Tugende has raised $10 million in debt and equity capital from a consortium of investors arranged by Verdant Capital. This capital raise includes a strategic equity investment by Mobility 54, the Africa-focused investment fund of Toyota Tsusho Corp. This adds further strength to Tugende’s balance sheet and pushes the total balance sheet size above $30 million.

Tugende is a technology-enabled asset finance company operating in Uganda and Kenya. Using asset finance, technology and a hi...