awamo GmbH collects EUR 500,000 from international business angels and grantors to launch a mobile, biometric solution for microfinance lenders in Africa.
awamo successfully closed its first funding round and collected EUR 500,000, thereof EUR 400,000 from business angels from Europe, the US, the United Arab Emirates and Uganda. Another EUR 100,000 come from Ugandan and European grantors.
We offer a mobile, cloud based hard- and software solution for microfinance lenders in emerging markets. awamo’s solution simplifies the credit management process from A to Z and provides microfinance lenders with a professional credit risk management solution. With reliable biometric identification integrated everyone can get access to microfinance in the future. This empowers millions of people to create their own microbusinesses, thus stimulating sustainable, regional economic and social development.
awamo will use the money collected for developing its prototype to a fully-fledged solution and for the roll out in selected regions of Uganda, focussing on scalability and implementation of further customer and user feedbacks.