Premier Credit Uganda, a licensed microfinance institution and subsidiary of The Platcorp Group, has raised $1.5m from Swiss impact asset manager Enabling Qapital to expand its operations and further its mission of driving financial inclusion across the country.
The funding marks one of the largest financial deals in Uganda this year, according to Crunchbase, and the only FinTech investment completed in July. The capital will help the company extend services to underserved groups, including rural communities, women and young people, who often face difficulties accessing traditional financial products.
Premier Credit Uganda, established in 2014, provides accessible financial solutions to entrepreneurs, individuals and SMEs. The lender focuses on helping clients turn ideas into sustainable businesses by offering reliable and swift credit.
The company intends to use the new funding to scale its services, innovate its offerings and broaden its reach.
The Platcorp Group CEO Brett Sievwright said, “We are thrilled to receive funding from Enabling Qapital, which is known for supporting impactful, sustainable initiatives globally, and we are looking forward to using this investment to expand financial access to underserved communities who need it the most.
“At Platcorp, financial inclusion is more than just a strategic objective – it is our ethos. Through our subsidiaries, like Premium Credit Uganda, and our extensive network, we have empowered over one million active clients with access to finance that is ethical, responsive and purpose-built.”
Premier Credit Uganda managing director Sammy Kandie said, “This is more than just investment – it’s a way for us to deliver widespread community benefits and improve financial inclusion across a region which is typically shut out from traditional financial institutions.
“This investment will enable us to enhance our existing services, ensuring we consistently deliver the most tailored credit solutions to individuals and micro-entrepreneurs who may not qualify for conventional financial products. It’s an honour to share such a vision with Enabling Qapital, and I look forward to seeing how our collaboration will drive financial inclusion for communities across the region.”
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FROM www.fintech.global
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