Verdant Capital funds Ugandan fintech company

Verdant Capital announced a revolving credit facility for Patasente Uganda, a digital trade services platform for farmers, warehouses, and factories. The facility will be used to support Patasente’s invoice discounting and supplier financing activities. Patasente is a local word that means “get money”.

Patasente was established by George Bakka and Gilbert Mutungi in 2016 and is headquartered in Kampala, Uganda. Patasente operates an e-procurement, payments and factoring platform for sellers and buyers to trade on favourable terms. Patasente enables suppliers (farmers and warehousing centres), being the “principal”, to sell their produce to large buyers, mainly factories.

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