Tugende

Tugende is a for-profit social enterprise that invests in responsible motorcycle taxi drivers, helping them own, rather than rent, the key tool with which they make money. Ownership doubles take home profits for drivers and encourages safe driving. We are profitable and in a seed investment round but look forward to a series A round for scaling across Uganda and East Africa in 2014.

Fundraising

This venture has not initiated a round of financing on the VC4A platform. If they choose to, the summary of the fundraising round will appear to VC4A Pro Account users here.

Idea

We have an elevator pitch. We plan to execute a proven concept in a growing market.
We have an elevator pitch. We plan to execute a proven concept in a growing market.

Tugende helps Ugandan motorcycle taxi (boda boda) drivers purchase their own motorcycles over 18 months instead of renting, promoting savings and financial independence. Drivers' profits double with ownership.

Team

Our founder has the business savvy and persistence to turn ideas into a company. We have a business network and can get introduced to the right people. We can build the product - our team has what it takes. Given the time and money, we can deliver on our promises.
Our founder has the business savvy and persistence to turn ideas into a company. We have a business network and can get introduced to the right people. We can build the product - our team has what it takes. Given the time and money, we can deliver on our promises.

Michael Wilkerson, Co-Founder and CEO: Over 2 years working as a journalist in Uganda. Fulbright and Marshall Scholar. Earned BA from Stanford and MPhil from Oxford. Board/Advisors: Andrew Mwenda: Noted journalist, TED fellow.. Aaron Pattillo, co-founder Khunu


Product

We have a working product and you can request a demonstration.
We have a working product and you can request a demonstration.

170 active motorcycles on the road + 50 completed loans. Weekly repayment rate of 95%. Only 1 serious accident in 2 years. Our vision: --250-300 active customers by the end of 2013 --10,000 active loans in East Africa within 3 years; --"value added" brand of safe driver

Revenue

We will earn revenue from an advertising model. We have a cash-flow prognosis. We already have revenue from paying customers.
We will earn revenue from an advertising model. We have a cash-flow prognosis. We already have revenue from paying customers.

Drivers are recommended by our network or their passengers and carefully screened and selected for responsibility. Then, the motorcycle is repaid over 18 months with weekly payments based on a 4% per month flat interest rate (48% annualized). Collection is 100% cashless.

Team

Updates