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Ugandas Ridelink secures $150,000 pre-seed funding to bolster growth In Africa

Ridelink,a Ugandan Peer to peer car rental company offering innovative transport solutions to Small and Medium Businesses  has secured $150,000 from Ortus Africa Capital, Omidyar Network, and African Leadership Academy’s Young Entrepreneurs Fund (Anzisha).

According to Daniel Mukisa, CEO and founder of the company, the capital will be used to build globally competitive and robust technology and accelerate marketing campaigns.

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Ridelink is a third-party transport and logistics company focused on stimulating the growth of businesses by creating sustainable and affordable mobility solutions tailored to facilitate the smooth running of business operations, increase revenue earning, improve mobility efficiency, performance and ability for businesses to tap into new markets.

“At Ortus Africa Capital we are glad to add Ridelink to our story of creating impact through the provision of much-needed capital to entrepreneurs growing Africa’s economies. By co-investing alongside the Young Entrepreneurs Fund and backing African entrepreneurs with local capital, we hope this helps the entrepreneurs grow but also gives confidence to other investors in the African ecosystem to join us on this journey,” says Kenneth Legesi CEO/CIO at Ortus Africa Capital.

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 Thokoza Mjo of the Anzisha said that Young Entrepreneurs Fund is designed to incentivize co-investments into graduates of the programs like Daniel who have chosen to become career entrepreneurs. Ridelink demonstrates the ability of very young Africans to build job generative businesses and is a compelling business case for why we should all consider the opportunity to invest younger.

The company was founded in 2017 and has since served over 250 SMEs with over 2000 drivers delivering cargoes across East Africa.

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Milcah Lukhanyu
Milcah Lukhanyu
I cover tech news across Africa. Drop me an email at [email protected]

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