Participated · Equity · Feb 2015

Tugende provides lease-to-own and hire-purchase financing, primarily for motorcycle taxi (boda boda) riders, bundling vehicles with training, insurance, safety equipment and hands-on support from first use to ownership. The company has expanded financing to boat engines, cars, retail equipment and refrigerators, and is piloting e-mobility assets. Tugende has built digital capabilities including full digital payments, an interoperable payment gateway (2017) and an in-house credit score launched in 2019. It serves more than 43,000 clients across Kenya and Uganda, with 16,000 clients having achieved full ownership of at least one asset, and employs over 520 people across 20 branches in Uganda and four in Kenya. Historically net income positive for most years through 2019, Tugende relies on steady debt capital (having raised more than $20M from debt partners) and is using equity to strengthen its balance sheet and accelerate meeting strong word-of-mouth demand. The company aims to scale into new geographies and asset products while fine-tuning its technology and operational model. Tugende is a fintech startup based in Uganda. The article identifies the company only as a fintech firm and does not detail its specific products or services. Tugende has completed a $6.3M Series A financing. The funding round was led by Mobility 54, the Toyota Tsusho‑backed investment fund. The article does not provide operating metrics, valuation, or details on use of proceeds. No future plans or additional financial information were reported in the article. Tugende operates a lease-to-own financing model that helps motorcycle taxi drivers (boda boda operators) acquire motorcycles within roughly 18 months. The company describes itself as a for-profit social enterprise focused on high-risk borrowers who lack access to mainstream financing. In 2014 Tugende grew 300% to over 700 active customers, showing rapid early traction. The company is Ugandan-based and estimates a local addressable market of approximately 400,000 people who rely on motorcycles for income. CEO Michael Wilkerson has framed the business as both an economic enabler and a job-creation engine in a region with high youth unemployment. Financially, Tugende recently closed a US$780,000 funding round following an earlier US$300,000 round in December 2013.

Led · Seed · Aug 2014

Maths Pathway, founded in 2013 by Richard Wilson and Justin Matthys, offers an online learning system designed to help teachers better teach mathematics by delivering individualised lessons and classroom insights. Teachers can set students up with personalised lessons while the platform supplies data and analytics to help tailor instruction to each learner. The platform is used by over 50,000 students across more than 250 schools around Australia. The company says it is focused on influencing broader change in the education system and operates with a social-purpose mission. Maths Pathway recently raised a $2.1 million seed round led by Social Ventures Australia, with proceeds earmarked for further product development. The startup’s mission and growth to date align with impact-focused investors and efforts to reach disadvantaged students. Founded in 2012 by Justin Matthys and Richard Wilson, Maths Pathway offers an adaptive learning platform that replaces one‑size‑fits‑all maths teaching with a differentiated, ability‑targeted approach. The product tailors content, assessment and support to individual students and also trains and supports teachers and school culture for successful implementation. More than a technology solution, the company bundles a scalable, turnkey learning model that schools license on a per‑student basis (priced roughly like a textbook). Today more than 13,000 students across 100+ schools use the platform, with the majority of schools in Australia and interest from the UK, USA and South Africa. Partner schools report substantial gains—on average a doubling of their rate of learner growth. Maths Pathway is focused on scaling the business and its impact in schools. Maths Pathway is a Melbourne startup that replaces traditional maths courses in primary and secondary school with a cloud-based e-learning curriculum. The platform is designed to enable teachers to spend more time teaching the specific areas of maths in which students are having trouble. Co‑founders Richard Wilson and Justin Matthys are the first Australians to win Echoing Green Fellowships. The fellowship provides $90,000 in funding over two years, leadership development training, and access to Echoing Green's network of fellows, partners and friends. Maths Pathway plans to use the money to fund expansion and further development of its program. Echoing Green is a US‑based social entrepreneurship fund that offers seed funding and support to young entrepreneurs solving important social problems.