Tech in Africa
Applications are now open to registered limited companies in Rwanda, Nigeria, and Kenya for the Unconventional Capital funding opportunity. As part of the requirements, businesses should have operated for a year to 4 years with existing products and services in the market that generate consistent revenues over a period of 12 months from an established customer base.
Uncap launched in 2019 and has thus far invested in over 27 companies. This new tool will help Uncap scale its investment offering to over 100 companies in one batch. The company is looking to invest in 50,000 enterpreneurs by 2030.
Applicants must have business models that are scalable over time to acquire a regional or national appeal. Uncap has thus developed a new funding method that uses fully remote, data-driven, highly streamlined processes, and innovative investment models.
Uncap will invest through an equity-based revenue-sharing model designed to address the need of early-stage businesses and stipulates that uncapped buys a share in the entrepreneur’s business. Uncap will provide existing businesses with $10,000 to $50,000 in funding.
The platform looks to make funding accessible to every good entrepreneur across sub-Saharan Africa. Early-stage entrepreneurs that are considered too risky for bank financing with funding needs too large for microfinance yet too small for VCs are the main drivers for Uncap to pursue this innovative investment model.
In the press release shared by Uncap, CEO Franziska Reh said, “We strongly believe in the founders we invest in” she went further to disclose that the entrepreneurs get room to “grow at their own speed” while Uncap holds a minority stake without taking any board seats.
The application period will carry on for two months where a series of questions and assessments will be conducted. Uncap believes good entrepreneurs run good businesses. Rather than focus on business plans, pitch decks, lengthy meetings, or investment committees, Uncap offers a new perspective on how business decisions are being made.
You can access more information here
