The Financial Technology Service Providers' Association (FITSPA), in partnership with its flagship partners aBi Finance and the Bill and Melinda Gates Foundation, launched the FITSPA Member Deal Book, a platform that provides detailed profiles of Fintech investees seeking funds. The deal book outlines the operations, track record, funds required, and the purpose of these funds as well as the payback period. It also summarizes the respective financial performance of the investees over the past three years and the projections over the next two years, providing potential investors with a general view of the investee's potential and return on investment.
We are thrilled to launch the first cohort of the FITSPA Deal Book with eight investees. We anticipate that this number will grow organically year on year as we build our pool of investors and master the craft. We are confident that this initiative will be instrumental in supporting the growth and development of Uganda's fintech industry, said a representative of FITSPA. We are thrilled to launch the first cohort of the FITSPA Deal Book with eight investees. We anticipate that this number will grow organically year on year as we build our pool of investors and master the craft. We are confident that this initiative will be instrumental in supporting the growth and development of Uganda's fintech industry, said a representative of FITSPA.
The State of Uganda's Fintech Industry report released last year found that 57% of early-stage capital comes from the founders' own funds. However, capital is still a key enabler for ecosystem growth. Therefore, the initiative aims to create business and investment opportunities for FITSPA members while ensuring investor protection by selecting fintech companies that are investor-ready and preventing investors from becoming victims of fraud.
FITSPA will work to ensure that credible investors are matched with the participating fintechs. The investors will likewise be vetted to protect the participating FITSPA members. However, both the investors and the investees are encouraged to conduct due diligence once they are matched.
The deal book was launched in Kampala, but FITSPA will leverage the strong network of its partners at aBi Finance and the Bill and Melinda Gates Foundation to reach a global pool of investors.
The first cohort of the FITSPA Deal Book is a demonstration that native and international fintechs operating in Uganda are investment ready. Those interested in participating in the next cohort of the FITSPA Deal book can write to membership@fitspa.ug.