven by a mutual commitment to catalysing positive change, especially through MSMEs based in rural communities. We believe this partnership strengthens Untapped’s capacity to serve these rural MSMEs effectively.
Together, we are rewriting the narrative of MSME financing in Africa, supporting entrepreneurs one productive-use asset at a time. We look forward to seeing the impact this collaboration will have on the African MSME financing ecosystem and rural entrepreneurs.
